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Movers & Shakers

Movers & Shakers
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First Published: Tue, May 05 2009. 10 21 PM IST
Updated: Tue, May 05 2009. 10 21 PM IST
Bajaj Hind (23.86% up)
Bajaj Hindusthan Ltd surged 23.86% after CNBC-TV18 reported that the industry is expecting a change in the calculation of the state advised price for sugar cane. Also, stocks gained on the back of global sugar shortage and expectations of firm prices in the future.
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Sobha Dev (8.81% up)
Sobha Developers Ltd gained 8.81% as the real estate firm’s board approved raising additional capital of Rs750 crore. The money will be used to retire part of the debt, which stands at Rs1,850 crore. The company might also raise funds by selling some of its 3,000 acres of land.
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Unitech (10.36% up)
Unitech Ltd gained 10.36% to close at Rs54.35 on the National Stock Exchange. The stock continues to buzz in line with the rest of the real estate pack. Unitech, India’s second most valuable real estate firm, was among the most traded shares in the market on Tuesday, with 18.6 million shares changing hands.
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Inox Leisure (10.14% up)
Shares of Inox Leisure Ltd gained 10.14% on the back of negotiations between multiplexes and film distributors. Multiplex owners are demanding a 50:50 revenue-sharing model between multiplexes and distributors. At present, multiplexes get 45% of the total revenue generated by a movie show.
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DLF (11.66% up)
DLF Ltd gained 11.66% to close at Rs260.55 on the National Stock Exchange. The realtor plans to raise Rs5,500 crore through sale of “non-strategic assets” that will not be contributing to its revenues in the next three-five years. The sale of assets worth Rs3,500 crore is already being executed.
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HDFC (5.81% down )
Shares of Housing Development Finance Corp. Ltd (HDFC) declined 5.81% as a result of profit-booking seen in the stock after it rallied 14% on Monday, after the lender declared its quarterly results. Its profit after tax has fallen less than market expectations. The interest income has jumped 31% to Rs2,940 crore.
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Strides Arcolab (6.90% up)
The Strides Arcolab Ltd stock rose 6.90% to close at Rs113.85. The drug maker had announced on Tuesday that it has started commercial production of H1N1 drug oseltamivir. The firm aims to produce at least 2 million doses of the generic antiviral flu drug per month from June.
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Eveready Ind (8.40% up)
Shares of Eveready Industries India Ltd gained 8.40% as the firm is back in the black. The company registered a net profit of Rs5.59 crore for the March quarter, against a loss of Rs6.50 crore in the year-ago period. The stock closed at Rs26.45 on the National Stock Exchange.
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First Published: Tue, May 05 2009. 10 21 PM IST