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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Thu, Jan 14 2010. 11 25 PM IST
Updated: Thu, Jan 14 2010. 11 25 PM IST
RIL (3% up)
Shares of Mukesh Ambani-owned Reliance Industries Ltd (RIL) ended 3% up on expectations that the firm’s gross refining margins may improve. Enam Securities Pvt Ltd said the company is witnessing improvement in business fundamentals across all segments.
ONGC (3.05% up)
Shares of ONGC Ltd gained 3.05% after the company told CNBC-TV18 that a dynamic approach is needed to resolve the subsidy issue. Separately, the government on Thursday allowed ONGC Videsh Ltd (OVL) to spend $359 million (Rs1,651 crore) on oil exploration in two deep-sea blocks in Nigeria over the next five years.
Zenotech (4.87% up)
Shares of Zenotech Laboratories soared 4.87% ahead of a supreme court judgment on Daiichi Sankyo’s open offer to its shareholders. Daiichi had approached the court against an order of Securities Appellate Tribunal, which asked the firm to make an open offer to Zenotech shareholders at Rs160 per share.
Tata Metaliks (5.29% up)
Shares of Tata Metaliks Ltd rose 5.29% after the company reported a profit of Rs17.5 crore in the third quarter, against a loss of Rs203 crore in the year-ago period. Total income of the company rose to Rs292.77 crore for the third quarter ended December 2009, against Rs177.40 crore for the same period in the previous fiscal.
Sterling Biotech (9.80% up)
Shares of Sterling Biotech Ltd surged 9.80% on Thursday after the company said it has repurchased and cancelled foreign currency convertible bonds (FCCBs) worth $90 million (Rs409.5 crore). The company has said that the FCCBs were repurchased in accordance with a circular issued by the Reserve Bank of India .
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First Published: Thu, Jan 14 2010. 11 25 PM IST
More Topics: CNBC-TV18 | Sensex | Shares | Stocks | BSE |