BackSensex lifeline: high beeps and pratfalls
Sensex lifeline: high beeps and pratfalls
PremiumGraphic: Paras Jain / Mint
ARSS Infra (63.88% up)
ARSS Infrastructure Projects surged 63.88% at Rs738 on the first day of listing against the issue price of Rs450 per share. The company had raised Rs103 crore through an initial public offering, which was oversubscribed 47 times. The firm expects 2009-10 sales at around Rs1,050 crore and profit-after tax at Rs100 crore.
Nectar Lifesciences (8.61% up)
Nectar Lifesciences gained 8.61% at Rs40.1 after New Silk Route Partners bought little over 30% stake in the company for Rs250 crore at Rs35 per share. The deal was structured through a combination of global depository receipts and fresh shares to avoid triggering an open offer.
Tricom India (19.78% up)
The Tricom India stock gained 19.78% to close at Rs16.3 after the company said that they are in the last stages of winning multi-year contracts in its title insurance and health insurance verticals. It revenue from these contracts is likely to be in the range of $8-10 million (Rs37-46 crore) over the next three-five years.
Goa Carbon (9.77% up)
Goa Carbon gained 9.77% on reports that the company may sign one-year contract to sell coke to Rio Tinto Plc. The Goa Carbon management told CNBC-TV18 that Rio Tinto sources nearly 40,000-50,000 tonnes of coke from the firm, which is 30-35% of its capacity.
SpiceJet (5.2% up)
Shares of SpiceJet gained 5.2% after the low-fare airline said that it will raise ticket prices after the service tax hike in the Budget. The airline is likely to break even by the end of the current fiscal. It will induct nine aircraft by 2012. They are seeking approval for starting international operations.
Srei Infrastructure (6.78% up)
The shares of Srei Infrastructure Finance , a non-banking finance company, gained 6.78% after the management told CNBC-TV18 that the company would wait for the Reserve bank of India’s guidelines on new banking licence. The firm said it is open for applying if it matches with its criteria.
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