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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Thu, Jul 09 2009. 11 05 PM IST
Updated: Thu, Jul 09 2009. 11 05 PM IST
Educomp (13.60% up)
Shares of Educomp Solutions Ltd rose 13.6% on Thursday. The firm raised Rs607 crore through the qualified institutional placement (QIP) route at Rs3,745 per share. It said that the QIP allotment is done and the money will be used for growth and not repaying debt.
Unitech (2.05% up)
Shares of Unitech Ltd closed up 2.05% after recovering at least 10% from the day’s low. The firm’s 34.4 crore shares via qualified institutional placement hit the market on Thursday, but witnessed short covering when F&O (futures and options) positions crossed 85% of marketwide limit intra-day.
Taj GVK (9.56% up)
Shares of Taj GVK Hotels and Resorts Ltd ended up 9.56% on reports that the finance minister has assured to grant infrastructure status for the hotel industry. The firm told CNBC-TV18 that the hotel industry needs the infrastructure status and expects to see a better period from September.
Alstom (12.36% up)
Shares of Alstom Projects India Ltd ended up 12.3% on Thursday after the firm signed an agreement with BEML for technology support and supply of components pertaining to the manufacture of light rail vehicles, medium and high speed trains and double decker coaches.
Ashok Leyland (9.39% up)
Ashok Leyland Ltd rose 9.39% on fund raising plans. The management told CNBC-TV18 that the board took an enabling resolution to raise money, but the quantum of funds to be raised is undecided. Funds will be used for projects and not to reduce debt, it said. Also, the company is looking at a rights issue.
Prakash Industries (8.92% up)
Shares of Prakash Industries Ltd were up 8.92% on the National Stock Exchange as the company is raising Rs500 crore through foreign currency convertible bonds to fund expansion plans in steel and power. Funds raised will be used to part fund its 625MW power plant in Chhattisgarh.
Marico (3.96% up)
Shares of Marico Ltd were up 3.96% on the National Stock Exchange on Thursday. The company is planning an initial public offering (IPO) of its Bangladesh subsidiary. The size of the IPO is very small and is unlikely to have any material impact on the company’s financials.
Jai Balaji (13.29% up)
Shares of Jai Balaji Industries Ltd gained 13.29% to close at Rs202.05 on the National Stock Exchange. The company is in the process of raising Rs450 crore to fund its expansion plans. The firm is setting up a 5 million tonne steel plant in West Bengal’s Purulia district.
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First Published: Thu, Jul 09 2009. 11 05 PM IST
More Topics: CNBC-TV18 | Gainers | Losers | Markets | Educomp |