Sensex Rises 0.9%, Bharti in Telecom Tower Talks with Idea and Vodafone

Mukesh Buch
16 Jul, 2015
New York City

Sensex extended weekly gains. Bharti is in advanced talks with Vodafone and Idea Cellular to acquire telecom towers for $1.6 billion. Reliance started to sell diesel to Indian Railways. Adani Power secured three power transmission projects in Chhattisgarh.

[R]6:00 PM Mumbai – Sensex extended weekly gains. Bharti is in advanced talks with Vodafone and Idea Cellular to acquire telecom towers for $1.6 billion. Reliance started to sell diesel to Indian Railways. Adani Power secured three power transmission projects in Chhattisgarh.

Stocks in Mumbai traded higher and the rupee edged lower a day after trade deficit for May was at a three-month low of $10.41 billion, marginally lower than $10.99 billion in April.

Rupee weakened 12 paisa to 63.53 against one U.S. dollar.

The Sensex Index advanced 247.83 or 0.9% to close at 28,446.12. The CNX Nifty increased 84.25 or 0.9% to 8,608.05.

Gainers & Losers

Adani Power Limited climbed 4.6% to ₹29.35 after the company secured three power transmission projects worth ₹3,666 crore in Chhattisgarh.

Adani Ports and Special Economic Zone Limited gained 2.3% to ₹326.95 after the port developer received permission from Kerala government to develop Vizhinjam International Deepwater Project for about ₹4,089 crore.

Asian Paints Limited added 1.1% to ₹846.25 after the paint maker plans to set up ₹2,300 crore water-based paint manufacturing unit in Karnataka.

Bharti Infratel Limited advanced 1.3% to ₹453 after the company is in talks to purchase telecom towers from the U.K. based Vodafone and the Aditya Birla Group controlled Idea Cellular for about ₹10,080 crore or $1.6 billion.

Everest Industries Limited declined 7.1% to ₹388.90 after net in the first-quarter jumped 16.9% to ₹22.94 crore.

Net sales in the quarter advanced 5.6% to ₹402.25 crore.

Hatsun Agro Products Limited surged 10.7% to ₹434.45 after net in the first-quarter soared 291.4% to ₹28.69 crore.

Net sales in the quarter climbed 23.2% to ₹865.27 crore.

Mastek Ltd jumped 3.8% to ₹195.30 after net in the first-quarter plunged 31.9% to ₹4.40 crore.

Total revenues tumbled 49.8% to ₹139.10 crore.

Reliance Industries Limited increased 1.4% to ₹1,026.10 after the conglomerate started to sell diesel to Indian Railways for the first time in a decade.

Siemens Limited edged up 0.3% to ₹1,478.75 after the company secured a turnkey order worth ₹123 crore from Power Grid Company of Bangladesh.

South Indian Bank Limited declined 5.5% to ₹24.05 after net in the first-quarter plunged 48.4% to ₹65.29 crore. Net revenues in the quarter rose 1% to ₹1,480.51 crore.

The bank added the ratio of gross non-performing assets in the quarter jumped to 1.85% from 1.71% in March and 1.5% in the same period a year ago.

Thermax Limited advanced 1.7% to ₹1,055.80 after the engineering solutions provider signed an agreement to acquire 33% stake for ₹20 crore in Pune-based First Energy Pvt. Ltd.

Va Tech Wabag Ltd jumped 4.1% to ₹792.20 after the company secured orders worth ₹1,000 crore during first-quarter.