Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls

Bharti Airtel (3.88% up)

Shares of Bharti Airtel Ltd were up 3.88% after the deal with MTN Group Ltd was called off. Analysts believe that, in the short term, this augurs well for Bharti as balance sheet stress concerns are obviated. Also, the company will now be able to focus more on its core domestic operations.

Maruti Suzuki (3.16% down)

Shares of Maruti Suzuki India Ltd were down 3.16% on Thursday as sales were marginally below expectations at 83,306 units. The company told CNBC-TV18 that it is working at full capacity and it’s unlikely that capacity expansion would happen in the next three-four months.

Grasim Industries (3.62% down)

Shares of Grasim Industries Ltd were down 3.62% on the National Stock Exchange on Thursday on speculation that the firm may demerge its cement business into a separate company. The Grasim board is scheduled to meet on 3 October to consider a proposal for the restructuring of its business.

Gulf Oil (5% up)

Shares of Gulf Oil Corp. Ltd were up 5%on the National Stock Exchange on Thursday as the company entered into a definitive agreement with Biocon Ltd to sell its 100% subsidiary IDL Specialty Chemicals Ltd, which is into active pharmaceutical ingredients (API) business.