Bharti Airtel would sell 3,500 towers in six countries to Eaton and then lease it back from it. Though the value of the deal is not specified, speculative reports peg the deal at $800 million to $1 billion. Its move to sell and lease back towers to Eaton Towers is yet another step to reduce its debt burden.
BHEL’s city-based Electronics Division has bagged an order from National Power Training Institute for design, engineering, testing, supply, installation and commissioning of Operator Training Simulator for 800MW Super Critical Power Plant.
Bharat Forge has divested its 50 per cent stake in Impact Automotive Solutions, which was formed in 2010 as a joint venture with KPIT Technologies.
L&T Hydrocarbon Engineering, a fully-owned subsidiary of L&T, has secured orders worth Rs. 1,920 crore from domestic oil and gas majors.
Key benchmark indices surged as the recent steep slide in crude oil prices boosted sentiment. The barometer index, the S&P BSE and the CNX Nifty, both, scaled fresh record closing high. State-run upstream oil & gas firms and PSU OMCs gained as crude oil prices slumped on Friday, 5 September 2014. The market breadth indicating the overall health of the market was strong with over two gainers for every loser. The BSE Mid-Cap index rose 1.29%. The BSE Small-Cap index gained 2.11%.