Sensex leaps

Mumbai, Aug. 29: The benchmark sensex today surged 516 points, the biggest rise in four weeks, on all-round buying, particularly in interest sensitive banking and realty stocks, after inflation saw a decline yesterday. Marketmen said bourses ignored a slower 7.9 per cent GDP expansion as investors felt the growth rate was on expected line after a tight monetary policy by the Reserve Bank of India.

L&T debt

Mumbai, Aug. 29: Larsen & Toubro (L&T) may raise up to $400 million debt in the current fiscal to fund expansion. “It could be syndicated loan or a private placement of debt,” L&T chief financial officer Y.M. Deosthaleehe said.

Pfizer win

New Delhi, Aug. 29: Pfizer has won a legal battle in Denmark in its patent litigation over anti-cholesterol drug Lipitor with Ranbaxy. The court ruled that the basic patent, which expires in November 2011, would be infringed by Ranbaxy’s generic atorvastatin product.