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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Fri, Nov 20 2009. 01 15 AM IST
Updated: Fri, Nov 20 2009. 06 25 PM IST
Bharat Hindustan (7.4% down)
Shares of Bajaj Hindustan declined 7.4%. Other sugar stocks also fell after farmers protested low state-controlled sugarcane prices and forced an adjournment of the first day of Parliament’s winter session. Some 5,000 farmers from Uttar Pradesh took out a rally in New Delhi to demand higher state-set prices for sugarcane.
BPL (9.7% up)
Shares of BPL rose 9.7% after the firm said it is likely to dispose of its 600-acre land bank to retire debts. Vijay Simha, chief operating officer of the health management solutions group at BPL, told CNBC-TV18 the firm will move into joint development of products with Welch Allyn in the healthcare sector.
Andrew Yule (5.6% up)
Shares of Andrew Yule gained 5.6% after the firm said the Calcutta high court has approved the stake sale of Dishergarh Power Supply Co. Ltd (DPSC). The stake sale will happen through an auction on Friday. Andrew Yule holds 15%, while other financial institutions hold 42% stake in DPSC.
Mukand (2.9% up)
Shares of specialty steel company Mukand gained 2.9% after the firm said it’s looking to sell off its land bank for Rs600-700 crore over the next couple of years. Funds from the land sale will be used to retire debt, its chairman Rajesh Shah told CNBC-TV18. The firm, he said, is not looking to sell land in Karnataka.
Suzlon (2.5% up)
Shares of Suzlon gained 2.5% after the firm reported its subsidiary plans to sell about 35% equity interest in Hansen Transmissions for around €305 million. The firm will use the money to repay loan taken for acquisitions.
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First Published: Fri, Nov 20 2009. 01 15 AM IST
More Topics: CNBC-TV18 | Andrew Yule | Suzlon | BPL | Mukand |