BackSensex lifeline: high beeps and pratfalls
Sensex lifeline: high beeps and pratfalls
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Godrej (13.8% up)
Godrej Consumer Products Ltd ended up 13.8% after the company acquired the remaining 51% stake of Sara Lee Corp. for $234 million. The company’s management told CNBC-TV18 that the it may have to raise money through debt or equity to finance the acquisition.
Nitesh Estates (4.8% down)
The Nitesh Estates share ended down 4.8% at Rs51.40 on the first day of listing against the issue price of Rs54. The management told CNBC-TV18 that it expects FY11 sales of around Rs200 crore, FY12 seen around Rs425 crore. In FY11, the firm is expecting margins in the range of 15-17%.
Bajaj Hindusthan (3.5% up)
Shares of Bajaj Hindusthan Ltd gained 3.5% on hopes of a couple of policy announcements in the immediate future. There has been talks of a ban on imports of sugar, and price fixing of ethanol. There has also been talk of ethanol blending in petrol being raised from 5% to 10%.
Piramal Healthcare (4.2% up)
Piramal Healthcare Ltd surged 4.2% after the company told analysts during a press conference that its FY11 sale guidance is around 14-16% growth and that it expects margins to improve to 20% by FY11-end. The company has planned a capital expenditure of Rs350 crore.
Kingfisher (1.6% up)
Kingfisher Airlines Ltd closed 1.6% higher after CNBC-TV18 reported that the company was undertaking realignment and restructuring of debt worth Rs1,500 crore. SBI Capital Markets Ltd has been given the mandate to prepare the restructuring package .
Great Eastern (4.8% up)
Shares of Great Eastern Shipping Co. Ltd ended up 4.8% after the company filed a draft red herring prospectus with market regulator Securities and Exchange Board of India for the initial public offering of Greatship India. Greatship is a 100% subsidiary of Great Eastern Shipping.
Suashish Diamonds (16.1% up)
Shares of Suashish Diamonds Ltd ended up 16.1% on the last day of reverse book building. The reverse book building for voluntary delisting closed on Thursday with a minimum base price of Rs220. Nearly 50% of the reverse building book was tendered at around Rs320 per share.
Bajaj Auto (8.8% up)
Bajaj Auto Finance Ltd gained 8.8% after Antique Research initiated coverage on the firm with a target price at Rs632. Antique believes that the current valuations of 1.2 times FY11 book value do not factor strong financial performance and reducing non-performing assets.
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