Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Fri, Jun 19 2009. 12 25 AM IST
Updated: Fri, Jun 19 2009. 12 25 AM IST
Aban Offshore (10.09% down)
The Aban Offshore Ltd stock was down 10.09% on the National Stock Exchange on Thursday. The stock has been under pressure following the news of cancellation of Aban Abraham’s contract with Addax and Sinopec on grounds of repeated delays pertaining to drill ships.
HDIL (9.43% down)
Housing Development and Infrastructure Ltd (HDIL) was down 9.43% on speculation that the company may lower the price for its proposed QIP. However, managing director Sarang Wadhawan said: “I have met a few investors who have shown interest. We expect the issue to pass without any hitch.”
JSW Steel (10.07% down)
The JSW Steel Ltd stock was down 10.07% to close at Rs569.00 on Thursday on reports that the promoters are looking to dilute 10% stake and raise $300 million. The company , however, denied the reports, which it termed as absolutely “false, baseless and misleading”.
Suzlon (10.83% down)
Suzlon Energy Ltd fell 10.83% on poor earning outlook. Sulzlon’s chairman and managing director Tulsi Tanti said: “We are expecting a flat year ahead. We are not going to witness 30% that we saw last year. We have order book for close to 1,900 MW at the moment.”
Unitech (9.40% down)
Shares of Unitech Ltd were down 9.40% to close at Rs76.10 on Thursday on the National Stock Exchange after CNBC-TV18 reported that Unitech is contemplating second QIP (qualified institutional placements) issue of $250-300 million which could lead to a 10% dilution.
Ambuja Cements (7.79% down)
Shares of Ambuja Cements Ltd fell 7.79% to close at Rs89.35 on Thursday on the National Stock Exchange following reports that put its advance tax numbers at only Rs70 crore in the first quarter, against an estimated Rs100 crore, which indicates that the firm has been hit by a demand slowdown.
Sobha Developers (0.56% up)
The Sobha Developers Ltd stock gained 0.56% to close at Rs224.40 on Thursday. The company plans to raise Rs700 from the sale of 30 million shares through the QIP route. The QIP issue opened on Thursday. The promoter stake in the firm is set to come down to 61% from 87%.
Dish TV (2.44% up)
Dish TV India Ltd was up 2.44% on the National Stock Exchange on Thursday. Its earnings before interest, depreciation, taxes and amortisation (Ebidta) turned positive for the first time. The firm said its debt will come down this quarter due to its rights issue tranche being fully subscribed.
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First Published: Fri, Jun 19 2009. 12 25 AM IST
More Topics: CNBC-TV18 | Sensex | Shares | Stocks | BSE |