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Market Update

India Movers: Bharti Airtel, ONGC, JSW Steel, Kirloskar Electric


Author: Mukesh Buch
ticker.com
Last Update: 9:08 AM ET July 10 2014

6:00 PM Mumbai Bharti Airtel divest approx 3,100 towers in four countries in Africa to Helios Towers. ONGC Videsh priced unsecured bonds worth $1.5 billion and 525 million. JSW Steel plans to import 6 million tons of iron ore from Canada and South Africa.

The Sensex Index fell 72.06 or 0.3% to close at 25,372.75 The CNX Nifty slid 17.25 to 7,567.75.

Finance Minister Arun Jaitley unveiled first Budget with proposals to boost growth and lower inflation and keep budget deficit under control.

Gainers & Losers

Bharti Airtel Limited slipped 1.2% to Rs 336 and telecom operator divested about 3,100 telecoms towers in four countries in Africa to Helios Towers Africa.

Oil & Natural Gas Corporation Limited slid 0.1% to Rs 404.05 after the companys subsidiary ONGC Videsh Limited priced $1.5 billion and 525 million of unsecured bonds in the international capital markets.

JSW Steel Limited rose 0.8% to Rs 1,200.95 after the company plans to import 6 million tons of iron ore in the current fiscal year from Canada and South Africa.

The company reported crude steel production the first-quarter climbed 8% to 3.10 million tons from 2.86 million tons and rolled products-flat jumped 9% to 2.43 million tons from a year ago.

Kirloskar Electric Company Ltd climbed 4.9% to Rs 31.85 after the company secured order worth Rs. 13 crore from Integral coach factory in Chennai.

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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