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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Thu, Apr 08 2010. 11 19 PM IST
Updated: Thu, Apr 08 2010. 11 19 PM IST
Mid Day (8.31% down)
Shares of Mid Day closed 8.31% down after gaining 12% in the morning trade. The stock ended down after the management denied any equity stake sale. Earlier, CNBC-TV18 reported that Jagran Prakashan Ltd is in talks to acquire majority stake in the company.
SAIL (7.25% down)
The Steel Authority of India Ltd (SAIL) stock ended 7.25% down after the cabinet okayed divestment in SAIL to mobilize a total of Rs16,000 crore through both further public offer and sale of government equity. The market fears a large discount to the current market price like NMDC.
Essar Oil (3.29% up)
Shares of Essar Oil Ltd rose 3.29% after the company’s promoters decided to list their energy company (which includes their holdings in Essar Oil) on the official list of Financial Services Authority, UK and to trading on the London Stock Exchange’s main market for listed securities.
Lanco Infratech (4.88% up)
Shares of Lanco Infratech Ltd rose 4.88 % after the Supreme Court dismissed the case for Amarkantak unit. Lanco was involved in a legal case with MP Power Trading Co. Ltd (MPPTC) over the 300MW Amarkantak unit from where MPPTC wanted the supply at regulated tariffs.
Welspun Gujarat (7.29% down)
Shares of Welspun Gujarat Stahl Rohren Ltd, an India-based pipe producing company, fell 7.29% at Rs271 after 4.9% or 10 million of the company’s shares changed hands on the National Stock Exchange at Rs268 per share.
Shreyas Shipping (10.06% up)
The Shreyas Shipping and Logistics Ltd stock rose 10.06% after the company’s management told CNBC-TV18 that next quarter will see a turn around. The management said that domestic container rates were up 20% in March and international feeder rates had gone up by 7-8% in March.
PBA Infra (19.63% up)
Shares of PBA Infrastructure Ltd surged 19.63% on talks of order buzz. The company recently bagged an order from Sadbhav Engineering Ltd. The institutional holding in the company is nil and annualized FY10 profit after tax is around Rs16 crore.
Jubilant Foodworks (6.69% down)
Shares of Jubilant Foodworks Ltd fell 6.69% down after gaining 17% a day ago. Ramesh Damani, a member of the Bombay Stock Exchange, told CNBC-TV18 that the stock has run ahead of its fundamental. Kotak Institutions had initiated sell with target price of Rs260.
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First Published: Thu, Apr 08 2010. 11 19 PM IST
More Topics: CNBC-TV18 | Sensex | Nifty | BSE | NSE |