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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Tue, Jul 28 2009. 10 27 PM IST
Updated: Tue, Jul 28 2009. 10 27 PM IST
HUL (7.07% down)
Hindustan Unilever Ltd (HUL) shares declined 7.07% after it reported a net profit of Rs543.2 crore for the June quarter, against Rs558.2 crore in the year-ago period. The firm said its market share has fallen in the soaps segment, and margins have gone down in personal care products.
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Tata Motors (10.4% up)
The Tata Motors stock gained 10.4% on the back of strong results announced on Monday. The firm reported a 58% increase in its net profit for the quarter ended 30 June. CNBC-TV18 reported that the company is considering to raise around $300 million in the next few weeks.
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Unitech (8.75% up)
The shares of realty firm Unitech increased 8.75% after the finance ministry announced incentives for the housing sector. The relief includes interest subvention of 1% on housing loans below Rs10 lakh, interest subsidy for house loans below Rs30 lakh and Rs1,000 crore as home loan subsidy.
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Deccan Chronicle (9.28% up)
The shares of Deccan Chronicle Holdings gained 9.28% and traded near the maximum buy-back price of Rs100 per share. The firm has to buy back a minimum of 10 million shares. The stock traded around five times its average volume on the National Stock Exchange.
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Shree Renuka (8.49% up)
The shares of Shree Renuka Sugars gained 8.49% on speculation that the firm is close to acquiring a Brazilian sugar company for around $100 million. The deal is likely to be funded through a qualified institutional placement issue. The Brazilian firm will be used to import raw sugar.
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Bajaj Hindusthan (4.42% up)
The Bajaj Hindusthan stock increased 4.42% after the firm said it had sold only 150,000 tonnes of sugar, and 60% of its inventory was unsold. The firm expects sugar prices to rise and production to go up by 50%. There is potential for strong profits next year and will produce 1 million tonnes of sugar.
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Suzlon Energy (0.23% up)
The shares of Suzlon Energy gained 0.23% after REpower, a subsidiary firm, said that its June quarter earnings before interest and taxes rose to €10.7 million from €10.2 million as sales increased. REpower’s quarterly sale were at €300.7 million, against €231.8 million in the year-ago period.
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GSPL (4.23% up)
The shares of Gujarat State Petronet Ltd (GSPL) gained 4.23% after Citi raised its price target for the stock to Rs82 per share from Rs70, and increased its earnings forecast from 21% to 31%. Citi says the stock remains its top gas pick on the back of higher volume estimates.
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First Published: Tue, Jul 28 2009. 10 27 PM IST
More Topics: CNBC-TV18 | Sensex | Markets | HUL | Tata Motors |