Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Wed, Oct 21 2009. 09 15 PM IST
Updated: Wed, Oct 21 2009. 09 15 PM IST
Sesa Goa (8% down)
Shares of Sesa Goa Ltd, India’s biggest iron- ore exporter, declined 8% on Wednesday. The firm’s September quarter profit after tax fell 55% short of analysts’ estimates. Kotak Institution has downgraded the stock to ‘reduce’ with a revised target price of Rs265.
Polaris (16.5% up)
Shares of Polaris Software Lab surged 16.5% on the National Stock Exchange on Wednesday on the back of strong results in the September quarter. The information technology firm said on Tuesday that its consolidated profit after tax rose by 2.23% to Rs35.19 crore for the quarter.
TTK Prestige (3.3% up)
The TTK Prestige stock was up 3.3% after the firm said the pressure cooker segment has been growing at 15%, against market growth of 5%. The company expects 2009-10 revenues to be around Rs480-500 crore. It will launch three new products in the first quarter of 2010.
Oil Country (13.1% up)
Oil Country Tubular gained 13.1% on the back of strong September quarter results. The firm’s net profit was up 36% to Rs24.2 crore in the quarter, against Rs17.8 crore a year ago. Its net sales were up 49.3% to Rs126.9 crore in the quarter, against Rs85 crore a year ago.
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First Published: Wed, Oct 21 2009. 09 15 PM IST
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