Hind Rectifiers (20% Up)
Shares of Hind Rectifiers along with Titagarh Wagons and Texmaco gained over 15% as rail related stocks begin their northward journey ahead of the Rail Budget to be presented on 24 February. Hind Rectifiers derives 60% of its revenues from the railway sector.
Fame India (5.07% Up)
Shares locked in upper circuit for the tenth day as Reliance Capital continues to hike stake in Fame—now over 8.1%. Reports suggest that Reliance Media Works may make a counter open offer at Rs80/share. Inox’s open offer at Rs51/share starts 1 April. The stock is up 60% in 11 sessions.
Orbit Corp (6.79% Up)
CNBC-TV18 learns that the income-tax department has raided six premises of Orbit on suspected bogus purchase billing of over Rs300 crore in the last three years. The stock down more than 5% at one point in trade saw a sudden buying interest in late trade to end significantly higher.
Vishal Retail (3.25% Up)
The stock gained after a CNBC-TV18 exclusive that private equity firm TPG plans to demerge assets into three segments—wholesale, retail and a water park venture. The listed entity will be the holding company; all liabilities to shift to the wholesale cash and carry venture.
Burnpur Cement (8.79% Up)
The firm gained almost 9% on volumes of more than 1.7 million shares. The management told CNBC-TV18 it sees 15- 20% growth in revenues in Q4. Burnpur is setting up an 800-tpd integrated cement plant at an investment of over Rs200 crore
Educomp (1.54% Up)
The management told CNBC-TV18 that supplemental education will be the next big focus area for Educomp. The target for FY11 is an ambitious addition of 2,500 smart class schools. It expects margins to be stable with an upward bias.
Sh Ashtavinayak (5% Down)
The stock continues its downward spiral ending 5% lower. A sudden spurt in interest saw the stock gain more than 90% between 29 January and 4 February. A bout of correction has seen it now move back to where it started two weeks ago.