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In the Sensex pack, Tata Motors, Hindustan Unilever, Tata Power, Grasim Industries, ACC, Sun Pharma, ONGC, Sterlite Industries, ICICI Bank, SBI and BHEL are amongst the major decliners.
On the other side, Larsen & Toubro is rising 1.46%, Mahindra & Mahindra is gaining 1.22% and Hindalco Industries is up 0.74%. HDFC, Bharti Airtel, Infosys, DLF and Reliance Industries are also trading in positive territory.
State Bank of India is losing 0.58% on reports it will raise Rs 10,000-20,000 crore via a rights issue in the next financial year. Kotak Mahindra Bank, which will replace Grasim Industries in the S&P CNX Nifty Index from April 8, is rising 1.84%. Grasim is moving down 1.44%.
Cable television services provider Hathway Cables and Datacom is trading at Rs 221.85, a 7% discount to its initial public offering price of Rs 240 per share Wipro's arm Wipro Infotech has bagged a 10-year contract from Punjab & Sind Bank, reports said. However, the stock is trading flat with a negative bias.
Fame India is down 3.65% on profit taking. Mahindra Forgings is declining 1.09% after its board approved raising Rs.125-175 crore via a qualified institutional share placement. Gammon India is up over 3% on bagging a Rs 137.28 crore project from ISKON.
MphasiS is losing 4.27% after posting a 28% rise in Q1 consolidated net profit. Aventis Pharma is down 1.24% on reporting a 43% decline in its December-quarter net profit. Elgi Equipments is rising 3.73% after it convened a board meeting to consider the terms of acquisition of a company in Europe.
by RTT Staff Writer
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