6:00 PM Mumbai – Hindustan Unilever is in talk with Everstone Capital for investment in Modern Foods division. JSW Steel agreed to buy Italy-based Lucchini for $100 million. Mastek separated its insurance and service business into a new company. Central government of India approved the sale of 5% in ONGC.
The Sensex Index declined 324.05 or 1.2% to close at 26,492.51 The CNX Nifty dropped 109.10 or 1.4% to 7,932.90.
Gainers & Losers
Hindustan Unilever Ltd
rose 0.5% to Rs 758.35 after the company is in talk with private equity fund Everstone Capital on partnership for its Modern Foods division.
JSW Steel Limited
declined 4.4% to Rs 1,274.90 after the steel producer plans to acquire Italy-based Lucchini SpA for about $100 million.
Larsen & Toubro Limited
slumped 2.8% to Rs 1,516.90 after the company won orders worth Rs 2,050 crore in August and September.
surged 13.2% to Rs 306.20 after the company demerge its insurance product and service business into a new company as “Majesco.”
Oil & Natural Gas Corporation Limited
dropped 2.9% to Rs 408.75 after the central government approved the sale of 5% stake in the company.