Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Wed, Mar 31 2010. 10 57 PM IST
Updated: Wed, Mar 31 2010. 10 57 PM IST
Glenmark (2.32% up)
Shares of Glenmark Pharmaceuticals Ltd ended 2.32% up after the US Food and Drug Administration (FDA) accepted its new drug application for pain killer Oxycodone hydrochloride capsules. The company told CNBC-TV18 that Oxycodone could be a big opportunity for it.
Cholamandalam DBS (3.48% up)
Shares of Cholamandalam DBS Finance Ltd (CFDL) rose 3.48% and Tube Investment rose 1.4% after Murugappa Group bought DBS’s 37.48% stake in the joint venture at a price of Rs91 per share through Tube Investments. The exit of DBS Bank from CDFL will cost the Murugappa Group Rs376 crore.
Rana Sugars (19.27% up)
Shares of Rana Sugars Ltd surged 19.27% after the company entered into an agreement with Tata Power Co. Ltd for sale of up to 40MW electricity per day during the off-season of its sugar mills. The supply will be at higher rate than to Tata Power’s existing buyers.
Majestic Auto (9.11% up)
The Majestic Auto Ltd stock ended 9.11% up after a CNBC-TV18 analysis pointed that the company will earn Rs13 crore from Hero Honda Motors Ltd’s declared dividend of 4000%. Majestic Auto holds 1.6 million shares of Hero Honda which is valued around Rs320 crore.
KSK Energy (3.57% up)
Shares of KSK Energy Ventures Ltd ended 3.57% up after its 135MW lignite-fired captive power plant in Rajasthan was commissioned and another 270MW in Maharashtra will be commissioned in a week’s time. Brokerages believe that the stock will outperform in the near future.
Ennore Coke (19.95% up)
Shares of Ennore Coke Ltd ended 19.95% on the back of a surge in coking coal prices. The company told CNBC-TV18 it expects coke prices to go up $280-300 per tonne by the second quarter of this year. The firm is also looking to expand through the inorganic route.
Indage Vintners (10% up)
Shares of Indage Vintners Ltd rose 10% after CNBC-TV18 reported that the company’s CDR package has been approved. Secured and unsecured lenders have consented to Indage Vintners CDR package. The total debt obligations have been deferred by approximately two years.
LICHFL (15% up)
Shares of LIC Housing Finance Ltd ended up 1% after brokerages turned bullish on the stock. Kotak maintained an ‘add’ rating on the stock with a target price of Rs925 in the belief that the company is well placed to manage its interest rate spreads.
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First Published: Wed, Mar 31 2010. 10 57 PM IST