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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Tue, Feb 02 2010. 09 19 PM IST
Updated: Tue, Feb 02 2010. 09 19 PM IST
NTPC (2.51% down)
Shares of NTPC Ltd fell to Rs206 on Tuesday after the empowered group of ministers fixed the base price at Rs201 for its follow-on-public offer, which opens on Wednesday. The government holds 89.5% in the nation’s largest power generation company and plans to dilute a 5% stake.
Uttam Galva (20.01% up)
Shares of Uttam Galva Steels Ltd surged to Rs127 after ArcelorMittal acquired a 29% stake in the maker of cold rolled and galvanized steel for Rs422 crore through an open offer, taking its holding in the domestic firm to 34%. ArcelorMittal has bought 35.2 million shares at Rs120 apiece.
Bajaj Auto (1.65% down)
Shares of Bajaj Auto Ltd closed down even after the company reported higher sales of 266,000 units in January, against 132,000 units in the same period last year. Analysts said that the numbers are strong due to pushing ahead of purchases prior to a potential excise duty hike in the Budget.
Reliance Media (up 10.6%)
Shares of Reliance Media World Ltd rose. The stock has been abuzz ever since the firm told CNBC-TV18 that it should break even in FY11. The company, which operates the radio channel BIG 92.7 FM, said 38 out of its 45 stations are now stand-alone Ebitda (earnings before interest, taxes, depreciation and amortization) positive.
UCO Bank (down 2.87%)
Shares of UCO Bank Ltd fell on Tuesday after the management told CNBC-TV18 that the state-run bank will raise money through a follow-on public (FPO) and not through qualified institutional placements. The lender will come out with an FPO of 60 million shares by March-end and will offer discount to retail investors.
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First Published: Tue, Feb 02 2010. 09 19 PM IST
More Topics: CNB TV-18 | Sensex | Markets | Stocks | BSE |