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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Thu, Feb 18 2010. 11 41 PM IST
Updated: Thu, Feb 18 2010. 11 41 PM IST
Coromandel Fert (Up 4.2%)
Shares of Coromandel Fertilisers Ltd gained 4.16% on Thursday after the government approved a 10% hike in prices of urea and the cabinet gave its nod for decontrol of other fertilizer prices. Shares of Nagarjuna Fertilizers and Chemicals Ltd gained 3.30%, while that of Chambal Fertilizers and Chemicals Ltd rose 2.66%.
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RIL (Down 3.4%)
Shares of Reliance Industries Ltd (RIL) declined 3.4% on reports that the company may increase its bid to buy bankrupt chemicals and fuels-maker LyondellBasell Industries AF from $13.5 billion to at least $15 billion. LyondellBasell said it has settled a dispute with creditors that paved the way for an exit from bankruptcy.
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BPCL (Up 4.8%)
Shares of Bharat Petroleum Corp. Ltd (BPCL) rose 4.79% after it said that a consortium, in which its subsidiary holds a 10% stake, discovered gas at an offshore site in Mozambique. BPCL said, “The exploration well, Windjammer, which is currently being drilled, has reached an intermediate casing point...”
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Bombay Dyeing (Up 4.9%)
Shares of Bombay Dyeing and Manufacturing Co. Ltd gained 4.88% after its board decided to issue nearly four million warrants to the promoter, which will increase the promoter’s stake from 47% to 52%, in the next two years.
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Bajaj Hindusthan (Down 5.3%)
Shares of Bajaj Hindusthan Ltd declined 5.28% on Thursday after sugar prices dipped to an eight-week low. Raw sugar futures May contracts fell by 4.5% on the Intercontinental Exchange on Wednesday. Shares of Shree Renuka Sugars Ltd declined 4.51%, while that of Balrampur Chini Mills Ltd was down 4.22%.
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Indiabulls (Down 5.5%)
Shares of Indiabulls Real Estate Ltd declined 5.5% on Thursday after the Reserve Bank of India disallowed restructuring of loans for real estate companies. Shares of Unitech Ltd, too, were down 4.7%. JPMorgan says the indirect impact on the industry should be near-term negative but long-term positive.
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Nilkamal (Up 8.3%)
Shares of Nilkamal Ltd surged 8.27% on news of the company’s plans to raise up to Rs100 crore through qualified institutional placement (QIP) of shares for its expansion programme. The funds raised from the QIP will be used to open a new plant in Chennai. The promoter holding in the firm stands at 71.25%.
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Fame India ( Up 5%)
Shares of Fame India Ltd rose 5.03%. Reliance Capital Partners bought another 10 lakh shares (2.8% equity) in the firm at Rs75.6 per share. With this, Reliance Capital Partners has hiked its stake in the firm to 10.54%.
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First Published: Thu, Feb 18 2010. 11 41 PM IST
More Topics: CNBC-TV18 | Sensex | BSE | Coromandel Fort | RIL |