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Market Update

Sensex Rises 0.9%, Bharti in Telecom Tower Talks with Idea and Vodafone


Author: Mukesh Buch
ticker.com
Last Update: 9:18 AM ET July 16 2015

6:00 PM Mumbai Sensex extended weekly gains. Bharti is in advanced talks with Vodafone and Idea Cellular to acquire telecom towers for $1.6 billion. Reliance started to sell diesel to Indian Railways. Adani Power secured three power transmission projects in Chhattisgarh.

Stocks in Mumbai traded higher and the rupee edged lower a day after trade deficit for May was at a three-month low of $10.41 billion, marginally lower than $10.99 billion in April.

Rupee weakened 12 paisa to 63.53 against one U.S. dollar.

The Sensex Index advanced 247.83 or 0.9% to close at 28,446.12. The CNX Nifty increased 84.25 or 0.9% to 8,608.05.

Gainers & Losers

Adani Power Limited climbed 4.6% to ₹29.35 after the company secured three power transmission projects worth ₹3,666 crore in Chhattisgarh.

Adani Ports and Special Economic Zone Limited gained 2.3% to ₹326.95 after the port developer received permission from Kerala government to develop Vizhinjam International Deepwater Project for about ₹4,089 crore.

Asian Paints Limited added 1.1% to ₹846.25 after the paint maker plans to set up ₹2,300 crore water-based paint manufacturing unit in Karnataka.

Bharti Infratel Limited advanced 1.3% to ₹453 after the company is in talks to purchase telecom towers from the U.K. based Vodafone and the Aditya Birla Group controlled Idea Cellular for about ₹10,080 crore or $1.6 billion.

Everest Industries Limited declined 7.1% to ₹388.90 after net in the first-quarter jumped 16.9% to ₹22.94 crore.

Net sales in the quarter advanced 5.6% to ₹402.25 crore.

Hatsun Agro Products Limited surged 10.7% to ₹434.45 after net in the first-quarter soared 291.4% to ₹28.69 crore.

Net sales in the quarter climbed 23.2% to ₹865.27 crore.

Mastek Ltd jumped 3.8% to ₹195.30 after net in the first-quarter plunged 31.9% to ₹4.40 crore.

Total revenues tumbled 49.8% to ₹139.10 crore.

Reliance Industries Limited increased 1.4% to ₹1,026.10 after the conglomerate started to sell diesel to Indian Railways for the first time in a decade.

Siemens Limited edged up 0.3% to ₹1,478.75 after the company secured a turnkey order worth ₹123 crore from Power Grid Company of Bangladesh.

South Indian Bank Limited declined 5.5% to ₹24.05 after net in the first-quarter plunged 48.4% to ₹65.29 crore. Net revenues in the quarter rose 1% to ₹1,480.51 crore.

The bank added the ratio of gross non-performing assets in the quarter jumped to 1.85% from 1.71% in March and 1.5% in the same period a year ago.

Thermax Limited advanced 1.7% to ₹1,055.80 after the engineering solutions provider signed an agreement to acquire 33% stake for ₹20 crore in Pune-based First Energy Pvt. Ltd.

Va Tech Wabag Ltd jumped 4.1% to ₹792.20 after the company secured orders worth ₹1,000 crore during first-quarter.

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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