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Market Update

Bharti Airtel Divest Telecom Towers in Africa, Punj Lloyd Soars 10%


Author: Mukesh Buch
ticker.com
Last Update: 9:46 AM ET September 08 2014

6:00 PM Mumbai – Bharti Airtel divested more than 3,500 telecom towers in Africa. Cipla plans to acquire two manufacturing units from Japan for Rs 100.93 crore. L&T won new orders worth Rs 1,920 crore from domestic oil and gas companies.

The Sensex Index climbed 293.15 or 1.1% to close at 27,319.85 The CNX Nifty jumped 87.05 to 8,173.90.

Gainers & Losers

Bharti Airtel Limited gained 0.7% to Rs 403.20 after the wireless carrier signed agreement to divest more than 3,500 telecom towers from its African operations to Eaton Towers.

Cipla Ltd increased 1.1% to Rs 563.40 after the generic drug maker plans to acquire two manufacturing units from Japan-based manufacturer for Rs 100.93 crore.

IRB Infrastructure Developers Ltd edged up 0.1% to Rs 266.15 after the company secured an order related to Mumbai-Pune Expressway and National Highway-4.

Larsen & Toubro Limited gained 1.02% to Rs 1,625.70 after the company won new orders worth Rs 1,920 crore from domestic oil and gas companies.

Punj Lloyd Limited soared 9.9% to Rs 40.60 after the company secured a rapid tank farm order worth Rs 3,515 crore from PRPC Refinery and Cracker, a subsidiary under the PETRONAS group.

Venus Remedies Limited surged 7.9% to Rs 297.45 after the company’s subsidiary signed an agreement with the U.S. based Mylan for marketing its generic drugs in 3 countries in Europe.

L&T Finance Holdings Limited advanced 0.9% to Rs 67.40 after net loss in the fourth-quarter widened to Rs 5.58 crore from Rs 1.23 crore a year ago period.

Sales in the quarter plunged 22.7% to Rs8.97 crore.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc