Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
Comment E-mail Print Share
First Published: Tue, Aug 18 2009. 11 07 PM IST
Updated: Tue, Aug 18 2009. 11 07 PM IST
United Spirits (3.3% Up)
Shares of United Spirits Ltd rose 3.3% after CNBC-TV18 reported the firm is in the final stages of preferential allotment of shares to private equity firms. United Spirits may raise $250-300 million (Rs1,218-1,461 crore) by diluting nearly 10% stake and the deal is likely to be finalized next week.
*********
Firstsource (9.9% Up)
Shares of Firstsource Solutions Ltd jumped 9.9% on Tuesday after chief executive officer Ananda Mukerji said the company is planning to list on the US market. The firm is watching the response to initial public offerings in the US. The company is also eyeing buys in the $10-15 million (Rs49-73 crore) range.
*********
Berger Paints (6.2% Up)
The Berger Paints (India) Ltd stock rose 6.2% on Tuesday after Nalanda India Fund picked up a 2.3% stake in the firm at Rs50.50 per share. The firm said that it will use the funds to set up a water-based plant in south India. Nalanda India Fund’s holding in the company has risen to 6%.
*********
Bharat Forge (8.2% Up)
Shares of Bharat Forge Ltd rose 8.2% after the board approved raising of up to $150 million (Rs730 crore). The firm said it would raise funds through sale of equity or equity-linked securities. This could lead to equity dilution of 10-12%. Funds will be used for growth in non-auto business.
*********
Kiri Dyes (2.76% Up)
The Kiri Dyes and Chemicals Ltd stock rose 2.76% on the National Stock Exchange on Tuesday after CNBC-TV18 reported the firm is finalizing an overseas acquisition worth nearly $100 million (around Rs490 crore). It is likely to make an announcement on the acquisition within a week.
*********
Apollo Tyres (2.1% Up)
Shares of Apollo Tyres Ltd were up 2.1% on the National Stock Exchange on reports that the company is planning to increase prices of tyres by 4-5%. Senior executives at the firm said the company will look at a marginal hike in prices of tyres since natural rubber prices were expected to rise above Rs98 per kg.
*********
Numeric Power (20% Up)
Shares of Numeric Power Systems Ltd soared 20% on the National Stock Exchange on Tuesday, on news that the company is considering a bonus issue. This will be first bonus issue since the firm’s listing. The company has been paying dividends at the rate of 20-50% for the past seven years.
*********
IFCI (7% Up)
Shares of IFCI Ltd rose 7% on the National Stock Exchange on Tuesday. Its subsidiary IFCI Infrastructure Development Ltd is developing service apartments and is scheduled to complete work by end-March. The firm is looking to develop housing projects in the National Capital Region.
Comment E-mail Print Share
First Published: Tue, Aug 18 2009. 11 07 PM IST
More Topics: CNBC-TV18 | Sensex | BSE | Markets | United Spirits |