BSE Sensex rise 50 points on hopes of better IIP data

Feb 12 2013, 09:57 IST
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Sensex snapped its eight-session losing streak and recovered by 50.20 points to 19,510.77. (Reuters) Sensex snapped its eight-session losing streak and recovered by 50.20 points to 19,510.77. (Reuters)
SummarySensex snapped its eight-session losing streak and recovered by 50.20 points to 19,510.77.

authorised to talk to the media.

Tata Power Co Ltd is in early-stage talks with Green Infra Ltd to merge the renewable energy assets of both companies, a person with direct knowledge of the development said.

Jaiprakash Associates reported October-December net profit fell 64.2 percent to 1.11 billion rupees from a year ago.

India's sugar production for the 2013/14 season is set to fall below consumption for the first time in four years as a water shortage trims acreage in three key states.

INDUSTRIAL

Voltas Ltd reported October-December swung to a net profit of 768.1 million from a net loss of 1.15 billion rupees a year ago.

TELCO

Russia's Sistema and Malaysia's Maxis Group have shelved talks for a possible buyout of Indian telecom operator Aircel after inconclusive negotiation on price and a recently failed government auction of airwaves, The Economic Times reported citing two people close to the deal.

IT

Nielsen Holdings NV increased the size of its contract with Tata Consultancy Services Ltd to $2.5 billion from $1 billion.

DRUGS / HEALTH CARE

Private equity firm Apax Partners LLP sold half its stake in Apollo Hospitals Enterprise Ltd to Oppenheimer Funds Inc for about 5.23 billion rupees ($97 million). Piramal Enterprises Ltd said October-December net profit surged to 610.7 million rupees from 85.2 million rupees a year earlier.

RETAIL / LEISURE

Securities and Exchange Board of India has allowed Diageo Plc more time to begin buying shares of United Spirits Ltd from public shareholders, JM Financial, which is managing the open offer for Diageo, said in a filing with the BSE on Monday.

Indian Hotels Co's board will decide whether to proceed with a bid for Orient-Express Hotels in the current fiscal year ending March, a top company executive said on Monday.

MEDIA

Endemol India and Eros International Media Ltd have agreed on a joint venture in which the two companies will equally share investments and revenues, Deepak Dhar, managing director and CEO of Endemol India, said.

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