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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Fri, Jul 24 2009. 01 15 AM IST
Updated: Fri, Jul 24 2009. 10 34 AM IST
Mahindra Satyam (13.9% up)
Mahindra Satyam ended up 13.9% after Tech Mahindra’s conference call. JPMorgan upgraded FY10E/FY11E earnings per share by 11-13% and 10 June target price to Rs150 from Rs100. It remains one of their key IT picks driven by Mahindra takeover.
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ACC Ltd (5.6% up)
The ACC share was up 5.6% having beaten market expectations on its results. Second quarter FY10 net profit was up 79% at Rs486 crore from Rs272 crore due to better realizations in north India and costs control.
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ITC Ltd (5.4% up)
ITC closed 5.4% higher on the back of good results, posting first quarter net sales of Rs4,082.7 crore against Rs3,899.7 crore and net profit of Rs878.7 crore versus Rs748.7 crore. Cigarette revenue were up 14% against analyst estimate of 11%.
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Maruti Suzuki (6.7% up)
Shares of Maruti Suzuki were up 6.7% after the company’s results. First quarter revenue was up 34% at Rs6,493 crore, and profit after tax up 25.3% at Rs583.5 crore. The company said it has registered highest ever quarterly sales.
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Eveready (17.8% up)
The Eveready Industries share was up 17.8% with volumes nearly 10 times of the two-week average of 200,000 shares. The company will declare its first quarter numbers at the annual general meeting on Thursday.
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Finolex Cables (8% down)
Finolex Cables ended flat but slipped 8% from the day’s high at Rs35. First quarter operating profit came at Rs50 crore against Rs47.5 crore and net profit was up three times to Rs22 crore.
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First Published: Fri, Jul 24 2009. 01 15 AM IST