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Movers & Shakers

Movers & Shakers
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First Published: Tue, May 26 2009. 10 47 PM IST
Updated: Tue, May 26 2009. 10 47 PM IST
Ranbaxy (down 8.43%)
The Ranbaxy Laboratories stock fell 8.43%. Brokerages maintain sell rating for the stock even after management’s conference call on Monday. India Infoline maintains sell rating for shares of Ranbaxy, with a target price at Rs104 per share. Kotak has reduced the target to Rs150 per share for the stock.
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Redington (up 1.77%)
Shares of Redington (India) Ltd gained 1.77%, after reaching a high of 8% during the day. Brokerage firm India Infoline has given an add rating and a 12-month target price of Rs261. The brokerage believes the firm’s earnings may register a compounded annual growth rate of 16% over FY10-FY12.
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Bharti Airtel (down 4.83%)
Shares of Bharti Airtel Ltd closed down 4.83% on EPS (earning per share) dilution concerns by various brokerages. ABN Amro says the impact on the company’s medium-term earnings will hurt valuations. It estimates that the telecom firm may need to raise an additional debt of around $3 billion.
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S Kumars (up 1.33%)
The S Kumars Nationwide Ltd (SKNL) stock gained 1.33% to close at Rs38.10 on the National Stock Exchange. The firm is in race to acquire bankrupt US suit maker Hartmarx Corp. for $119 million. Hartmarx said it has entered into an asset-purchase agreement with Emerisque Brands UK and an SKNL arm.
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HDIL (down 10.05%)
The Housing Development and Infrastructure Ltd (HDIL) stock declined 10.06% on Tuesday. Citi has rated HDIL as sell (high risk) with a target price of Rs91, due to concentration risk in Mumbai suburbs, tight liquidity crunch and likely execution delays in the airport project, resulting in penalties.
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Karnataka Bank (down 6.8%)
The Karnataka Bank stock ended down 6.8% on Tuesday, after it reported poor results and the lender’s board sought shareholders’ nod to raise up to Rs500 crore through a qualified institutional placement issue. The bank’s fourth quarter net profit increased 36.79%, from Rs60.78 crore to Rs83.14 crore.
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Dishman Pharma (up 20.02%)
Shares of Dishman Pharmaceuticals and Chemicals Ltd gained 20.02% as it posted a 32% increase in its 2008-09 net sales at Rs1,062.36 crore, against Rs803.07crore a year ago. IDFC-SSKI maintains an outperformer rating on the stock, with a price target of Rs219.
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Opto Circuits (down 8.12%)
Shares of Opto Circuits (India) Ltd fell 8.12% on Tuesday, on concerns that the firm may not be able to raise adequate money in a tight market. The firm’s board is meeting on 3 June to consider raising funds. The shares of the firm closed at Rs151.60 on the National Stock Exchange.
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First Published: Tue, May 26 2009. 10 47 PM IST
More Topics: CNBC-TV18 | Gainers | Losers | Markets | Ranbaxy |