Bharti Airtel Divest Telecom Towers in Africa, Punj Lloyd Soars 10%

Mukesh Buch
08 Sep, 2014
New York City

Bharti Airtel divested more than 3,500 telecom towers in Africa. Cipla plans to acquire two manufacturing units from Japan for Rs 100.93 crore. L&T won new orders worth Rs 1,920 crore from domestic oil and gas companies.

[R]6:00 PM Mumbai – Bharti Airtel divested more than 3,500 telecom towers in Africa. Cipla plans to acquire two manufacturing units from Japan for Rs 100.93 crore. L&T won new orders worth Rs 1,920 crore from domestic oil and gas companies.[/R]

The Sensex Index climbed 293.15 or 1.1% to close at 27,319.85 The CNX Nifty jumped 87.05 to 8,173.90.

Gainers & Losers

Bharti Airtel Limited gained 0.7% to Rs 403.20 after the wireless carrier signed agreement to divest more than 3,500 telecom towers from its African operations to Eaton Towers.

Cipla Ltd increased 1.1% to Rs 563.40 after the generic drug maker plans to acquire two manufacturing units from Japan-based manufacturer for Rs 100.93 crore.

IRB Infrastructure Developers Ltd edged up 0.1% to Rs 266.15 after the company secured an order related to Mumbai-Pune Expressway and National Highway-4.

Larsen & Toubro Limited gained 1.02% to Rs 1,625.70 after the company won new orders worth Rs 1,920 crore from domestic oil and gas companies.

Punj Lloyd Limited soared 9.9% to Rs 40.60 after the company secured a rapid tank farm order worth Rs 3,515 crore from PRPC Refinery and Cracker, a subsidiary under the PETRONAS group.

Venus Remedies Limited surged 7.9% to Rs 297.45 after the company’s subsidiary signed an agreement with the U.S. based Mylan for marketing its generic drugs in 3 countries in Europe.

L&T Finance Holdings Limited advanced 0.9% to Rs 67.40 after net loss in the fourth-quarter widened to Rs 5.58 crore from Rs 1.23 crore a year ago period.

Sales in the quarter plunged 22.7% to Rs8.97 crore.