Weekly Jump of 2.9% in Sensex, Tata Motor Plans $700 M Debenture Issue

Mukesh Buch
17 Jul, 2015
New York City

Tata Motors plans to raise ₹4,400 crore through a non-convertible debentures offering. Crompton Greaves won a contract in Saudi Arabia. MindTree agreed to acquire UK-based management consultancy.

[R]6:00 PM Mumbai – Tata Motors plans to raise ₹4,400 crore through a non-convertible debentures offering. Crompton Greaves won a contract in Saudi Arabia. MindTree agreed to acquire UK-based management consultancy.

Sensex index in Mumbai traded higher and for the week the index gained 2.9% as investors focus on domestic earnings and the government announced more measures to streamline foreign direct investment.

Rupee strengthened 4 paisa to 63.47 against one U.S. dollar.

The Sensex Index rose 17.19 to close at 28,463.31. The CNX Nifty edged up 1.80 to 8,609.85.

For the week, Sensex Index and CNX Nifty climbed 2.9%.

Gainers & Losers

Bajaj Electricals Limited decreased 0.9% to ₹279.05 after electrical products maker secured an order from Karnataka Power Transmission Corporation worth ₹88.59 crore.

Crompton Greaves Limited advanced 2.6% to ₹197.80 after the electrical products maker won a new contract to provide ZIV protections to Saudi Electricity Company.

Delta Corp Limited climbed 4.6% to ₹81.70 after net in the first-quarter swung to profit ₹0.10 crore compared to a loss of ₹19.57 crore in the same period last year.

Net sales in the quarter soared 46.2% to ₹81.45 crore.

FAG Bearings India Limited jumped 3% to ₹4,319.95 after net in the first-quarter climbed 20.8% to ₹49.27 crore.

Net sales in the quarter advanced 10.5% to ₹428.77 crore.

Man Industries (India) Ltd decreased 1.3% to ₹117.50 after net profit in the first-quarter surged 460.4% to ₹17.71 crore.

Net sales in the quarter soared 90.8% to ₹403.89 crore.

MindTree Limited jumped 3.3% to ₹1,268.75 after net in the first-quarter advanced 7.4% to ₹138.20 crore. Net revenues in the quarter increased 6.9% to ₹981.60 crore.

In addition, the company also agreed to acquire UK-based Bluefin Solutions for ₹419 crore.

Mysore Petro Chemicals Ltd tumbled 14.6% to ₹62.80 after net in the first-quarter plunged 50.5% to ₹1.01 crore.

Net revenues in the quarter declined 32.1% to ₹6.29 crore.

Tata Motors Limited edged up 0.9% to ₹398.75 after the truck and motor vehicle maker plans to raise ₹4,400 crore through non-convertible debentures offering.