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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Mon, Feb 15 2010. 10 06 PM IST
Updated: Mon, Feb 15 2010. 10 06 PM IST
Bharti Airtel (Down 9.19%)
Shares of Bharti Airtel Ltd, India’s biggest wireless operator, ended 9.19 % down after Zain confirmed to CNBC-TV18 that the company has entered into exclusive discussions with Bharti Airtel until 25 March for a $10 billion deal.
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Vascon Engineers (Down 10.27%)
The Vascon Engineers Ltd stock fell 10.27% at Rs148 on the first day of listing compared with its issue price of Rs165. The company, which is engaged in engineering procurement and construction and real estate development, raised Rs178 crore.
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Syncom Healthcare (Up 17%)
Shares of Syncom Healthcare Ltd ended 17% up at Rs83 but came off from days’ high of Rs107 on the first day of listing against an issue price of Rs75. The company raised Rs56.25 crore The issue was subscribed 5.17 times and traded at around 25 times of the issue price.
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JSPL (Up 2.92%)
Shares of Jindal Steel and Power Ltd (JSPL) ended 2.92% up after CLSA Asia Pacific Markets initiated coverage with outperformer rating and a target price of Rs700 per share. JSPL has lined up large expansion plans in both its steel and power businesses.
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TII (Up 3.57%)
Shares of Tube Investment of India Ltd (TII) ended 3.57% up after the firm acquired majority stake in France’s Sedis Group through acquisition of its holdings firm, Financiere C10. TII has directly picked up 77% in the holding firm, from financial investors and other shareholders.
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Nahar Capital (Up 12.80%)
Shares of Nahar Capital and Financial Services Ltd closed 12.80% up at Rs73.3 on news that the promoters (Oswal Woollen Mills Ltd) had made an open offer at Rs75 per share to consolidate holdings. OWM’s holding stands at 62% and acquired 5% through creeping acquisition. OWM wants to maintain a public holding of 25%.
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Empower Ind (Up 9.98%)
Shares of Empower Industries India Ltd ended 9.98% up after the company’s board approved a bonus issue of 23 new shares for every two shares held to the existing shareholders of the company. The board also approved issue of 30 million equity shares on preferential basis to various allottees.
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First Published: Mon, Feb 15 2010. 10 06 PM IST