Sensex in India Falls; L&T Finance in Stake Sale Talks

Mukesh Buch
07 Jul, 2015
New York City

Reliance plans to sell 3.1% stake in Network18. IRB Infra won an order worth ₹2,650 crore or $400 million from the National Highways Authority of India. Sterlite Tech secured an order of $1.1 in defence sector.

[R]6:00 PM Mumbai – Reliance plans to sell 3.1% stake in Network18. IRB Infra won an order worth ₹2,650 crore or $400 million from the National Highways Authority of India. Sterlite Tech secured an order of $1.1 in defence sector.

Stocks in Mumbai declined and the two widely followed indexes closed down in choppy trading.

Rupee strengthened 6 paisa to 63.46 against one U.S. dollar.

The Sensex Index fell 37.07 to close at 28,171.69. The CNX Nifty slid 11.35 to 8,510.80.

Gainers & Losers

Dish TV India Limited fell 1.1% to ₹105.55 after the direct-to-home services provider said the Mauritius-based Apollo India Pvt. Equity II reduced its 4.4% stake in the company.

IRB Infrastructure Developers Ltd edged up 0.3% to ₹239.25 after the infrastructure developer won an order worth ₹2,650 crore from the state-run National Highways Authority of India.

L&T Finance Holdings Limited soared 8.4% to ₹72.05 on a local report that the company may sell 25% stake to the U.S.-based private equity fund Warburg Pincus.

Power Grid Corporation of India Limited decreased 0.5% to ₹139.30 after the power transmission company said that the board permitted the investment approval for Green Energy Corridors of about ₹2,247.37 crore.

Reliance Industries Limited slipped 1% to ₹1,004.80 after the conglomerate plans to sell 3.1% stake in Network18 Media & Investments.

Sterlite Technologies Limited jumped 3.2% to ₹86.70 after the power transmission company won an order for ₹7,000 crore in defence sector.

Transformers & Rectifiers (India) Limited jumped 3.8% to ₹270 after the transformer maker received an order for ₹124 crore from Gujarat Energy Transmission Corporation.

Vascon Engineers Limited climbed 4.7% to ₹18.90 after the infrastructure developer secured an order worth ₹28.61 crore from Uttar Pradesh Housing & Development Board.