Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
Comment E-mail Print Share
First Published: Fri, Aug 14 2009. 10 23 PM IST
Updated: Fri, Aug 14 2009. 10 23 PM IST
ONGC (4.5% up)
Shares of Oil and Natural Gas Corp. Ltd (ONGC) rose 4.5% on the National Stock Exchange on reports that the government will issue oil bonds for under-recoveries on LPG and kerosene to the downstream oil companies and gas price will be increased to Rs4 per cu. m from Rs3.2 per cu. m.
Jet Airways (8.1% up)
Shares of Jet Airways Ltd jumped 8.14% after the Directorate General of Civil Aviation announced that the airline’s share in the country’s aviation market climbed to 26.3%. The company’s market share had earlier declined to 20% from 30% following a cut in domestic capacity.
IGL (12.4% up)
Indraprastha Gas Ltd (IGL) shares were up 12.44% after the company signed a gas supply purchase agreement with Reliance Industries Ltd for KG Basin gas. Also, the Delhi high court restrained the oil marketing regulator from issuing any licence for launching piped gas supplies.
Man Industries (9.7% up)
The Man Industries Ltd stock was up 9.75% on the National Stock Exchange on Friday after the firm won a Rs750 crore order, which includes an order worth Rs200 crore from Gail (India) and Rs550 crore from the West Asian and African continent for supply of LSAW pipes.
Balrampur Chini (5.4% down)
Shares of Balrampur Chini Mills Ltd declined 5.42% to close at Rs119.7 on the National Stock Exchange on Friday as sugar prices came off its highs on speculation that the Indian government may take steps to monitor sugar prices and increase imports.
Oil Country Tubular (16.9% up)
Shares of Oil Country Tubular Ltd were up 16.97% on Friday. Investment analyst Ashish Chugh recommended the scrip on CNBC-TV18 on reports that the company, which caters to oil drilling and exploration sector and manufactures drill pipes, etc., has repaid all its loans.
Maharashtra Scooter (5% up)
Maharashtra Scooter Ltd shares were up 5% after CNBC-TV18 reported that its investment net of debt compared with market cap was over four times. The firm’s market cap is around Rs165 crore and the investments net of debt is at around Rs676 crore. The company holds 33.87 lakh shares in Bajaj Auto and Bajaj Finserve.
McDowell Holdings (5% up)
Shares of McDowell Holdings Ltd rose 5% after CNBC-TV18 reported that investment net of debt compared with market cap was over four times. The firm’s market cap is around Rs90 crore, investment net of debt is around Rs280 crore. The firm holds 96.3 lakh shares in United Breweries (UB) Ltd and 52.6 lakh shares in UB (Holdings) Ltd.
Comment E-mail Print Share
First Published: Fri, Aug 14 2009. 10 23 PM IST
More Topics: CNBC-TV18 | Sensex | Markets | Shares | BSE |