India Approves Sun Pharma and Ranbaxy Merger

Mukesh Buch
09 Dec, 2014
New York City

HCL won a customer service software contract from the U.S.-based Washington Gas. IOCL plans to set up LNG terminal in Tamil Nadu. ITC plans to invest Rs 1,000 crore into dairy and juice business. Sun Pharma received approval from the antitrust regulator to acquire.

[R]6:00 PM Mumbai – HCL won a customer service software contract from the U.S.-based Washington Gas. IOCL plans to set up LNG terminal in Tamil Nadu. ITC plans to invest Rs 1,000 crore into dairy and juice business. Sun Pharma received approval from the antitrust regulator to acquire.[/R]

The Sensex Index slipped 322.39 or 1.2% to close at 27,797.01. The CNX Nifty dropped 97.55 or 1.2% to 8,340.70.

Gainers & Losers

HCL Technologies Limited slid 0.2% to Rs 1,559.80 after the software developer signed an agreement with U.S.-based Washington Gas to modernise customer service.

ICICI Bank Limited slipped 1.2% to Rs 350.40 and the largest private sector bank plans to sell overseas bonds to raise Rs 1,200 crore or $200 million.

Indian Oil Corporation Limited advanced 1.1% to Rs 347.95 and the petroleum products maker plans to set up LNG terminal in Tamil Nadu.

ITC Limited fell 0.9% to Rs 394.25 and the consumer goods provider plans to invest Rs 1,000 crore in dairy and juice business.

JSW Steel Limited dropped 2.2% to Rs 1,108.05 and the steel producer said crude steel production in November rose 3% to 11.07 lakh tons from 10.72 lakh tons in the same period a year ago.

Technofab Engineering Limited jumped 2.6% to Rs 141 and the infrastructure developer secured two contracts worth Rs 262 crore.

Sun Pharmaceutical Industries Limited increased 1.5% to Rs 840.90 after the company received approval from antitrust regulator to acquired Ranbaxy Laboratories worth $4 billion.