Movers & Shakers

Movers & Shakers
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First Published: Tue, May 12 2009. 11 13 PM IST
Updated: Tue, May 12 2009. 11 13 PM IST
Kotak Mahindra (9.74% up)
Shares of Kotak Mahindra Bank gained 9.74% after reporting better-than-expected March quarter results. The lender recorded a consolidated net profit of Rs210.7 crore in the quarter compared with Rs240 crore a year ago. The stock closed at Rs484.65 on the National Stock Exchange.
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Unitech (6.14% up)
The Unitech Ltd stock gained 6.14% on Tuesday on reports that the real estate developer plans to repay Rs1,600-1,700 crore debt through cash flow this year. It was one of the most-traded stock on Tuesday. The stock closed at Rs51 on the National Stock Exchange.
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Harrisons (11.90% up)
Shares of Harrisons Malayalam gained 11.90% as tea production declined further. Tea output in south India is seen lower in April for the fourth consecutive month due to insufficient rains. The firm realized an average unit value of Rs101.43/kg during the March quarter against Rs79.74/kg a year ago.
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Jindal Saw (13.68% up)
The Jindal Saw Ltd stock gained 13.68% as crude oil prices reached around $60 a barrel. The firm manufactures arc-welded pipes, which are largely used by the oil and gas industry. The firm recorder a fourth quarter net profit of Rs95.5 crore compared with Rs83.1 crore a year ago.
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Spanco (19.73% up)
Shares of Spanco gained 19.73% on the Bombay Stock Exchange after reports that the firm has emerged as the lowest bidder for a Rs3,750 crore BSNL contract. The company is also looking to acquire joint venture partner Spice Group’s stake in Bharat BPO.
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ETC Networks (13.93% up)
Shares of ETC Networks Ltd were up almost 14% after CNBC-TV18 reported that the media and entertainment company’s education division Zee Learn is looking at raising Rs1,000 crore and is targeting a growth rate of 30-40%. The stock closed at Rs81.40 on the National Stock Exchange.
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Camlin (20.07% up)
The stock gained 20% for second day in a row on news that the company is entering the pre-school segment. The firm reported fourth quarter net profit of Rs2.6 crore against a net loss of Rs1 crore a year ago. Its net sales stood at Rs75.2 crore in the quarter compared with Rs59.7 crore in the same period last year.
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3i Infotech (20.88% up)
Shares of 3i Infotech gained 20.88% to close at Rs59.35. The stock has been rising since it announced its fourth quarter results. Since the company went public in 2005, it has grown at 67% per annum—an organic growth rate of around 37% and inorganic growth of around 35%.
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First Published: Tue, May 12 2009. 11 13 PM IST