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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Tue, Dec 01 2009. 11 13 PM IST
Updated: Tue, Dec 01 2009. 11 13 PM IST
Hero Honda (0.3% up)
The shares of Hero Honda Motors were up 0.3% after reporting highest-ever monthly sales in November. The two-wheeler manufacturer said sales were at 380,000 units in November against 289,000 a year ago. The firm had sold 354,000 two-wheelers in October.
Zydus Wellness (20% up)
Zydus Wellness gained 20% on reports that its new manufacturing facility in Sikkim will reduce the firm’s tax burden. The firm owns Nutralite (table margarine), Sugar Free (low-calorie sweetener) and EverYuth (a range of specialty skin care products) brands.
Areva T&D (2.5% up)
Areva T&D India gained 2.57% after the company’s French parent decided to enter into exclusive negotiations with Alstom-Schneider for sale of Areva T&D. The consortium has offered €4.1 billion, of which €2.9 billion is equity. Analysts expect an open offer in the listed firm.
Aban Offshore (4.95% up)
The shares of Aban Offshore gained 4.95% on a report that the firm is looking to list its Singapore arm. The company plans to raise $400 million through an initial public offering of the Singapore arm early next year. The money will be used for repayment of its debt, which exceeds Rs16,000 crore.
Omnitech (12.11% up)
Outsourcing firm Omnitech InfoSolutions gained 12.11% after the firm told CNBC-TV18 that it is looking at two overseas companies for an acquisition in the range of $15-20 million. Both the acquisition targets have positive Ebitda (earnings before interest, taxes, depreciation and amortization).
Geometric (10.01% up)
Geometric gained 10.01% on reports that the promoter, Godrej Group, has been increasing stake in the company by buying shares from the open market. The firm’s promoters bought 28,940 shares, or nearly 0.05%, on 28 November. As of September-end, the promoter group held 36.75% in the firm.
JP Hydro-Power (6.9% up)
The Jaiprakash Hydro-Power stock gained 6.9% as analysts expect its merger with Jaiprakash Power Ventures to take place this month. After the merger, the firm will become the largest private hydropower company in the country, with a market capitalization of $3.3 billion.
Peninsula Land (4.48% up)
The shares of Peninsula Land were up 4.48% after the firm received Rs160 crore from Alok Realtors as part-payment for sale of 641,000 sq. ft at Peninsula Business Park in Mumbai. Till now, the firm has received Rs625 crore, against the total deal amount of Rs1,100 crore.
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First Published: Tue, Dec 01 2009. 11 13 PM IST
More Topics: CNBC-TV18 | Markets | Sensex | Shares | Money Matters |