Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Thu, May 27 2010. 09 08 PM IST
Updated: Thu, May 27 2010. 09 08 PM IST
Fortis Healthcare (7.34% up)
The Fortis Healthcare scrip gained 7.34% after Malaysia’s sovereign wealth fund Khazanah offered to raise its stake in Singapore healthcare firm Parkway Holdings to 51.5% for $835 million, potentially pitting it against Fortis in a battle for control over Parkway.
Gujarat NRE Coke (3.29% up)
Shares of Gujarat NRE Coke rose 3.29% after reports suggested that the Australian government may change the rate at which the proposed mining profit tax takes effect. The firm also said it has plans to increase mining capacity from 2.2 million tonnes (mt) to 6 mt in the next four years.
Emco (7.4% down)
The Emco stock was down 7.4% after a disappointing fourth quarter results. Net profit declined 67% to Rs7.76 crore in the three months to March from a year earlier, while sales remained flat at Rs376.4 crore. Ebitda margins were also under pressure, due to rising costs.
Kemrock Industries (6.2% up)
The Kemrock Industries and Exports stock rose 6.2% after it announced it was taking an 80% stake in Italy-based Top Glass SpA., one of the chief producers of pultruded composite profiles. The Kemrock scrip has outperformed the market in the past quarter, surging 42.21% compared with a flat Sensex.
Cinemax India (6.9% down)
Shares of Cinemax lost 10.7% after it reported a consolidated profit after tax of Rs4.4 crore in the fourth quarter. The management said the company was eyeing a profit of Rs25-27 crore for FY11.
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First Published: Thu, May 27 2010. 09 08 PM IST