Shares of firms with Europe operations up after ECB move

Reuters Market Eye - 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 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 gain: Tata Steel up 5 percent, Amtek Auto surges 17 percent, Motherson Sumi Systems gains 1.8 percent, Havells India rises 0.3 percent after surging 10.8 percent on Thursday.

 

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

(Reporting by Abhishek Vishnoi)