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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Wed, Feb 24 2010. 12 07 AM IST
Updated: Wed, Feb 24 2010. 12 07 AM IST
Aqua Logistics (11% up)
The Aqua Logistics Ltd share ended with 11% gains on its debut. The company said it was well on course to achieve a turnover of Rs300 crore in the current fiscal and that earnings per share would easily top the Rs12-13 mark. On a closing basis, the stock is trading at 20 times earnings.
Maruti Suzuki (3.6% down)
Shares of Maruti Suzuki India Ltd ended 3.6% lower following news that the company is recalling 100,000 units of its A Star model due to problems with the fuel pump gasket. When contacted, the company said it is in the process of solving this problem with no cost to customers. The markets expect the company to take a hit in its numbers on this.
Fame India (5% up)
Fame India Ltd hit another upper circuit of 5% even as the dates for Reliance MediaWorks’ open offer were announced. The stock has rallied one way from Rs44 per share to Rs92 per share and is now ruling even above the aggressive open offer made by the R-Adag firm.
AP Paper Mills (10.7% down)
Andhra Pradesh Paper Mills Ltd’s shares fell 10.7% as the stock went ex-rights on Tuesday. The company has offered rights shares in the ratio of 3:11 priced at Rs50 each.
Dhampur Sugar (8% down)
The shares of Dhampur Sugar Mills Ltd fell 8% in line with other sugar stocks as analysts raised concerns over the sugar cycle peaking. Sugar prices have fallen around 10% after hitting an all-time high in January.
Atul Ltd (16% up)
Atul Ltd shares rallied 16% with high volumes. The market is attributing the cause of this rally to its 6% holding in pharma company Wyeth India. Wyeth has been acquired globally by Pfizer and Atul’s stake in the company is likely to fetch it around Rs100 crore.
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First Published: Wed, Feb 24 2010. 12 07 AM IST