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Movers & Shakers

Movers & Shakers
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First Published: Mon, May 11 2009. 10 21 PM IST
Updated: Mon, May 11 2009. 10 21 PM IST
Tata Steel (4.16% down)
Tata Steel declined on the deferment of safeguard duty on steel. Steel secretary indicated that no convincing case was made by the manufacturers on additional import duty. The steel ministry had proposed a 20% safeguard duty while the manufacturers had demanded 25%
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SBI (5.01% down)
The State Bank of India stock lost around 5%. Brokerage CLSA maintains a underperformer rating for the stock as the lender’s margin contracted sharply quarter-on-quarter. The country’s largest lender’s fourth quarter net profit increased 45.59% on the back of non-interest income.
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Ashok Leyland (4.99% down)
Shares of Ashok Leyland Ltd ended down 4.99% as the auto maker’s sales declined around 70% in April compared with the year-ago period. It sold 1,750 units in April compared with 5,705 units a year ago. The firm’s exports declined 13.4% and commercial vehicles sales by 72%.
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Essel Propack (19.74% up)
Shares of packaging company Essel Propack Ltd gained 19.74% on reports that the company is set to acquire a controlling stake in UK tube maker Betts. However, Essel Propack said the news was speculative. The stock closed at Rs18.50 on the National Stock Exchange.
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Gujarat NRE Coke (4.5% up)
Shares of Gujarat NRE Coke gained 4.5% as Gujarat NRE Minerals, an Australian subsidiary of the firm, successfully secured a $50 million long-term loan facility. The facility is sanctioned by a consortium of banks in Singapore, London, Hong Kong and Antwerp, led by Axis Bank Ltd.
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Camlin (20.18% up)
The Camlin Ltd stock gained 20.18% as the company reported March quarter net profit at Rs2.6 crore compared with a net loss of Rs1 crore a year ago. The company also reported an increase in sales in the fourth quarter at Rs75.2 crore against Rs59.7 crore in the year-ago period.
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Madhucon Projects (6.64% up)
Shares of Madhucon Projects Ltd gained 6.64% after the firm was awarded a Rs300 crore highway project by the National Highways Authority of India. Madhucon has orders worth at least Rs5,300 crore as on 31 March. It has pre-qualified for projects worth at least Rs10,000 crore.
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Alembic (6.76% down)
Shares of Alembic declined 6.76%. The drug maker had reported a net loss of Rs1.47 crore in the March quarter, compared with a profit of Rs15.34 crore a year ago. Alembic has missed its FY09 profit-after-tax guidance for the second time in a row.
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First Published: Mon, May 11 2009. 10 21 PM IST
More Topics: CNBC-TV18 | Gainers | Losers | Alembic | Tata Steel |