Market News- Bharti Infratel Gains, Kotak Mahindra top gainers, Mindtree rises 2%

Bharti Infratel Gains After A Block Deal - Shares of Bharti Infratel rose as much as 2.7 per cent to Rs 321.60. About 16 crore shares of the company worth over Rs 5000 crore changed hands in a block deal during pre-market trade. While buyers and sellers were not known immediately, Bharti Airtel had earlier informed the exchanges that it will transfer up to 32 per cent stake to its wholly owned subsidiary Nettle Infrastructure Investments Ltd. by March 18.

Rupee Opens: The Indian rupee gained in the early trade on Monday. It opened higher by 18 paise at 68.91 per dollar against Friday's close 69.09.

Mindtree, IOC, Kotak Mahindra, Bharti Infratel, Axis Bank, Asian Paints, Power Grid, TCS, M&M are among major gainers, while losers are Maruti Suzuki, Grasim, Vedanta, NTPC and Wipro Among the sectors, auto, metal and pharma are under pressure, while Nifty Bank gained 1 per cent followed by energy, FMCG and Infra.

Kotak Mahindra Bank shares are trading 3% higher at Rs 1,360 to emerge as the biggest Sensex gainer. Bharti Airtel shares jumped 2% to 345.55. Maruti Suzuki shares slumped 2% to Rs 6,943 after the firm cut production demand by a quarter on the back of slow demand.

Mindtree rises 2%: The Mindtree founders are reaching out to top clients and engaging with key institutional investors to fend off attempts by engineering major Larsen & Toubro (L&T) from making a hostile takeover bid.

Bandhan Bank Falls : After Getting RBI Nod For Merger Shares of the private lender rose as much as 3.4 per cent to Rs 494.35 per share. Bandhan Bank received ‘no objection’ from Reserve Bank of India for amalgamation of Gruh Finance with the bank, according to an exchange notification.

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