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Market Update

Sensex in Mumbai Jumps 1%, Rupee in 6-Day Rally

Author: Sarla Buch
Last Update: 7:12 AM ET December 23 2015

6:00 PM Mumbai, India – Rupee strengthens for the sixth day in a row. Wipro agreed to acquire Viteos Group for about $130 million. L&T secured orders worth ₹1,178 crore in December. Tata Steel is in talks to sell its U.K.-based steel unit to a private equity firm.

Stocks in Mumbai traded higher and the Sensex index jumped 1% at close after the rupee advanced for the sixth session in a row and reached to a level not seen since November 20.

Rupee strengthened 9 paisa to ₹66.23 against one U.S. dollar.

The Sensex Index increased 259.65 or 1% to close at 25,850.30. The CNX Nifty gained 79.85 or 1% to 7,865.95.

Gainers & Losers

Kalpataru Power Transmission Limited jumped 3.4% to ₹266.75 after the metal frameworks maker won new orders worth ₹1,395 crore.

Larsen & Toubro Limited rose 1% to ₹1,292.95 after the construction services provider said its construction division, L&T Construction, secured orders worth ₹1,178 crore in December.

Piramal Enterprises Limited increased 1% to ₹952.85 after the pharmaceutical products maker agreed to buy five consumer products brands for ₹92 crore from Organon India Pvt. Ltd. and MSD BV.

Prestige Estates Projects Limited edged down 0.2% to ₹194.30 after the real estate developer agreed to acquire Red Fort India Real Estate Holdco’s 62.54% stake in Bengaluru’s Exora Business Park for about ₹1,400 crore.

Tata Steel Limited advanced 2.5% to ₹263.70 after the steel producer is in talks to sell its struggling U.K.-based steel unit to the U.K.-based private investment firm Greybull Capital.

Welspun Enterprises Limited soared 12.2% to ₹58.05 after the infrastructure developer sold its 37% stake in Dewas-Bhopal road project.

Wipro Limited edged up 0.03% to ₹555.80 after the information technology services provider signed an agreement to acquire Viteos Group for about $130 million.

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