Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Wed, Sep 02 2009. 11 51 PM IST
Updated: Wed, Sep 02 2009. 11 51 PM IST
Austral Coke (5% down)
Austral Coke and Projects Ltd ended the day down 5% at Rs47.85 after the Securities and Exchange Board of India unearthed a Rs1,000 crore scam at the firm. The Income-tax department found bogus transactions worth Rs1,000 crore related to purchase and sale of machinery.
Gwalior Chemical (9% up)
Gwalior Chemical Industries Ltd gained Rs8.15 to close at Rs99.30, up 9% after the company completed the transfer of business to German chemical firm Lanxess AG for Rs380 crore, effective 1 September. The firm plans a Rs100 crore cash distribution to shareholders.
Redington (10.6% up)
Redington (India) Ltd ended up 10.6% after 2.85% equity changed hand on the National Stock Exchange on Wednesday at Rs250 per share. Enam Securities has been bullish on the counter and included the stock in its top mid-cap pick for August. Enam has a price target of Rs315.
Renuka Sugars (4.3% up)
Shree Renuka Sugars Ltd ended up 4.3% at Rs212.60 after CNBC-TV18 reported that levy sugar quota is likely to be fixed at 20% and levy sugar price at Rs22 per kg. The final notification is expected in next few days. This may prove to be a positive announcement for the industry.
Berger Paints (8.6% up)
Berger Paints (India) Ltd closed up 8.6% on market talk of acquisition plans in China but the management denied it completely. The stocks has been buzzing since Nalanda India Fund picked 72 lakh shares at Rs50.5, thus increasing its stake to over 6%. Berger said that Nalanda Fund has been interested in the firm for some time.
Dalmia Cement (6.1% up)
Dalmia Cement (Bharat) Ltd gained Rs11.70 per share to close the day at Rs202.75, up 6.1% after CNBC-TV18 reported that the firm plans to meet FIIs and do non-deal roadshows to make investors understand the potential of the company. The company’s focus is to look at various options to unlock value.
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First Published: Wed, Sep 02 2009. 11 51 PM IST
More Topics: CNBC-TV18 | Sensex | Shares | BSE | Markets |