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BW Businessworld

Shares Of Firms With Europe Operations Up

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Investors eye stocks of Indian companies with exposure or units in Europe after ECB President Mario Draghi launched a series of measures to pump money into the sluggish euro zone economy.

The European Central Bank cut interest rates to record lows on Thursday (05 June) among a series of measures to revive the euro zone economy, and pledged to do more if needed to fight off the risk of Japan-like deflation.

Companies that get at least over a third of their revenue from Europe registered gains: Tata Steel up 5 per cent, Amtek Auto surges 17 per cent, Motherson Sumi Systems gains 1.8 per cent, Havells India rises 0.3 per cent after surging 10.8 per cent on Thursday.

Among other stocks, Bharat Forge, Balkrishna Industries and, IT and pharmaceutical exporters are also on the radar.

(Reuters)