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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Sat, Sep 05 2009. 12 30 AM IST
Updated: Sat, Sep 05 2009. 12 30 AM IST
Astra Micro (19.31% up)
Shares of Astra Microwave Products Ltd soared 19.31% on the back of huge volumes. There were around five-six block deals during the day. The promoter holding in the company remains low, at around 20%. Mauritius-based Strategic Venture Fund holds a 15% stake in the firm.
Peninsula Land (11.86% up)
Shares of Peninsula Land Ltd rose 11.86% after the Reserve Bank of India notified that Peninsula Land has agreed to enhance the limit for purchase of its equity shares and convertible debentures by foreign institutional investors to up to 40% of its total paid up capital.
Amtek Auto (14.32% up)
Shares of Amtek Auto jumped 14.32% to Rs182.05 on the National Stock Exchange on Friday to its highest level in almost a year after the firm said it will raise $175 million through foreign currency convertible bonds which would be listed on the Singapore Stock Exchange.
Radico Khaitan (8.29% up)
Shares of Radico Khaitan gained 8.29% on the National Stock Exchange. The stock has been in the news ever since Diageo’s talks to buy a minority stake in United Spirits Ltd broke down as the companies failed to agree on the valuation. Diageo already has a joint venture in the country with Radico Khaitan.
IFCI (11.29% up)
Shares of IFCI Ltd rose 11.29% due to a huge build-up in futures and options segment. IFCI stock future added 1.8 crore shares or 25% in open interest. The stock has been in the news after offloading nearly 4% of Tata Motor differential voting rights in a few trading sessions through the bulk deal route.
Shree Renuka (3.17% down)
Shares of Shree Renuka Sugars Ltd were down 3.17% after the government announced that the maximum holding period of refined (or imported) sugar will be reduced from three months to one month. Sugar stocks continue to remain subdued in spite of positive news for the sector.
SAIL (2.62% up)
Shares of Steel Authority of India Ltd (SAIL) gained 2.62% after domestic sales in August rose 20% to 1.1 million from a year ago on the back of a 30% jump in sales of special steel. The company has raised prices on flat products by Rs1,500 a tonne beginning September.
Maytas Infra (5.02% up)
Shares of Maytas Infra Ltd gained 5.02% on the National Stock Exchange on Friday. The stock has been in the news ever since Infrastructure Leasing and Financial Services Ltd offered to buy Maytas Infra shares at Rs112.8 each. The offer will start on 24 October and end on 12 November.
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First Published: Sat, Sep 05 2009. 12 30 AM IST
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