Sensex Jumps 1.1%, ONGC in $400 M Expansion in Kazakhstan

Mukesh Buch
18 Jun, 2015
New York City

Indexes in India rose bucking the downtrend in Asia after the U.S. Federal Reserve indicated gradual increase in rates. ONGC plans to invest up to $400 million in Kazakhstan. Bharti agreement with Africa-based Helios Tower to sell its tower assets in Tanzania and Chad are cancelled.

[R]6:00 PM Mumbai – Indexes in India rose bucking the downtrend in Asia after the U.S. Federal Reserve indicated gradual increase in rates. ONGC plans to invest up to $400 million in Kazakhstan. Bharti agreement with Africa-based Helios Tower to sell its tower assets in Tanzania and Chad are cancelled.

Market indexes in Mumbai traded higher after the latest comments from the U.S. Federal suggested a gradual increase in interest rate.

However, foreign investors continued to trim exposures to Indian stocks. According to the latest data from the exchanges, foreign investment institutions sold net ₹940.91 crore worth stocks.

Rupee climbed 36 paisa to 63.75 against one U.S. dollar.

The Sensex Index jumped 283.17 or 1.1% to close at 27,115.83. The CNX Nifty gained 83.05 or 1% to 8,174.60.

Gainers & Losers

Amtek Auto Limited plunged 12.5% to ₹133.65 after the company is facing hurdles in completing its $70 million foreign currency convertible bonds issue.

Bharti Airtel Limited added 1.3% to ₹426.55 and the largest wireless services provider cancelled its agreement to sell its telephone tower assets in Tanzania and Chad to Africa-based Helios Towers.

Himatsingka Seide Ltd gained 2.2% to ₹80.70 after the retailer said the government of Karnataka approved Hassan facility expansion with an investment about ₹1,325 crore.

Orchid Chemicals & Pharmaceuticals Limited surged 14.2% to ₹56.35 after the pharmaceutical products maker received an approval from the U.S. health regulator for generic version anti-bacterial Gemifloxacin Mesylate tablets used in the treatment of chronic bronchitis and mild pneumonia.

Oil and Natural Gas Corporation Ltd advanced 2.6% to ₹314 after the explorer plans to invest up to $400 million to expand its business in Kazakhstan.

Tata Motors Limited rose 2.7% to ₹445.45 after the truck and motor vehicle maker partnered with the largest tyre maker CEAT and mobile commerce platform Paytm for loyalty programmes.

Torrent Pharmaceuticals Limited increased 1.8% to ₹1,331.60 after the government permitted foreign investor investment limit to 35% from 13%.