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Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls
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First Published: Tue, Nov 03 2009. 09 33 PM IST
Updated: Tue, Nov 03 2009. 09 33 PM IST
Suzlon (12.8% down)
Suzlon Energy Ltd ended down 12.8% after a poor set of results and FY10 guidance reduction. The company reported consolidated revenues of Rs4,793 crore for quarter ended 30 September and net loss of Rs356 crore due to lower volumes. The company’s shares closed at Rs57.90 each on Tuesday.
RCom (5.7% down)
Reliance Communications Ltd (RCom) shares fell 5.7% after the firm reported second quarter net profit at Rs740 crore against Rs1,637 crore in the corresponding period last year after taking into account a forex mark to market loss of Rs283 crore. The company’s shares closed at Rs164.50 each on Tuesday.
Hindalco (10.5% down)
Shares of Hindalco Industries Ltd fell 10.5% after high power costs led to poor results. The firm’s second quarter net sales down 13% at Rs4,892 crore against Rs5,637 crore (estimates: Rs4,695 crore) in the same quarter last year; operating profit stood at Rs584 crore compared with Rs947 crore in the year-ago period.
Indiabulls (20% down)
The Indiabulls Financial Services Ltd share plunged 20% on disappointing results. The company’s second quarter consolidated revenue stood at Rs394.2 crore, compared with Rs641 crore in the corresponding period last year and consolidated net profit slipped to Rs71.1 crore from Rs133.5 crore in the year-ago period.
Educomp (11.1% down)
Educomp Solutions Ltd fell 11.1% after the company announced changes in its Smartclass business model. Educomp will now securitize its receivables from Smartclass schools— Smartclass is half of Educomp’s revenue.
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First Published: Tue, Nov 03 2009. 09 33 PM IST
More Topics: CNBC-TV18 | Hindalco | Suzlon | Educomp | Money Matters |