Skip to main content

Posts

Showing posts with the label Torrent Power

Market Update - RCom shares gain 10%, ADAG stocks in focus, L&T slumps

RCom shares gain 10% - Shares of Anil Ambani-led Reliance Communications surged 10% on Tuesday afternoon to Rs 4.40, after a statement confirmed that RCom has made a payment of Rs 550 crore and interest thereon to Ericsson, in compliance of the judgement of the Supreme Court. Gainers include Sun Pharma, BPCL, RIL, Bharti Airtel, SBI, Axis Bank, PNB, Canara Bank, while losers are Maruti Suzuki, Eicher Motors, ICICI Bank, Hero Moto, M&M, Bajaj Auto and L&T. Among the sectors, auto, infra and metal are under pressure, while pharma, IT, energy and bank are witnessing buying interest. L&T slumps - Larsen & Toubro on Monday said it has bought a 20.32 per cent stake in IT services company Mindtree for Rs 3,269 crore. L&T, which is acquiring the shares from Indian coffee baron VG Siddhartha and companies related to him, said it had also placed an order with its broker for an on-market purchase of up to 15 per cent of Mindtree’s shares at Rs 980 per share. Cru...