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Movers & Shakers

Movers & Shakers
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First Published: Fri, May 08 2009. 09 37 PM IST
Updated: Fri, May 08 2009. 09 37 PM IST
United Spirits (6.46% down)
United Spirits Ltd lost 6.46% on reports that Diageo has not found acceptable structure to buy a stake in United Spirits and the deal has not progressed. Diageo will continue to grow in India even if United Spirits deal fails. Vijay Mallya says that talks are very much on with Diageo. There are structuring issues due to anti-trust/monopoly issues.
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Bharati Shipyard (12.38% up)
Shares of Bharati Shipyard Ltd gained 12.38% after acquiring ownership control in Great Offshore by buying 4.9% pledged equity at Rs315 per share for Rs173 crore. Bharati has emerged as the single biggest shareholder in Great Offshore with 14.9% stake. The stake transfer is due to Vijay Sheth’s inability to raise money to free the shares he had earlier pledged to raise funds.
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TVS Motor (22.69% up)
Shares of TVS Motor Company Ltd surged 22.69% on the National Stock Exchange on Friday after the company announced this week that it has lined up product launches to increase its footprint in the local market. The company will launch a new model called Apache 180, followed by another model named Sport. Brokerage house Emkay Research says that the worst is over for TVS Motor, upgrading its rating to hold.
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JSW Steel (4.65% down)
Shares of JSW Steel Ltd were down 4.65% after rallying 14% on Thursday after it declared results that were below analysts expectations. In the fourth quarter, the firm posted a consolidated net loss of Rs40 crore. BoA Merrill Lynch says that the firm’s balance sheet concerns remain and covenant risks for its US acquisition debt and potential refinancing risks are negative triggers for the stock.
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Aban Offshore (6.58% up)
Shares of Aban Offshore Ltd gained 6.58% after the company said that 95% of its clients are either investment grade or better in the Transocean conference call on rig market outlook. It, however, said that it does not expect recovery in the market in 2010 due to new rig deliveries. Nine jack-up rigs are now lying idle, compared with three in the previous quarter, and this number is likely to rise further.
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Jayshree Tea (15.61% up)
Shares of Jayshree Tea and Industries Ltd were up 15.61% on reports that tea prices may rise 10 -20 % this fiscal. Tea production in India, the world’s largest grower, fell 11% in March after dry weather in the nation’s biggest growing region damaged the crop, the state-owned Tea Board of India had said. Prices of tea, which had fallen from Rs140 per kg to Rs100 a kg, had become unremunerative in the last few years.
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First Published: Fri, May 08 2009. 09 37 PM IST
More Topics: CNBC TV18 | Movers and Shakers | Stocks | Shares | BSE |