Satyam (10.05% up)
Stock hit the 10.05% upper circuit after the company released its January and February numbers. The February revenue stood at Rs688 crore, Ebit (earnings before interest and taxes) margin at 6.5%, and monthly net income came at Rs52 crore. The market is expecting a revision in open offer price.
Tech Mahindra (25.61% up)
Stock surged 25.61% after Satyam’s number were released. Analysts expect positive impact on the company’s financial. Several brokerages are now recommending the stock, with the expectations that that the EPS (earnings per share) could be Rs75-76 post-Satyam numbers.
L&T (6.25% up)
Larsen and Toubro Ltd shares gained 6.25% on Tuesday on investor expectations of lower MTM (mark-to-market) losses on account of its investment in Satyam Computer Services Ltd. L&T owns 8.3% equity, or 81 million shares, at an average price of Rs80 per share in Satyam.
Voltas (12.85% up)
Voltas Ltd up 12.85%: Bank of America Merrill Lynch initiates coverage with buy and price objective of Rs185/share based on 16xFY11E. Triggers include stable new govt, 20% rise in oil prices and expected EPS growth of 22% in FY10E and 38% in FY11E.
BPCL (3.23% down)
Shares of state-run Bharat Petroleum Corp. Ltd (BPCL) lost 3.23% on Tuesday after reports suggested that the Union government may postpone the issue of freeing up fuel prices as crude oil prices for domestic consumption have crossed $65/bbl.
Oswal Chemicals (10.02% up)
Oswal Chemicals and Fertilizers Ltd hit the 10.02% upper circuit on Tuesday after investment guru S.P. Tulsian told CNBC-TV18 that the stock can hit 30-35 in the next six months or so. The company is sitting on a cash pile of Rs2,200 crore with no debt in the books.
Omaxe (8.82% up)
Omaxe Ltd gained 8.82% after the firm’s told CNBC-TV18 of plans to raise at least Rs1,000 crore by July, which will lead to stake dilution of around 20%. The firm is looking at a 30% premium to the current market price for a QIP issue. Half the funds will be used to retire debt and the rest for construction projects.
Surana Telecom (20.04% up)
Surana Telecom Ltd gained 20.04% after the company said it has entered into solar equipment production. The company says it began solar equipment production in Germany last week and got all the required approvals which qualify its products for sale in Europe.