Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Tue, May 11 2010. 01 15 AM IST
Updated: Tue, May 11 2010. 02 20 PM IST
Talwalkars (27% up)
The Talwalkars Better Value Fitness scrip rose 27% to Rs162.60 against issue price of Rs128 on the first day of listing. The company’s management says it expects earnings per share of up to Rs12.50-13.50 and profit after tax of around Rs30-32 crore in FY12.
RIL (4.5% up)
Shares of Reliance Industries (RIL) gained 4.5% after the Supreme Court ruled in favour of the company in the gas dispute with Reliance Natural Resources. The gain helped boost investors’ sentiment as the benchmark Sensex settled up 3.35% at 17,330.55 points.
Dish TV (8.0% up)
The Dish TV stock closed up 8.6% after it narrowed its fourth-quarter loss. The firm reported a net loss of Rs60 crore in the three months to March against a loss of Rs78.66 crore in the year-ago period. Revenue stood at Rs303 crore, up 46% against Rs207 crore in Q4 a year earlier.
Hindustan Zinc (3.6% up)
Shares of Hindustan Zinc, a unit of Vedanta Resources, gained 3.6% after Vedanta acquired the zinc assets of Anglo American for $1.34 billion. Vedanta will acquire the assets through Hindustan Zinc. The transaction will be funded from existing cash resources.
Cipla (6.4% down)
The Cipla scrip fell 6.4% after CLSA downgraded the firm to under-performer. The disappointment came after a 167 basis points fall (year-on-year) in Ebitda margins to 16.8%. The firm has guided for full year revenue growth of 8-10% against analysts’ estimate of 15-16%.
API (4.6% up)
Ansal Properties and Infrastructure (API) rose 4.6% after it said it has raised Rs72 crore via preferential allotment to Enam Investment Services and will lead to equity dilution of nearly 4.55%. The company had an enabling resolution of raising Rs1,000 crore through qualified institutional placements.
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First Published: Tue, May 11 2010. 01 15 AM IST