India Movers: Bharti Airtel, HCL Tech, IL&FS, Shree Renuka, Sandur

Mukesh Buch
21 Feb, 2014
New York City

Bharti Airtel expected to face $3 billion charge in Nigeria. HCL denied that founder is seeking to sell his $10 billion stake. IL&FS secured a road project worth $216.7 million in Spain. Shree Renuka tumbled after Singapore based Wilmar to acquire 27.5% stake for $200 million.

[R]6:00 PM Mumbai - Bharti Airtel expected to face $3 billion charge in Nigeria. HCL denied that founder is seeking to sell his $10 billion stake. IL&FS secured a road project worth $216.7 million in Spain. Shree Renuka tumbled after Singapore based Wilmar to acquire 27.5% stake for $200 million.[/R]

The Sensex Index gained 164.11 or 0.8% to close at 20,700.75. The CNX Nifty rose 64 or 1% to close at 6,155.45. For the week, Sensex increased 1.6%.

Gainers & Losers

Bharti Airtel Limited dropped 2.9% to Rs 288.20 after the company move to the highest court of Nigeria against a decision of the longstanding dispute with Econet Wireless.

After the Lagos court ruling, Bharti Airtel is required to $3 billion to the African telecom operator Econet Wireless.

Easun Reyrolle Limited slipped 2.3% to Rs 65 after the power transmission and distributor said net in the third-quarter swung to a loss Rs 5.09 crore compared to a net profit of Rs 1.03 crore.

Revenue in the quarter declined 40.8% to Rs 53.20 crore.

HCL Technologies Limited climbed 4.4% to Rs 1,538.25 after the company denied media report that the founder Shiv Nadar seeking potential buyers for his $10 billion stake in the company.

IL and FS Transportation Networks Ltd jumped 3.5% to Rs 107.80 after the company secured a road project worth about Rs 1,348.52 crore or $216.7 million in Spain.

Shree Renuka Sugars Limited tumbled 6.2% to Rs 21.10 after the Singapore-based agri-business company Wilmar International plans to acquire stake of 27.5% and invest about $200 million in the company.

Sandur Manganese & Iron Ores Ltd advanced 3.8% to Rs 532.10 after the Supreme Court permitted it to continue its mining operations.