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Movers & Shakers

Movers & Shakers
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First Published: Fri, Apr 24 2009. 11 59 PM IST
Updated: Fri, Apr 24 2009. 11 59 PM IST
Adani Enterprise (15% up)
Adani Enterprise ends up 15% as Adani Power refiled a DRHP with Sebi for raising Rs2,200 crore; Adani Enterprises will hold 70.25% stake post-IPO in Adani Power, other investors include UK-based private equity firm 3i group who will hold 6.95% equity post-IPO.
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Pyramid Saimira (5% down)
Pyramid Saimira Theatre Ltd ends 5% down as the Securities and Exchange Board of India bars company CEO P.S. Saminathan from capital market transactions. Other people barred include Nirmal Kotecha, Rakesh Sharma, Rajesh Unnikrishnan.
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Reliance Infra (3.7% up)
Reliance Infrastructure Ltd ends up 3.7%. The company refused to comment on merger with Reliance Power Ltd and sees 50-60% growth in turnover in the engineering, procurement and construction business over the next two-three years and will be able to achieve financial closure for most projects.
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Punj Lloyd (5.5% up)
Punj Lloyd Ltd shares were up 5.5%. Fund buying emerged when stock fell on the back of SABIC setback as analysts believe that negative news priced in. The market was concerned as the firm had not provided Rs200 crore for the bank and performance guarantees encashed by SABIC.
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LIC Housing (8.1% up)
LIC Housing Finance Ltd shares were up 8.1%. The stock buzzed after the company reported core profit before tax of Rs218 crore, up 30% yeay-on-year. Kotak raised estimates by 16% for fiscal year 2010 and fiscal year 2011 and revised their target price to Rs390 from Rs330 earlier.
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Navneet (12% up)
Navneet Publications Ltd stocks were up 12%. The board estimates fiscal year 2009 turnover to be above Rs500 crore, which means fourth quarter net sales are estimated to be around Rs100 crore compared to Rs61 crore year-on-year and net profit at around Rs10 crore.
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Spanco (6.5% up)
Spanco Telesystems and Solutions Ltd was up 6.5%. The firm has decided to raise funds up to Rs35 crore by issuing 10 million equity shares at Rs35/share on preferential basis to promoters, foreign venture capital investors and foreign institutional investors.
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Amtek Auto (5.8% down)
Amtek Auto Ltd was down 5.8% after company informed the exchanges that talks of buying stake in OCL Iron and Steel Ltd have not yet been finalized. However, the company keeps on looking at viable opportunities which suits best to its inorganic growth.
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First Published: Fri, Apr 24 2009. 11 59 PM IST