Market Updates
M&M to Buy a Stake in Saab, ONGC Wins Oil Rights in New Zealand
Mukesh Buch
11 Dec, 2014
New York City
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Government approved to close down EIL unit in Malaysia. M&M agreed to acquire a stake in Sweden-based Saab. NTPC signed two term loan agreements worth Rs 3,000 crore. ONGC won an offshore oil and gas exploration block in New Zealand.
[R]6:00 PM Mumbai – Government approved to close down EIL unit in Malaysia. M&M agreed to acquire a stake in Sweden-based Saab. NTPC signed two term loan agreements worth Rs 3,000 crore. ONGC won an offshore oil and gas exploration block in New Zealand.[/R]
The Sensex Index declined 229.09 or 0.8% to close at 27,602.01. The CNX Nifty fell 62.75 or 0.8% to 8,292.90.
Gainers & Losers
Engineers India Limited added 0.4% to Rs 233.80 after the government approved the closure of a subsidiary in Malaysia.
Mahindra & Mahindra Limited rose 0.03% to Rs 1,265.65 and the tractor maker agreed to acquire a stake in Sweden-based struggling Saab Automotive.
NTPC Limited slipped 1.4% to Rs 133.70 after the power distributor signed two term loan agreements worth Rs 3,000 crore with banks.
Oil and Natural Gas Corporation Limited dropped 3% to Rs 350.20 and the oil explorer won an offshore oil and gas exploration block in New Zealand.
Om Metals Infraprojects Limited jumped 2.5% to Rs 28.50 after the infrastructure project operator secured a contract worth Rs 30.40 crore in Assam.
Tech Mahindra Limited advanced 1.7% to Rs 2,614.45 and the software services provider announced its intention to expand operations in Odisha.
Annual Returns
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Earnings
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