Sensex Weakness Persists, Bharti in $1 B Global Bond Offering

Mukesh Buch
04 Jun, 2015
New York City

Bharti plans to raise up to $1 billion through a global bond offering. The Reserve Bank of India lifted foreign investor limit to 40% in Adani Ports. Eicher Motors said Sweden-based Volvo AB plans to sell its 3.7% stake.

[R]6:00 PM Mumbai – Bharti plans to raise up to $1 billion through a global bond offering. The Reserve Bank of India lifted foreign investor limit to 40% in Adani Ports. Eicher Motors said Sweden-based Volvo AB plans to sell its 3.7% stake.

Sensex in Mumbai extended losses and rupee drifted to a new low in the year.

Rupee weakened 9 paisa to 63.99 against one U.S. dollar and traded as low as 64.27.

The Sensex Index fell 23.78 to close at 26,813.42. The CNX Nifty slid 4.45 to 8,130.65.

Gainers & Losers

Adani Ports and Special Economic Zone Limited climbed 4.5% to ₹311.25 after the Reserve Bank of India allowed foreign investors to invest up to 40% of the paid-up capital in the company.

Bharti Airtel Limited decreased 1.3% to ₹416 after the largest wireless service provider is planning a global bond offering of $1 billion or around ₹6,400 crore.

Eicher Motors Limited dropped 5.6% to ₹17,182.35 after the tractor and heavy duty vehicles maker said Sweden-based Volvo AB plans to sell its 3.7% stake in the company.

PTC India Financial Services Limited rose 0.8% to ₹40.40 after the financial services provider to raise up to for ₹213.50 crore through issuance of non-convertible debentures.

Reliance Power Limited fell 0.8% to ₹45.30 after the power projects developer said that to revise the production plan from two mines allocated to the Sasan ultra mega power project to 16 million ton per annum and present a new mining plan for the same.

Suzlon Energy Ltd rose 0.2% to ₹20.85 after the wind turbine maker received another order for 90.30 megawatts turnkey project from Haryana-based ReNew Power.

Vedanta Limited declined 3.3% to ₹181.30 after the mineral explorer agreed to acquire 4.98% stake for about ₹2,060 crore in Gurgaon-based Cairn India.