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Wednesday, January 8, 2014


TOP CORPORATE NEWS


·        M&M sells 75,000 units of XUV500 in 2 years

Home grown auto major Mahindra & Mahindra has sold over 75,000 units of its global sports utility vehicle XUV500 in just over two years since its launch.

·        Jubilant Foodworks stock down 4%

Shares of Jubilant Foodworks Ltd was down 4% after Reserve Bank announced foreign institutional investors are not allowed any longer to purchase shares in Jubilant FoodWorks Ltd as the foreign shareholding in the company has reached the trigger limit.

·        Tata Steel stock remains flat

Shares of Tata Steel was up 1% after the company has won a two-year contract to supply over 2,00,000 tonnes of highly wear-resistant rail tracks to a French rail operator.

·        Mastek jumps after board OKs buyback

Mastek has rallied 6% after the company approved buy back shares worth up to Rs 55 crore at a price not exceeding Rs 250 per share. The buyback will be through open market transactions.

·        NHPC inches up after power project pact with Kerala government


NHPC rose after the company has signed a memorandum of understanding with Government of Kerala for the development of wind power project by NHPC in Kerala.

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