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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Fri, Jul 17 2009. 11 03 PM IST
Updated: Fri, Jul 17 2009. 11 03 PM IST
NMDC (8.76% up)
The NMDC Ltd stock was up 8.76% on the National Stock Exchange on Friday after the government announced that it would divest 5-10% stake in the country’s largest iron ore producer. The government said it will sell stake in four state-run firms, including NMDC.
Sasken (12.23% up)
Shares of Sasken Communication Technologies Ltd gained 12.23% before the firm announced its quarterly results to end at Rs139.90 on the National Stock Exchange. The stock was up at least 30% last week. The company’s net profit stood at Rs13.71 crore in the quarter ended June.
Max India (8.72% up)
Shares of Max India Ltd stock rose 8.72% to close at Rs213.25 on the National Stock Exchange (NSE) on Friday after at least 5% equity changed hands on the Bombay Stock Exchange and NSE at Rs197 per share. In the fourth quarter ended March, the firm had posted a net loss of Rs6.76 crore.
Reliance Infra (8.7% up)
Shares of Reliance Infrastructure Ltd gained 8.69% to end at Rs1,152 .60 on the National Stock Exchange on Friday after the company emerged as the lowest bidder for the National Highways Authority of India’s 52km Jaipur-Reengus road project.
Exide (11.51% up)
The Exide Industries stock surged 11.51% on the back of strong results. In the June quarter, the firm’s stand-alone net sales was at Rs903 crore, against Rs906.5 crore in the year-ago period. The company’s net profit rose to Rs122.4 crore compared with Rs82.2 crore a year ago.
Mahindra Holidays (9.7% up)
Shares of Mahindra Holidays and Resorts India Ltd were up 9.7% on Friday after listing on Thursday at Rs330 compared with the issue price of Rs300 per share. The company has said it plans to utilize the issue proceeds to fund its business expansion plans.
Hero Honda (6.66% up)
Shares of Hero Honda Motors Ltd were up 6.66% to close at Rs1640.30 on the National Stock Exchange on Friday after CNBC-TV18 reported that the two-wheeler company will launch a new version of Karizma by September. The new motorcycle will be launched to counter Bajaj Pulsar 220.
JK Tyre (11.76% up)
JK Tyre and Industries Ltd gained 11.76% on strong results. The company’s net sales in the June quarter stood at Rs900.7 crore, against Rs849 crore in the year-ago period. The firm reported an operating profit of Rs106.6 crore compared with Rs74.9 crore a year ago.
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First Published: Fri, Jul 17 2009. 11 03 PM IST
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