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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Tue, Jun 02 2009. 12 19 AM IST
Updated: Tue, Jun 02 2009. 12 19 AM IST
Suzlon (up 16.19%)
Suzlon Energy Ltd stock gained 16.19%. Brokerage firms say Suzlon is a long-term positive, after the wind turbine firm revised its payment schedule to Martifer for a stake in REpower Systems AG.
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Adlabs Films (up 11.67%)
The shares of Adlabs Films Ltd were up 11.67% on reports that the standoff over revenue-sharing between producers, distributors and multiplex owners may end before 12 June.
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Bharati Shipyard (up 10.01%)
Bharati Shipyard gained 10.01%. The firm has said it will make an open offer to acquire shares of Great Offshore, thus increasing its stake to 35%. The open offer is likely to be around Rs326 per share.
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Tata Steel (up 8.38%)
Tata Steel gained 8.38% on reports banks have agreed to relax lending conditions on some of Corus debt. Banks agreed to reset covenants of £3.7 billion of debt used by Tata Steel in its £6.2 billion Corus takeover.
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Voltas (up 20.12%)
The stock was up 20.12%. The firm’s net sales for FY09 were up 35% and profit after tax increased 21%. The firm told CNBC-TV18 that the second half of FY10 should see a pickup in the engineering segment.
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Matrix Labs (up 6.96%)
The Matrix Laboratories Ltd stock gained 6.96% as Mylan Laboratories Inc. accepted the exit price of Rs211 per share for Matrix. Mylan will have at least 90% stake in Matrix and will delist the company.
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Cairn India (up 12.40%)
Stock was up 12.40%. Goldman Sachs has renewed its buy rating for the Cairn India, with an increased target price of Rs290 per share. The firm’s Rajasthan oilfield is ready to start oil production.
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KRBL (up 20%)
Stock gained 20% on reports that basmati rice prices have gained 10-15% in the last week on increased export demand. Also, the industry expects the export ban on non-basmati rice will be lifted next month.
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First Published: Tue, Jun 02 2009. 12 19 AM IST
More Topics: CNBC-TV18 | Sensex | Markets | Suzlon | Martifer |