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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Sat, Jun 20 2009. 12 16 AM IST
Updated: Sat, Jun 20 2009. 12 16 AM IST
India Foils (34.44% up)
Shares of India Foils Ltd were up 34.44% on the National Stock Exchange. The stock re-listed on Friday after the firm’s capital restructuring and acquisition by Ess Dee Aluminium. Reports indicate that India Foils is likely to be merged with Ess Dee Aluminium.
Suzlon (10.99% up)
The Suzlon Energy Ltd stock gained 10.99% on the National Stock Exchange after falling 10.83% on Thursday on poor earnings outlook. Suzlon chairman and managing director Tulsi Tanti had said: “We are expecting a flat year ahead. We are not going to witness 30% that we saw last year.”
JP Associates (4.63% up)
The Jaiprakash Associates Ltd stock was up 4.63% on the National Stock Exchange on Friday. The company has no plan to sell any more treasury shares in FY10. Halbis and Nomura were among 12 investors who bought part of 25 million trust shares of the firm on Thursday.
Tata Motors (4.87% up)
The shares of Tata Motors Ltd were up 4.87%. The company is scheduled to launch Jaguar, Land Rover on 28 June. Merrill Lynch upgraded its stock to buy, with revised price target of Rs420 per share, up from Rs114 per share on the back of recovery in domestic business.
Orchid Chemicals (5.74% down)
Orchid Chemicals and Pharmaceuticals Ltd was down 5.74%. Sources told CNBC-TV18 that the Serious Fraud Investigation Office suspects a link between the Ketan Parekh scam and Orchid Chemicals. The ministry of corporate affairs has ordered an inspection into Orchid’s accounts books.
M&M (0.91% down)
Mahindra and Mahindra Ltd was down 0.91%. The company plans to raise Rs90.7-123 crore from the sale of 3.3 million shares of Mahindra Holidays, a group firm. Mahindra Holidays has set the price band of its public issue at Rs275-325 per share and kept the issue size at Rs255-301 crore.
Opto Circuits (7.53% up)
The shares of Opto Circuits (India) Ltd were up 7.53% to close at Rs161.40 on Friday on the back of good results. The company’s fourth quarter net sale was up 77% at Rs213 crore , compared with Rs120 crore in the year-ago period. Its operating profit margin was at 34% and net profit was up 59% at Rs55.37 crore.
Ispat Industries (7.04% up)
Ispat Industries Ltd was up 7.04%. CNBC-TV18 had reported that Essar Steel and Ispat Industries would get 4 million standard cu. m per day (mscmd) of KG basin gas at $4.2 per million British thermal unit. Ispat has now confirmed that it has been sanctioned 0.53 mscmd of gas.
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First Published: Sat, Jun 20 2009. 12 16 AM IST
More Topics: CNBC-TV18 | Sensex | Shares | BSE | Stocks |