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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Thu, Jul 16 2009. 11 14 PM IST
Updated: Thu, Jul 16 2009. 11 14 PM IST
Zee Entertainment (9.8% up)
Shares of Zee Entertainment Enterprises Ltd rose 9.8% on the National Stock Exchange on Thursday after it posted better than expected results on the back of aggressive cost cutting measures. The firm brought down staff costs by 44% year-on-year.
Sterlite Industries (6.25% down)
Shares of Sterlite Industries (India) Ltd declined 6.25% on Thursday after the company raised $1.65 billion (including $150 million from a greenshoe option) through a follow-on ADR (American Depository Reciepts) issue at $12.15 per ADS (Rs591.90 per share).
Mahindra Holidays (5.8% up)
Shares of Mahindra Holidays and Resorts India Ltd, owner of the Club Mahindra Holidays brand, gained 5.8% on the first day of listing compared with the offer price of Rs300 per share. The funds raised from the issue will be used to expand some resorts and develop five projects.
Adlabs Films (11.17% up)
Shares of Adlabs Films Ltd surged 11.17% on the National Stock Exchange on Thursday after Reliance - Anil Dhirubhai Ambani Group and Steven Spielberg entered a $825 million deal under which DreamWorks will make 5-6 films per year for global audiences.
Lanco Infratech (5.5% down)
Shares of Lanco Infratech Ltd were down 5.5% on Thursday after Maha Genco (Maharashtra State Power Generation Co. Ltd) cancelled the firm’s bid for the 1,600MW Dhopave power project due to unviable tariff. Lanco was the lowest bidder for the Dhopave power project.
Larsen & Toubro (3.6% down)
The Larsen and Toubro Ltd stock fell 3.6% on the National Stock Exchange on Thursday after declaring first quarter results. The firm reported a three-fold jump in its net profit at Rs1,598 crore, which includes exceptional gains of Rs1,020 crore on sale of its long-term investment in Ultra Tech Cement.
Opto Circuits (12% up)
Shares of Opto Circuits (India) Ltd soared 12% on Thursday, ahead of its first quarter results. Karvy expects the firm’s net sales to grow 26% and net profit to rise 21.6%. The board of Opto Circuits has approved raising of up to Rs400 crore through the qualified institutional placement route.
Bajaj Auto (5.2% up)
Shares of Bajaj Auto Ltd, India’s second biggest motorbike maker, rose 5.2% to close at Rs1,147.30 on the National Stock Exchange on Thursday on the back of good results. The company said it is hoping to boost profitability through higher sales and better exports.
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First Published: Thu, Jul 16 2009. 11 14 PM IST
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