Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Tue, Apr 27 2010. 01 15 AM IST
Updated: Tue, Apr 27 2010. 10 23 AM IST
Sun Pharma (4.81% down)
Shares of Sun Pharmaceuticals Ltd closed down 4.81% after a US district court ruled that the company will have to stop selling its generic version of Sanofi Aventis’ eloxatin in the US from 30 June until 9 August 2012. The move may reduce the firm’s earnings per share in FY12 by Rs7.70.
Sterlite (5.97% up)
The Sterlite Industries Ltd stock ended up 5.97% after the firm reported better than expected fourth quarter results. Net income jumped 130% to Rs1,381 crore in the quarter ended 31 March as sales rose 63% to Rs7,110 crore. The board approved a 1:1 bonus issue and set a 2:1 stock split ratio.
Reliance Industries (1.6% down)
Shares of Reliance Industries Ltd (RIL) closed down 1.6% after fourth quarter results missed expectations. RIL on Friday posted a 30% rise in net profit for the quarter, on the back of its new refinery and gas production, to Rs4,710 crore, but the numbers fell short of street expectations.
GMR Industries (4.73% up)
The GMR Industries stock ended up 4.73% after EID Parry agreed to buy a 65% stake in the company. EID Parry is set to acquire up to 12.98 million shares at Rs57.35 each, after which the firm will make an open offer to shareholders for 3.99 million shares, or 20%, at Rs110.69 each, it told the stock exchanges on Monday.
Maruti Suzuki (2.03% down)
Shares of Maruti Suzuki closed down 2.03% after the auto maker missed forecast for fourth quarter profit. The firm reported net profit of Rs656 crore in the quarter under review against CNBC-TV18 estimate of Rs718 crore. The firm was hit by higher input costs, initial cost of new models and adverse currency movements.
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First Published: Tue, Apr 27 2010. 01 15 AM IST
More Topics: CNBC-TV18 | Stocks | Markets | Maruti | GMR |