Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Thu, Jun 04 2009. 11 10 PM IST
Updated: Thu, Jun 04 2009. 11 10 PM IST
Nucleus (up 11.67%)
Nucleus Software Exports Ltd shares rallied 11.67% after the company said it had won a project from Oman-based UFC. The company’s management told CNBC-TV18 that it expects margins to go up and that UFC revenues have started to accrue to the company.
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Satyam (up 5.68%)
Satyam Computer Services Ltd rose 5.68% after CNBC-TV18 reported that it is looking at various options to save costs and that rationalizing office space itself would save the company Rs50-100 crore annually. The company is also considering putting 5,000-10,000 employees on virtual bench.
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Orbit (up 5.01%)
Shares of real estate company Orbit Corp. Ltd were up 5.01% after the company’s board approved raising of up to Rs500 crore. While it is considering various options, the company told CNBC-TV18 that it was looking at a structured product which will limit equity dilution to 12%.
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Sundram (down 4.73%)
The Sundram Fasteners Ltd stock fell nearly 4.73% after posting a poor set of numbers. The auto parts company reported a Q4 net loss of Rs5 crore against a profit of Rs5 crore in same quarter in the previous year, while sales came in sharply lower at Rs224 crore against Rs312 crore a year earlier.
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Gujarat NRE (up 5.05%)
Gujarat NRE Coke Ltd rallied 5.05% after it made a hostile offer for Australia- based Rey Resources. The company told CNBC-TV18 it already owns 16.7% stake in Rey and has valued the company at $15 million. Managing director A.K. Jagatramka said the offer was “not in discussion or consent with” Rey.
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First Published: Thu, Jun 04 2009. 11 10 PM IST
More Topics: CNBC-TV18 | Nucleus | Sensex | Gainers | Losers |