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Market Update

Sensex in India Advances 1.6%; MRF, TVS to Expand in Tamil Nadu

Author: Mukesh Buch
Last Update: 9:35 AM ET September 11 2015

6:00 PM Mumbai – Arvind Ltd, apparel retailer entered in a partnership with cosmetics retailer Sephora. MRF & TVS Motors finalize investment plans to expand manufacturing in Tamil Nadu. L&T is a step closer to issue bonds worth ₹9,600 crore.

In a lacklustre trading session on Friday, stocks in Mumbai closed lower and for the week the Sensex index advanced 1.6%.

Rupee weakened 12 paisa to 66.55 against one U.S. dollar.

The Sensex Index fell 11.96 to close at 25,610.21. The CNX Nifty rose 1.20 to 7,789.30.

For the week, Sensex Index increased 1.6% and CNX Nifty advanced 1.7%.

Gainers & Losers

Arvind Limited edged up 0.6% to ₹261.30 and the apparel retailer entered in a partnership with cosmetics and beauty retailer Sephora, owned by LVMH, a French luxury conglomerate.

Elder Pharmaceuticals Ltd surged 20% to ₹100.80 after the drug maker plans to sell its assets and trim debt.

Godrej Consumer Products Ltd gained 1.4% to ₹1,224.80 after the personal care products maker acquired 40% stake in Chile-based Cosmetica Nacional.

Hero MotoCorp Limited edged down 0.2% to ₹2,340 and the company is looking to set up manufacturing plans in Mexico, Argentina and Brazil.

The two-wheeler maker expects to utilize its recently built plant in Colombia as a regional export hub.

Larsen & Toubro Limited fell 0.9% to ₹1,599.15 after the infrastructure developer received shareholders’ approval to raise up to ₹9,600 crore through a bond offering.

Mahindra Lifespace Developers Limited advanced 1.9% to ₹463 after the real estate developer signed an agreement to set up an industrial park in Chennai in collaboration with Japan-based Sumitomo Corporation for about ₹400 crore.

MRF Limited edged down 0.3% to ₹40,533.60 after the largest tyre maker signed an agreement with Tamil Nadu government to acquire land and build a manufacturing plant.

The tyre maker plans to invest at least ₹4,500 crore located in Perambalur and Arakonam in the next 7 years.

Raymond Limited decreased 1.3% to ₹387.55 after the apparel retailer’s subsidiary completed the acquisition of Robot Systems from Gokaldas Exports for ₹28 crore.

TVS Motor Company Limited increased 1.9% to ₹232.60 after the second-largest motorcycle maker signed an agreement with Tamil Nadu government.

The company plans to invest ₹350 crore and expands manufacturing facilities located in Hosur during the next three years.

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