Indian shares climbed higher, after posting their first weekly loss in over a month, led by automakers while IT firms slid on U.S. visa concerns.
The S&P BSE Sensex gained 0.4 percent to 28,965 while the NSE Nifty advanced 0.4 percent to 8,935.
Here are stocks that are moving the market:
Bharti Airtel: Ghana Deal Boost
Shares of Bharti Airtel rose 1.9 percent to Rs 362.14 after the telecom firm signed deal with Luxembourg's Millicom International to combine operations in Ghana.
The combined business would serve nearly 10 million customers and would have revenues close to $300 million, Bharti Airtel said in a regulatory filing.
As per the agreement, Airtel and Millicom would have equal ownership and governance rights in the combined entity, according to the filing.
In a separate release, Bharti Airtel said its board approved the scheme of amalgamation between Telenor India Communications and the company.
Shree Cement: Wins Coal Linkage
Shares of Shree Cement rose 1.6 percent to Rs 16,250 after it secured coal linkage to the order of 60,000 tonne a year for its plant at Raipur, Chhattisgarh.
The company secured the linkage from South Eastern Coalfields, a subsidiary of Coal India, it said in a regulatory filing.
The notified price per tonne is Rs 970, the filing said.
Cipla: To Sell Animal Health Business
Shares of the drugmaker rose 1.2 percent to Rs 594.91 after it decided to divest its animal health business in South Africa and sub-Saharan African.
Cipla will sell animal health business to South Africa's Ascendis Health Ltd. for 375 million rand, the company said in a release on Saturday.
The deal is expected to close in the next three months, the release added.
IT Stocks: H-1B Visa Woes
Shares of software makers such as Infosys, Tata Consultancy Services and Wipro fell between 0.3 percent and 1.3 percent after industry body NASSCOM said that the U.S. decision to temporarily suspend the expedited premium processing of H-1B visas will affect Indian tech firms.
NASSCOM, however, feels that the move will not be a “significant impediment” for the over $110 billion outsourcing industry, it said on Sunday.
The U.S. has announced that from April 3, it would temporarily suspend the 'premium processing' of H-1B visas that allowed some companies to jump the queue, as part of overall efforts to clear the backlog.
IDFC Ltd: Buys Stakes In Units
Shares of IDFC Ltd. rose 0.9 percent to Rs 51.65 after it said it would acquire the 25 percent stake currently held by Natixis in IDFC Asset Management and IDFC AMC Trustee through IDFC Financial Holding.
The deal is for Rs 244.24 crore, the company said in a exchange filing.
Tata Steel: May Scrap Merger Plans
Shares of Tata Steel fell 0.4 percent to Rs 493.10 after a U.K. media report claimed company may be considering calling off talks over a planned merger of its European business with German conglomerate Thyssenkrupp.
The deal may be under threat due to German pension liabilities, a report by the Sunday Times claimed.
The merger talks had been revealed by the Indian steel giant last year as part of a major restructuring of its UK steel business.
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