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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Thu, Jun 25 2009. 11 06 PM IST
Updated: Thu, Jun 25 2009. 11 06 PM IST
Tata Motors (5.43% down)
The shares of Tata Motors Ltd closed down 5.43%. The firm is likely to raise at least $500-600 million via rights issue/private placement, it told CNBC-TV18. The stock was under pressure on fears that fund-raising could lead to an additional 20% equity dilution.
Unitech (5.19% up)
Shares of real estate company Unitech Ltd gained 5.19% to close on Thursday on the back of good results. Fourth-quarter total income was up 48.5% at Rs752.8 crore from Rs507 crore in the previous quarter. Net profit doubled to Rs279.4 crore from Rs136 crore in the third quarter.
JP Hydro (8.26% up)
Shares of Jaiprakash Hydro Power Ltd (JP Hydro) closed 8.26% higher on Thursday on reports of a proposed merger with Jaiprakash Power Ventures, a wholly-owned subsidiary of Jaiprakash Associates that is also in the hydro-electricity generation space.
Bartronics (9.99% up)
Bartronics India Ltd shares were up 10% on hopes of a big order win from the national ID project. Union human resource development minister Kapil Sibal said the unique identification system will use biometrics and the proposed national unique identity authority will be made a statutory body.
Pfizer (3.85% down)
Pfizer Ltd shares lost 3.85%, after its parent firm revised the open offer price to Rs830 from Rs675. Pfizer global had made an open offer for a 34.5% stake in the Indian arm, in which it already holds a 41% stake. Pfizer Global said it is not looking to delist the Indian arm for the next three years.
Madras Fertilizers (5.38% up)
Madras Fertilizer Ltd shares rose 5.38% on the NSE after the government amended the New Pricing Scheme-3 to reduce losses of urea firms, which will be compensated up to 90% of losses. Madras Fertilizers will get Rs3,600 per tonne as compensation in FY10, which works out to Rs166 crore.
IVRCL (5.86% up)
The shares of IVRCL Infrastructures and Projects Ltd gained 5.86%. The company told CNBC-TV18 that it plans to divest a stake in three build-operate-transfer or BOT road projects and is in advanced talks with PE investors. IVRCL Infra can sell up to 49% in BOT projects.
JSL (6.07% down)
The JSL Ltd shares lost 6.07%. The company told CNBC-TV18 that it is filing for voluntarily corporate debt restructuring or CDR due to extraordinary losses on inventory write-down and foreign exchange movement in FY09. The CDR will help the company complete the Orissa expansion project and repay debt.
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First Published: Thu, Jun 25 2009. 11 06 PM IST
More Topics: CNBC-TV18 | Tata Motors | Unitech | JSL | Money Matters |