Money on the markets
A maturing market amid the mayhem
Bharti Airtel was in the limelight after it announced the restart of merger talks with South Africa’s MTN. The news saw Bharti’s shares closing 5.4 percent down on fears that its earnings would initially be diluted after the deal. The counter had risen by over 8 percent earlier in the day.
Ranbaxy’s shares jumped 20 percent after Daiichi Sankyo said on Sunday that Malvinder Singh, chairman and chief executive of its Indian unit had resigned.
In the broader market, the BSE Small-Cap index jumped over 5 percent and the mid-cap index gained 2.8 percent. Some top gainers included JP Hydro-Power, United Breweries and MRF, all gaining around 20 percent.