Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
Comment E-mail Print Share
First Published: Tue, Jun 23 2009. 12 30 AM IST
Updated: Tue, Jun 23 2009. 10 50 PM IST
IFCI Ltd (4.95% up)
The shares of IFCI Ltd gained 5% on Monday to close at Rs51.90 on the National Stock Exchange. The company’s management told CNBC-TV18 that it had never abandoned an equity issue option. The company also said its non-performing asset levels are down to nil.
*********************
MTNL (down 5.35%)
The Mahaganar Telephone Nigam Ltd stock declined 5.35% as analysts believe that the company has been hurt by the new 3G pricing. The firm will have to match the price of the highest bidder; analysts expect bidding for New Delhi and Mumbai at Rs600-700 crore against cash balance of Rs4,000 crore.
*********************
Reliance Industries (down 4.36%)
The shares of Reliance Industries Ltd (RIL) were down 4.36%. Petroleum minister Murli Deora said that profit-sharing agreement must be honoured and the contract with RIL at $4.20 per million British thermal units remains intact. RIL shares closed at Rs1,952.50 each.
*********************
GMR Infra (down 5.13%)
The shares of GMR Infrastructure Ltd declined 5.13% on the back of a delay in fund-raising. The firm had approved raising up to Rs5,000 crore on 9 June. The management maintains that a qualified institutional placement will be done at an appropriate time and has not been stalled.
*********************
DCB (down 5.12%)
The Development Credit Bank Ltd (DCB) stock declined 5.12% on the back of poor results. The lender reported a loss Rs88.1 crore in 2008-09, against a net profit of Rs38.33 crore in the year-ago fiscal. The share closed at Rs36.10 on the National Stock Exchange.
*********************
Maytas Infra (down 4.99%)
The shares of Maytas Infrastructure Ltd closed 5% lower on reports that the company may lose a Metro rail project contract. The Andhra Pradesh government is considering executing the Rs12,100 crore Hyderabad Metro rail project on its own with assistance from the Union government.
*********************
Jindal Saw (up 5.29%)
The shares of Jindal Saw Ltd gained 5.29% as the company won orders worth around Rs1,000 crore for supplying pipes for the domestic and export markets, which are scheduled to be executed by March next year. The firm’s total order book stood at Rs3,600 crore after the orders.
*********************
Emami (up 2.17%)
The Emami Ltd stock gained 2.17% after the Zandu-Emami restructuring. The company’s board approved demerger of Zandu’s consumer goods unit into Emami. The company management told CNBC-TV18 that it will list Emami Infra within six months.
Comment E-mail Print Share
First Published: Tue, Jun 23 2009. 12 30 AM IST
More Topics: CNBC-TV18 | Sensex | Maytas Infra | MTNL | Jindal Saw |