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Movers & Shakers

Movers & Shakers
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First Published: Wed, May 27 2009. 11 14 PM IST
Updated: Wed, May 27 2009. 11 14 PM IST
Arvind (up 20.23%)
The Arvind Ltd stock gained 20.23% after finance minister Pranab Mukherjee said that the government would focus on export-oriented sector such as textiles, gems and jewellery in the budget. The stock closed at Rs31.80 per share on the National Stock Exchange on Wednesday.
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NMDC (up 10%)
The NMDC Ltd stock gained 10% on the back of disinvestment rumor. However, the company management told CNBC-TV18 that it had no discussions till date with anyone over disinvestment. The mining company has investment plans of Rs26,000 crore in the next four years.
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Reliance Infra (up 14.84%)
Shares of Reliance Infrastructure gained 14.84% on speculation that the firm’s management met fund mangers on Tuesday. It also gained from the finance minister’s statement that the budget will focus on the infrastructure sector, and pipeline of infrastructure projects will be reappraised.
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LIC Housing Finance (up 7.17%)
Shares of LIC Housing Finance were up 7.17%. Brokerage firm Edelweiss has upgraded the stock rating to buy, with a target price of Rs610. The company has been consistently reporting loan growth rate in excess of 20% , sharp reduction in bad loans and margins of 2.8-3.2%.
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ONGC (up 8.93%)
The ONGC stock was up 8.93% after the oil exploring firm’s chairman said the company was close to finalizing price with Cairn India Ltd. The oil ministry has reiterated that ONGC is liable to pay the entire royalty on Cairn crude as it is the licensee for the Cairn’s Rajasthan block.
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Nectar Lifesciences (up 20.18%)
Shares of Nectar Lifesciences Ltd closed 20.18% up at Rs26.80 on the National Stock Exchange on Wednesday. The company has been reporting compounded annual growth rate of 35% in sales. The stock is expected to have an earning per share of Rs5 in FY09.
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Tata Motors (up 5.61%)
Shares of Tata Motors Ltd were up 5.61% after CNBC-TV18 reported that the auto maker will be signing Jaguar-Land Rover loan rollover agreement by Wednesday with banks. The firm will roll over $1.1 billion of loan for 18 months at half a percentage point over Libor.
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Sesa Goa (up 7.31%)
Shares of Sesa Goa Ltd gained 7.31% as brokerage firm Kotak Mahindra maintained its buy rating for the stock, with a revised target price of Rs200 from Rs150. The brokerage also raised FY10 and FY11 earnings estimates by 22% and 38%, respectively.
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First Published: Wed, May 27 2009. 11 14 PM IST
More Topics: CNBC-TV18 | Gainers | Losers | Markets | Arvind Ltd |