03:30 pm Market closing: The market ended with some
smart gains after hitting record highs. The Sensex ended up 55.50
points at 27915.88 and the Nifty was up 16.70 points at 8340.85. About
1633 shares have advanced, 1385 shares declined, and 108 shares were unchanged.
Axis Bank, Sun Pharma, Dr Reddy's Labs, ICICI Bank and SBI were top gainers
in the Sensex. Among the losers were Hindalco, Sesa Sterlite, Coal India, Hero
MotoCorp and Bharti Airtel
2:50 pm Market check: The market gets back its buying spree
in the last few minutes of trading. The Sensex is up 125.23 points at 27985.61
and the Nifty is up 33.85 points at 8358.00. About 1671 shares have advanced,
1256 shares declined, and 113 shares are unchanged.
Axis Bank, Dr Reddy's Labs, SBI, ICICI Bank and Sun Pharma are top gainers
in the Sensex. Among the losers are Sesa Sterlite, Coal India, Hindalco, Bharti
Airtel and NTPC.
2:30 pm Deal snapped: Telecom major Bharti Airtel has
called off its plans to acquire business and assets of Mumbai based Loop
Mobile, for about Rs 700 crore, as the Department of Telecom is yet to clear
the deal.
"Loop Mobile and Bharti applied to DoT for approval of the business
transfer in March 2014. The approval for the transaction is still awaited from
the relevant authorities as a result of which Bharti Airtel has withdrawn from
the proposed transaction causing huge loss to the company," Loop Mobile
spokesperson told PTI.
DoT is yet to give clearance to the deal as it estimates that Loop Mobile
and its sister concern Loop Telecom owe about Rs 808 crore in spectrum and
other charges to the government. Loop Mobile's permit in Mumbai is expiring on
November 29 and the company did not purchase spectrum in February auction which
was mandatory for continuing its operations. More information please visit this
site www.bigprofitbuzz.com
No comments:
Post a Comment