Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Thu, Jun 25 2009. 01 08 AM IST
Updated: Thu, Jun 25 2009. 01 08 AM IST
TTML (9.89% up)
The shares of Tata Teleservices (Maharashtra) Ltd (TTML) were up 10%. The telecom firm is set to launch global system for mobile (GSM) services in Maharashtra and Goa in August. The company says it will target existing customers with simple cost structures.
Sun TV Network (3.81% up)
The Sun TV Network Ltd stock gained 3.8%. The firm’s FY09 consolidated net profit was at Rs368.3 crore compared with Rs326.7 crore in the year-ago period. The company told CNBC-TV18 that it sees equity dilution of around 5% in subsidiary South Asia FM for Rs75-100 crore.
Punj Lloyd (6.48% up)
The Punj Lloyd Ltd shares gained 6.5%. The firm is likely to settle disputes with ONGC regarding the Heera oilfield project and with SABIC Petrochemicals in the UK. There is talk that it may win orders worth Rs2,500 crore. However, chairman Atul Punj said he cannot comment on these reports.
United Spirits (4.69% up)
The United Spirits Ltd stock was up 4.7%. Chairman Vijay Mallya met Diageo chief executive Paul Walsh on 22 June and talks on a strategic alliance are said to be on track. United Spirits has also received offers from two private equity firms that are ready to invest $200-300 million each.
RNRL (3.60% up)
The shares of Reliance Natural Resources Ltd (RNRL) gained 3.6% after the firm’s counsel confirmed having written two letters to Reliance Industries Ltd (RIL). RNRL has sought a meeting with RIL to decide on the tenure, volume and price of gas from the Krishna-Godavari basin.
Glenmark (6.69% up)
The Glenmark Pharmaceuticals Ltd stock was up 6.7%. The drug maker’s molecule Melogliptin is set to enter into phase III trials by the end of the year. The company told CNBC-TV18 that it will be able to close the deal on Melogliptin by the end of the year.
IRB Infra (3.74% up)
The shares of IRB Infrastructure Developers Ltd were up 3.74% as brokerages turned bullish on the stock after the company announced that it has emerged as the lowest bidder for three road projects. These project wins will increase IRB’s asset size to Rs9,800 crore.
Educomp (10.89% up)
The shares of Educomp Solutions Ltd gained Rs335.95 on Wednesday to close at Rs3,421.55 on the National Stock Exchange. Pearson is buying half of the education firm’s arm, Educomp Vocational Training, for $17.5 million, or around Rs85 crore.
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First Published: Thu, Jun 25 2009. 01 08 AM IST