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Market Update

Sensex in India Rises 0.7%, Canada Pension Invests in L&T Infra

Author: Sarla Buch
Last Update: 7:12 AM ET December 16 2015

6:00 PM Mumbai, India Stocks in Mumbai edged higher after markets in Asia rebounded in cautious trading as investors anticipate first rate hike in the U.S. since 2006. HDFC Bank plans to raise up to $450 million through debenture offering.

Stocks in Mumbai rebounded and the Sensex index jumped 0.7% in active trading as Asian markets trim weekly losses.

Rupee strengthened 16 paisa to ₹66.76 against one U.S. dollar.

The Sensex Index gained 173.93 or 0.7% to close at 25,494.37. The CNX Nifty increased 50 or 0.7% to 7,750.90.

Gainers & Losers

Arcotech Limited advanced 2.9% to ₹354 after the copper-based alloys products maker secured order worth ₹335.37 crore from India Government Mint, Mumbai.

HDFC Bank Limited edged up 0.4% to ₹1,062.60 and the financial services provider said it plans to raise up to ₹2,975 crore through debenture offering.

Larsen & Toubro Limited closed unchanged at ₹1,283 after the Canada Pension Plan Investment Board completed its second tranche investment of ₹1,000 crore into the company''s subsidiary L&T Infrastructure Development Projects.

LIC Housing Finance Limited gained 1.6% to ₹478.20 after the housing loan provider plans to acquire 19.3% stake of LIC Nomura Mutual Fund Asset Management Company ₹27.3 crore.

Mahindra Holidays & Resorts India Limited increased 1.3% to ₹417 after the holiday facilities provider plans to buy 51% stake in Sweden-based Visionsbolaget 10088 AB for ₹7.1 crore.

Tata Consultancy Services Limited increased 1.3% to ₹2,406 after the information technology services provider won multi-million order from Germany-based Deutsche Lufthansa AG.

Thomas Cook (India) Limited gained 1.5% to ₹202.45 after the travel related financial services provider received an approval from the Competition Commission of India for its acquisition of Kuoni Travel India Pvt. Ltd.

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