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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Tue, Mar 09 2010. 11 20 PM IST
Updated: Tue, Mar 09 2010. 11 20 PM IST
Tata Motors (2.71% down)
Shares of Tata Motors Ltd fell after the German auto maker Daimler AG sold 25.5 million shares (5.34% equity) in the company at Rs750 per share. The promoters of Tata Motors hold 38.08% stake, out of which Tata Sons holds 27.13%, while the rest is held by other group firms.
Bank of Rajasthan (6.7% down)
The Bank of Rajasthan Ltd stock ended 6.7% down after the Securities and Exchange Board of India passed an order against the bank on back of incorrect disclosure regarding the shareholding pattern of the promoter group led by Pravin Kumar Tayal and inter-firm transfers of funds.
Exide Industries (3.94% up)
Shares of Exide Industries Ltd rose 3.94% after the company raised $120 million through qualified institutional placement of shares at Rs107.9 per share. The proceeds are likely to be used for research and development initiatives and adoption of fresh technologies to cope with future challenges.
India Cements (4.35% down)
Shares of India Cements Ltd fell 4.35% after the firm raised $75 million through a qualified institutional placement (QIP). The firm opened the QIP book on Monday for raising $40-75 million. The funds will be used for expansion and the firm plans to set up captive power plants.
Hanung Toys (16.34% up)
The Hanung Toys and Textiles Ltd stock surged 16.34% after the company told CNBC-TV18 that it is looking to raise $50 million through the qualified institutional placement route and all necessary approvals have been taken for the same.
Digjam (3.59% down)
Shares of Digjam Ltd ended 3.59% down after Asset Reconstruction Co. (India) Ltd (Arcil) reduced its stake in the company by 10.8% from 27.7% to 17%. Arcil has said this is not a one-off sale and that it has taken some stakes in Digjam as a part of the Birla VXL Ltd restructuring.
Morarjee Textiles (20.18% up)
Shares of Morarjee Textiles Ltd jumped 20.18% on news that the company’s board is considering and evaluating the merger of its subsidiary Integra Apparels and Textiles Ltd (IATL) with the firm. Currently, Morarjee Textiles holds 94.31% of the equity capital of IATL.
Prithvi Info (10.41% up)
Shares of Prithvi Information Solutions Ltd surged 10.41% after the company refuted charges of cheating levelled by Sojitz Corp. The company claimed that Sojitz’s faulty documentation caused it losses worth Rs97crore. The issue is still pending in a Hyderabad court.
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First Published: Tue, Mar 09 2010. 11 20 PM IST
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