Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Mon, Oct 12 2009. 11 31 PM IST
Updated: Mon, Oct 12 2009. 11 31 PM IST
RCom (0.5% down)
The shares of Reliance Communications (RCom) closed 0.5% lower after CNBC-TV18 disclosed that an audit report said the the company’s revenues reported to the telecom regulator were significantly lower than those in filings with stock exchanges.
RNRL (5.4% up)
Anil Ambani firm Reliance Natural Resources Ltd (RNRL) was up 5.4% after he reached out to estranged brother, Reliance Industries Ltd (RIL) chairman Mukesh. If the feud over the price of gas from RIL is settled, it could mean billions of dollars in savings for RNRL.
Srei Infra (9.5% up)
The Srei Infrastructure Finance stock ended up 9.5% after Kotak Mahindra increased the share’s target price to Rs115 from Rs90. Kotak believes that infrastructure and equipment finance business will gain traction in the second half of the current fiscal.
Lanco Infratech (9.7% up)
Lanco Infratech shares gained 9.7% as analysts expect the firm’s net income to double this quarter as it will report earnings from operational 500MW power plants and engineering, procurement and construction (EPC) revenues from projects such as Kondapalli-II and Amarkantak-II.
M&M Fin (12.7% Up)
Shares of Mahindra and Mahindra (M&M) Financial Services were up 12.7% on reports that disbursements are expected to grow at a compounded annual growth rate of 20% over FY09-FY11E, driven by a revival in the auto segment. The management expects to maintain spreads of 11%.
TTK Prestige (14.9% up)
The TTK Prestige stock gained 14.9% on the back of strong second quarter results. The September quarter net sales were at Rs139 crore against Rs113 crore a year ago and operating profit grew to Rs21.6 crore compared with Rs15 crore a year ago. Its net profit stood at Rs16.8 crore against Rs7.2 crore a year ago.
Gammon Infra (2% Up)
Shares of Gammon Infrastructure Projects were up 2% after the firm bought 22.88 million shares of Vizag Seaport from a UK-based firm. Vizag Seaport, which owns two bulk cargo berths at the Visakhapatnam port, has now become a 73.76% subsidiary of Gammon Infrastructure.
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First Published: Mon, Oct 12 2009. 11 31 PM IST
More Topics: CNBC-TV18 | Sensex | Markets | Stocks | RCom |