Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Tue, Jan 05 2010. 12 53 AM IST
Updated: Tue, Jan 05 2010. 12 53 AM IST
TVS Motors (9.4% up)
Shares of TVS Motors, India’s third largest motorcycle maker, rose 9.4% after the firm reported that two-wheeler sales in December surged 34.1%. The firm sold 119,701 two wheelers in India and overseas last month, compared with 89,285 a year earlier, it said on 1 January.
Bajaj Auto (1.3% down)
Shares of Bajaj Auto Ltd were down 1.3% even as its total sales were up 77% at 252,000 units in December. The firm told CNBC-TV18 that it sold 45,000 units of its Pulsar brand of motorcycles and 85,000 units of its Discover brand. The company ended 2009 with the highest yearly sales.
Gallantt Metal (9.4% up)
Shares of Gallantt Metal Ltd were up 9.4% after the firm told CNBC-TV18 that Gallantt Ispat has planned an initial public offering (IPO) at a price of Rs50 per share. Gallantt Ispat plans to raise Rs40.5 crore through the IPO route. The promoters’?shareholding will be reduced to 69.93% from 92.77%, post issue.
RIL (1.4% down)
Shares of Reliance Industries Ltd (RIL) were down 1.4% after it sold shares worth Rs2,675 crore at Rs1,035 per share. RIL is keen to acquire LyondellBasell to access new markets in Europe and the US and build scale to help it emerge a global player in petrochemicals.
Aditya Birla (20% up)
Shares of Aditya Birla Money surged 20% after the firm told CNBC-TV18 that it is looking at integration of its financial services firms. The company, however, said it does not seek to carve out the financial services business from Aditya Birla Nuvo and merge it with Aditya Birla Money.
Nesco (17.8% up)
Shares of Nesco surged 17.8% after investment analyst Ashish Chugh recommended the stock on CNBC-TV18. The firm has about 70-72 acres of land in Goregaon, Maharashtra. Chugh said the company is capable of generating 50-60% returns in at least a year’s time.
JSW Energy (0.85% up)
Shares of JSW Energy, which raised Rs4,500 crore from an initial public offering, were up 0.85% on the first day of its listing. The scrip opened at Rs102 and touched an intraday high of Rs106.40 on the Bombay Stock Exchange,while the markets expected it to list below its issue price.
Escorts (9.5% up)
Shares of Escorts Ltd were up 9.5% after Edelweiss initiated coverage with a ‘buy’ and a target price of Rs170. The company has divested its non-core businesses. The firm’s tractor business has significantly turned around with its profitability now comparable with the industry .
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First Published: Tue, Jan 05 2010. 12 53 AM IST