Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
Comment E-mail Print Share
First Published: Mon, Jul 20 2009. 11 08 PM IST
Updated: Mon, Jul 20 2009. 11 08 PM IST
TCS (15.31% up)
The shares of Tata Consultancy Services (TCS) gained 15.31% on the back of strong first quarter results. The firm’s market capitalization has hit Rs1 trillion. Its operating profit was up 5.2% to Rs1,789.2 crore and net profit was up 15.7% to Rs1.520.3 crore.
Allahabad Bank (9.6% up)
The Allahabad Bank stock was up 9.6% following strong June quarter results. The bank’s net profit was at Rs302.86 crore in the quarter, against Rs93.36 crore a year ago. Its net interest income was at Rs629 crore in the March quarter compared with Rs468.5 crore in the year-ago period.
RIL (4.97% up)
The Reliance Industries Ltd stock ended up 4.97% after the government asked the Supreme Court to make it party to the KG basin gas dispute. The apex court will hear all parties on the next date and decide on the role of the government and third parties after the hearing on 1 September.
Kingfisher Airlines (8.64% up)
The shares of Kingfisher Airlines Ltd ended up 8.64% on reports that the firm is considering a rights issue and a follow-on public offer. The airline has a debt of approximately Rs8,000 crore, with equity capital of Rs265 crore. The stock closed at Rs50.95 on the National Stock Exchange on Monday.
Gujarat NRE Coke (16.41% up)
Shares of Gujarat NRE Coke increased 16.41% after the firm told CNBC-TV18 that it expects a huge shortage of coking coal in the second half of the current fiscal. The prices of coke have gone up by Rs4,000 per tonne in the June quarter. The firm has a production target of 1 million tonne by 2009-10.
JSW Steel (0.59% up)
The JSW Steel stock ended marginally up 0.59% on not-so-exciting results. The firm’s first quarter stand-alone net sales was at Rs3,894 crore compared with Rs3,671.5 crore a year ago. It reported a stand-alone net profit of Rs340 crore for the quarter, against Rs219 crore in the year-ago period.
Deccan Chronicle (16.1% up)
The shares of Deccan Chronicle Holdings increased 16.1% on reports that the firm is close to selling a 25% stake in its Indian Premier League cricket team, Deccan Chargers. The firm denied the stake sale in Deccan Chargers and said they won’t comment on any speculation.
Sterlite Tech (5.02% up)
The shares of Sterlite Technologies Ltd were up 5.02% after the firm announced its June quarter results. The company’s revenue for the quarter was up 7.9% to Rs436 crore, against Rs404 crore a year ago. Its profit after tax was at Rs45.4 crore against Rs8.8 crore in the year-ago period.
Comment E-mail Print Share
First Published: Mon, Jul 20 2009. 11 08 PM IST
More Topics: CNBC-TV18 | Sensex | Markets | Shares | Money Matters |