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Market Update

Infosys to Acquire Mobile Commerce Services Provider, Sensex Falls

Author: Mukesh Buch
Last Update: 9:37 AM ET June 05 2015

6:00 PM Mumbai Infosys acquired the U.S. digital e-commerce services provider for $120 million.Nestle India edged down 2% after FSSAI ordered the company to recall nine Maggi noodle versions in India. Adhikari Brothers jumped 4% on 57% increase in revenues.

Market indexes in Mumbai extended weekly losses on Friday and rupee edged higher after a week of volatile trading.

Rupee strengthened 25 paisa to 63.75 against one U.S. dollar.

The Sensex Index decreased 44.93 to close at 26,768.49. The CNX Nifty fell 15.95 to 8,114.70.

For the week, the Sensex Index and the CNX Nifty declined 3.8%.

Infosys, agreed to acquire the U.S. based holding company that provides a range of services for retailers to build mobile wallets, web stores and apps.

Gainers & Losers

Aditya Birla Nuvo Limited increased 2.5% to ₹1,750.20 and the conglomerate plans to hold 51% stake in Aditya Birla Health Insurance Co. Ltd.

GVK Power & Infrastructure Ltd climbed 6.6% to ₹8.08 after the infrastructure developer agreed to acquire 100% stake in GVK Airport Services on June 4.

Idea Cellular Limited advanced 2.5% to ₹178.05 after the wireless services provider plans to increase mobile data rates by up to 100% for pre-paid customers in Delhi and in the National Capital Region.

Infosys Limited fell 0.8% to ₹2,012.10 after second largest software service provider agreed to acquire U.S.-based Kallidus Inc. for $120 million.

Khaitan Electricals Limited increased 1.5% to ₹55.25 after the electrical goods maker said net in the net loss in the fourth-quarter narrowed to ₹4.78 crore compared to ₹12.85 crore in the same period a year ago.

Net sales in the quarter plunged 10.3% to ₹147.39 crore.

Lupin limited increased 1.3% to ₹1,771.60 after the genetic drug maker said that the company received approval for generic drug exforge HCT from U.S. Food and Drug Administration.

Nestle India Limited edged down 0.2% to ₹5,997.10 after the Food Safety and Standards Authority of India ordered the company to recall nine Maggi noodle versions from India.

Sri Adhikari Brothers Television Network Limited jumped 4.3% to ₹251.10 after the net loss in the fourth-quarter narrowed to ₹0.95 crore compare to ₹3.60 crore in the same period last year.

Total sales in the quarter surged 57.3% to ₹26.28 crore.

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