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Market Update

Sensex Jumps 1.1%, ONGC in $400 M Expansion in Kazakhstan

Author: Mukesh Buch
Last Update: 9:58 AM ET June 18 2015

6:00 PM Mumbai Indexes in India rose bucking the downtrend in Asia after the U.S. Federal Reserve indicated gradual increase in rates. ONGC plans to invest up to $400 million in Kazakhstan. Bharti agreement with Africa-based Helios Tower to sell its tower assets in Tanzania and Chad are cancelled.

Market indexes in Mumbai traded higher after the latest comments from the U.S. Federal suggested a gradual increase in interest rate.

However, foreign investors continued to trim exposures to Indian stocks. According to the latest data from the exchanges, foreign investment institutions sold net ₹940.91 crore worth stocks.

Rupee climbed 36 paisa to 63.75 against one U.S. dollar.

The Sensex Index jumped 283.17 or 1.1% to close at 27,115.83. The CNX Nifty gained 83.05 or 1% to 8,174.60.

Gainers & Losers

Amtek Auto Limited plunged 12.5% to ₹133.65 after the company is facing hurdles in completing its $70 million foreign currency convertible bonds issue.

Bharti Airtel Limited added 1.3% to ₹426.55 and the largest wireless services provider cancelled its agreement to sell its telephone tower assets in Tanzania and Chad to Africa-based Helios Towers.

Himatsingka Seide Ltd gained 2.2% to ₹80.70 after the retailer said the government of Karnataka approved Hassan facility expansion with an investment about ₹1,325 crore.

Orchid Chemicals & Pharmaceuticals Limited surged 14.2% to ₹56.35 after the pharmaceutical products maker received an approval from the U.S. health regulator for generic version anti-bacterial Gemifloxacin Mesylate tablets used in the treatment of chronic bronchitis and mild pneumonia.

Oil and Natural Gas Corporation Ltd advanced 2.6% to ₹314 after the explorer plans to invest up to $400 million to expand its business in Kazakhstan.

Tata Motors Limited rose 2.7% to ₹445.45 after the truck and motor vehicle maker partnered with the largest tyre maker CEAT and mobile commerce platform Paytm for loyalty programmes.

Torrent Pharmaceuticals Limited increased 1.8% to ₹1,331.60 after the government permitted foreign investor investment limit to 35% from 13%.

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