Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Thu, Oct 08 2009. 12 58 AM IST
Updated: Thu, Oct 08 2009. 12 58 AM IST
SpiceJet (9.7% up)
SpiceJet ended up 9.7% after the company’s management told CNBC-TV18 that passenger traffic numbers are up around 20%, and low fares have stimulated traffic growth. The yields have increased in the last two-three weeks, but the key would be demand growth when fares rise.
Maytas Infra (5% up)
Maytas Infra Ltd shares ended up 5% after the company’s management told CNBC-TV18 that it expects to announce a Rs 1,000 crore order soon. The current order book stands at Rs7,500 crore. The company will also be getting Rs100 crore from banks in one week.
ABG Shipyard (3.9% down)
ABG Shipyard Ltd shares ended down 3.9% following CNBC-TV18’s exclusive report that the income-tax department was conducting raids on the company to check the possibility of tax evasion. The raids began early Wednesday morning in Mumbai and Surat.
Gitanjali Gems (6.1% up)
Gitanjali Gems Ltd gained 6.1% after acquiring Alliance Jewellery via subsidiary Brightest Circle Jewellery. Alliance manufactures gold and diamond-studded jewellery. Gitanjali is investing Rs15 crore in the acquisition, which will be used to add capacity in fiscal 2010.
Omnitech (3.6% up)
Omnitech Infosolutions Ltd gained 3.6% after its management told CNBC-TV18 that it has an enabling resolution to raise up to $50 mn. The firm is exploring various options to raise funds, which will be used for capital expenditure and acquisitions. The firm expects 20-25% growth in FY10.
Zenotech Labs (20% up)
Zenotech Laboratories Ltd ended up 20% after the Securities Appellate Tribunal (SAT) favoured Zenotech minority shareholders and told Daiichi Sankyo to make an open offer at Rs160 per share. Daiichi had earlier made an open offer of Rs113.60 per share.
Godrej (6.3% up)
Godrej Industries Ltd gained 6.3% after the firm announced the setting up of special purpose vehicle to develop property at Vikhlori. The company’s board approved a proposal to enter into an MoU with Godrej & Boyce and Godrej Properties for development of the property.
Aban Offshore (0.7% down)
Aban Offshore Ltd lost 0.7% on profit-selling in a volatile market. It gave away early gains on a CNBC-TV18 exclusive that a QIP is likely to happen in November and the firm is looking to raise between Rs2,000 crore and Rs2,500 crore. The firm’s total debt stands at Rs16,500 cr.
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First Published: Thu, Oct 08 2009. 12 58 AM IST