Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Tue, Sep 08 2009. 11 57 PM IST
Updated: Tue, Sep 08 2009. 11 57 PM IST
Spice Comm (19.03% up)
The shares of Spice Communications closed up 19.03% after the Gujarat high court approved the scheme of amalgamation of Spice with Idea Cellular. Shareholders will get 49 shares of Idea for every 100 shares of Spice.
Gujarat NRE Coke (2.01% down)
The Gujarat NRE Coke share declined 2.01% on reports that the coking coal maker’s board will meet on 19 September to discuss issuing bonus shares with differential voting rights (lower rights than regular shares).
MindTree (3.17% up)
Shares of MindTree were up 3.17% after 3.89% equity changed hands on the Bombay stock Exchange at Rs540. Kotak Institution also raised target price for the stock to Rs650 from Rs500. The stock closed at Rs541.50.
Wall St Finance (4.47% up)
Wall Street Finance shares ended 4.47% higher on the Bombay Stock Exchange after B.K. Modi acquired a 51% stake in the firm. The Modi-controlled Spice Investment will make an open offer for a 20% stake in the firm at Rs55 per share.
ITI (2.42% up)
The ITI stock was up 2.42% on reports that the firm plans to bid for Mahanagar Telecom Nigam Ltd’s WiMAX franchisee deal. The public sector company recently won a Rs167 crore order from Bharat Sanchar Nigam Ltd.
NIIT (3.57% up)
Shares of NIIT gained 3.57% on reports that the company will take care of the infrastructure and administration of the entrance test to Indian Institutes of Management, which is being taken online for the first time.
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First Published: Tue, Sep 08 2009. 11 57 PM IST
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