Patni Computer (7% up)
The Patni Computer stock gained 7% after the company guided for flat revenue growth, which came as a respite as the Q1 revenue was down 11% sequentially. The company told CNBC-TV18 that it is actively looking at acquisitions to use the huge free cash its sitting on.
Bank of India (6% down)
Bank of India fell 6% after it reported it has restructured Rs5,049 crore, or 3.5% of total advances. Analysts are concerned as this figure is one of the highest among all banks reported till date. The management has given a cautious outlook and says muted credit growth in Q4; NII at 17.75%
Suzlon Energy (6% up)
The Suzlon stock rallied 6% after institutions turned bullish after a conference call from Vestas, the world’s top wind turbine manufacturer. Vestas suggested an improved outlook for the wind energy market and expectations of significant orders inflows from the US over next six months.
Noida Toll Bridge (7% up)
Shares of the Noida Toll Bridge Co. rallied by 7% after the company posted good earnings. Net profit for the fourth quarter stood at Rs33.8 crore compared with Rs28 crore in the corresponding period of the previous fiscal year, while sales increased to Rs79.2 crore compared with Rs66.4 crore.
IDFC (13% up)
Shares of IDFC surged 13% after the company said that it will deliver steady growth to the investors. Growth prospects will return to the lending business, it said, and hinted that it might surprise the market in the investment banking vertical. IDFC wants to acquire a bank but is not actively working on it right now.
Ceat (11% up)
Shares of tyre maker Ceat were up 11% on the back of strong numbers, with profit before exceptional items at Rs36.5 crore against Rs21.5 crore. The company told CNBC-TV18 that margins have seen improvement on account of raw material costs and expects 7% growth in the next fiscal.
Man Industries (10% up)
The Man Industries stock moved up by 10% after the company said it had won an order worth Rs1,340 crore from West Asia, which is executable within the current fiscal year. The company told CNBC-TV18 that this has raised the total order book to Rs2,000 crore.
Hexaware Tech (2% up)
Shares of Hexaware Technologies rose 2% after the firm told CNBC-TV18 it has seen an improvement in gross margins and net margins and will see some recovery in two or three quarters. Project cancellations too, have stopped, and the company sees FY10 revenue upward of $200-210 million.