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Market Update

Oil India Wins Exploration Rights in Myanmar

Author: Mukesh Buch
Last Update: 8:49 AM ET December 15 2014

6:00 PM Mumbai – Bharti Airtel plans to sell 1,100 telecom towers in Zambia and Rwanda to IHS. GMR Infra’s subsidiary acquired 44.6% from Malaysia Aerospace Engineering. Tata Motors November global sales rose 2.4%. Oil India secured contract for two offshore oil and gas blocks in Myanmar.

The Sensex Index fell 31.12 to close at 27,319.56. The CNX Nifty slid 4.50 to 8,219.60.

Gainers & Losers

Bharti Airtel Limited rose 0.7% to Rs 350.05 and the largest wireless carrier plans to sell its 1,100 telecom towers in Zambia and Rwanda to IHS Holding.

GMR Infrastructure, Ltd plunged 5.5% to Rs 17.05 after the infrastructure service provider’s subsidiary acquired 44.61% stake from Malaysia Aerospace Engineering.

Mastek Limited surged 19.9% to Rs 324.80 after the insurance company’s subsidiary Majesco plans to merge with Cover- All Technologies and list Majesco on the NYSE.

Tata Motors Limited dropped 1.2% to Rs 493.80 and the truck and motor vehicle maker said November global wholesales rose 2.4% to 83,906 units and Jaguar Land Rover sales increased 3.4% to 41,318 units from a year ago period.

Oil India Limited declined 2.4% to Rs 534.25 and oil and gas explorer secured a contract for two offshore oil and gas blocks in Myanmar.

Whirlpool of India Limited slid 0.1% to Rs 612.70 and the home appliance maker plans to open 15 showrooms for all over country and targeted Rs 200 crore turnover by fiscal 2017.

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