BackSensex lifeline: high beeps and pratfalls
Sensex lifeline: high beeps and pratfalls
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ABB (23.44% up)
Shares of ABB rose 23.44% after its Swedish parent announced that it would hike stake in the Indian firm to 75% from the existing 52%. ABB announced a voluntary open offer at Rs900 per share. The open offer will open on 8 July and close on 27 July.
Balrampur Chini (4.33% up)
The Balrampur Chini Mills scrip gained 4.33% after the management confirmed that import duty on white sugar was likely. Managing director Vivek Saraogi said the current realization stands at Rs29.25 per kg and the company will incur a loss at a realization of Rs28 per kg.
L&T (4.97% up)
Shares of Larsen and Toubro (L&T) gained 4.97% after strong fourth quarter results. Net profit stood at Rs1,438 crore in the quarter ended 31 March, up 44% from the year-ago period. Investors will be paid a dividend of Rs12.5 per share, the company said in a statement.
Seamec (7.4% down)
The Seamec stock declined 7.4% on disappointing fourth quarter results. The company reported a net loss of Rs28.7 crore in the quarter ended 31 March against a net profit of Rs61.9 crore in the year-ago period. Revenue was down 59% to Rs40.35 crore.
Godrej Properties (1% up)
Shares of Godrej Properties gained 1%. It said net profit jumped threefold to Rs56.46 crore in the ended 31 March. The firm will also launch new projects across four cities in FY11, totalling 15 million sq. ft, taking its presence to 10 cities across the country, top officials said on Monday.
Whirlpool (20% up)
The Whirlpool of India scrip rose 20% after the firm reported strong Q4 results. Net profit stood at Rs57.7crore in the quarter ended 31 March against Rs17.3 crore in the year ago period. Sales stood at Rs577.54 crore during the quarter against Rs374.66 crore in year-ago period.
Patni Computer
Shares of Patni Computer Systems ended flat after news that the Patni brothers are likely to sign an agreement to sell stake this week. Bids for the sale are likely to open next month according to people close to the matter and the promoters are seeking a sale price of Rs650 per share.
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