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New Delhi: Shares of Tata Teleservices and Reliance Communications surged up to 7% on Monday amid reports of merger talks. The scrip of Tata Teleservices jumped 6.62% to end at Rs 6.44 on BSE. During the day, it zoomed 10.43% to Rs 6.67. Shares of RCom rose 4.37% to close at Rs 34.60. Intra-day, it gained 6.93%. As per reports, the union will see Tata Tele join the merged entity of RCom-Aircel and MTS. PTI
Unilever sinks as Kraft withdraws $143-bn bid
New York: Shares of Unilever, the owner of brands like Hellman’s, Lipton, and Knorr, are down sharply after rival Kraft Heinz withdrew a $143-billion takeover offer. The companies said Sunday in a joint press release that Kraft Heinz has “amicably” abandoned the offer.
Shares in Unilever slumped 6.5% on Monday to 41.91 euros in Amsterdam, one of the places they’re listed. They’d jumped 14% on Friday. AP
Lloyd shares tank 17% after Havells deal
New Delhi: Shares of Lloyd Electric & Engineering plunged nearly 17% on Monday after Havells said it will acquire the consumer durables business of the firm for about Rs 1,600 crore. The stock ended the day with a sharp loss of 16.75% at Rs 272.95 on the BSE. During the day, it tumbled 19.99% to Rs 262.30. At the NSE, shares of the company tanked 16.59% to close at Rs 273.20. pti
India offers digital tech to ASEAN countries
New Delhi: India on Monday offered ICT products to ASEAN countries at competitive costs and also renewed its pledge to share “know how” for telecom products and services. Inaugurating the India Telecom-2017 here, Minister of Communications Manoj Sinha said Indian telecom companies were willing to share technologies and enter into joint production ventures to develop entire telecom ecosystem in any host country. TNS
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