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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Mon, Jun 29 2009. 11 21 PM IST
Updated: Mon, Jun 29 2009. 11 21 PM IST
Suzlon (5.18% down)
The Suzlon Energy Ltd stock ended down 5.2% on poor results and lack of any update on the Hansen stake sale. March quarter consolidated net profit was at Rs314.89 crore compared with Rs464.82 crore a year ago. On a stand-alone basis, Suzlon reported a Q4 net loss of Rs183 crore.
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GMR Infra (13.5% up)
GMR Infrastructure Ltd shares gained 13.5% on expectation of revival of a qualified institutional placement (QIP), which opened later in the day. GMR had put on hold its QIP plans because the stock price had gone up from the two-week average price.
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Tata Motors (7.74% down)
The shares of Tata Motors declined 7.7% after a spate of downgrades by brokerages following disappointing results. Most brokerages raised concerns on possible equity dilution and a high debt-equity ratio. India Infoline expects the firm’s adjusted debt-equity ratio to reach 10.
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Force Motors (20% up)
The Force Motors Ltd share gained 20% on the Bombay Stock Exchange. The firm reported its FY09 consolidated net sales at Rs889.4 crore compared with Rs1,009.1 crore a year ago. It reported a net loss of Rs73 lakh, against Rs179 crore in the year-ago period.
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Sobha Developers (5.02% up)
The shares of Sobha Developers Ltd gained 5% on talk that the firm’s stalled qualified institutional placement will be opening on Monday for raising around $105 million. The floor price of the issue is around Rs209. The stock ended at Rs215.40 on the National Stock Exchange.
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Gujarat NRE Coke (4.42% down)
The Gujarat NRE Coke Ltd stock declined 4.4% on the back of poor results. Net sales for the March quarter was down 44% at Rs214.6 crore, against Rs380.4 crore in the year-ago period. It reported a net loss of Rs103.2 crore for the period, against Rs64.2 crore profit a year ago.
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First Published: Mon, Jun 29 2009. 11 21 PM IST
More Topics: CNBC-TV18 | Sensex | Shares | Markets | Suzlon |