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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Thu, Mar 11 2010. 10 14 PM IST
Updated: Thu, Mar 11 2010. 10 14 PM IST
Man Infra (39.83% up)
Man Infraconstruction ends up 38.83% at Rs346 on the first day of listing against the issue price of Rs252. The issue received total bids for over 29 crore shares against 46.53 lakh shares. The management says FY11 sales are seen over Rs1,100 crore and net profit around Rs135 crore.
Shree Renuka (5.53% down)
Shree Renuka Sugars down 5.53% after Morgan Stanley downgraded the sector from over-weight to under-weight. Morgan Stanley cuts Shree Renuka’s price target to Rs140 from Rs250. The Indian Sugar Mills Association estimates domestic sugar production at 16.8 mt, up from earlier estimate of 15 mt.
Torrent Pharma (2.95% up)
Torrent Pharma ends up 2.95% after a pact with AstraZeneca. As per the deal, AstraZeneca will initially purchase from Torrent the licences and market authorizations for 18 products in nine countries. The deal allows the flexibility to add further products and new countries.
Chemplast (20.44% up)
Chemplast Sanmar rises after the Supreme Court cleared the firm’s Rs600 crore green-field PVC complex in Tamil Nadu. “It shall not be in the interest of justice nor in public interest to interfere with the project,” a bench comprising Chief Justice K.G. Balakrishnan and justices R.M. Lodha and B.S. Chauhan said.
Take Solutions (9.59% up)
Take Solutions ends up 9.59% after the government shortlists four companies as franchisees of Bharat Sanchar Nigam Ltd’s WiMAX services and Take was among them. The company entered into a partnership on Thursday with Liquent to provide fully outsourced publishing capabilities.
Fortis Healthcare (4.52% up)
Fortis Healthcare ends up 4.52% after the firm bought 24% stake in Parkway Holdings for $685.3 million. Parkway Holdings is the largest healthcare provider in Singapore. The stake was bought from TPG Capital. Parkway Holdings reported FY09 revenue of 979 million Singapore dollars and profit of 118 million Singapore dollars.
Dewan Housing (1.73% up)
Dewan Housing ends up 1.73% after 9% equity changed hands on exchanges as part of a family settlement. Founder Kapil Wadhawan bought 3.1 million shares, 3.77% of equity from Rakesh Kumar Wadhawan and Anu Wadhawan on the National Stock Exchange.
Nelco (4.26% up)
Nelco ends up 4.26% on news that the company is executing orders worth Rs100 crore from the Indian Railways for power converters, auxiliary converters and control electronics. It is in an advanced stage of execution of a very large defence network project. An order from Oil and Natural Gas Corp. is also currently under execution.
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First Published: Thu, Mar 11 2010. 10 14 PM IST
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