The BSE Sensex lost 370.87 points to close at 10,042.06 Monday. The index dipped sharply on account of profit-taking in some index heavyweights.

Losers included Tata Steel , which lost 6.88%; Hindalco, which shed 6.70%; and Tata Motors ( TTM), which dropped 5.79%.

Bucking the trend was HDFC Bank ( HDB), which rose 2.69%.

Aditya Birla Nuvo lost 0.42% despite news that it has inked a pact to acquire Minacs Worldwide, Canada"s leading BPO provider, for $125 million. The combined business will have a revenue base of about $300 million.

Tata Coffee gained 1.70% on the news that it has signed a definitive agreement to acquire U.S. based Eight 0"Clock Coffee from Gryphon Investors for $220 million. The deal is expected to benefit Tata Coffee in terms of gaining ownership of the well known US brand.

This story was created through a joint venture between TheStreet.com and IRIS.