Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls

Tata Motors (6.6% up)

Shares of Tata Motors Ltd ended up 6.6% on the National Stock Exchange on Tuesday. The company said it expects to tie up £340 million long-term loan from the European Investment Bank for its UK-based Jaguar Land Rover unit, without guarantees from the British government.

Natco Pharma (18.4% up)

The Natco Pharma Ltd stock soared 18.4% on Tuesday. Investment analyst Ashish Chugh told CNBC-TV18 that the company has a land bank of 300 acres near the Hyderabad airport in Andhra Pradesh and the market value of this land is expected to be more than company’s market cap.

Ranbaxy (5.5% up)

Shares of Ranbaxy Laboratories Ltd rose 5.5% on Tuesday. The drug company produces oseltamivir, sold under the brand name Tamiflu that is used to treat H1N1 flu, and can provide close to a million capsules in the next few weeks to the domestic market, its president Ramesh Adige said in a statement.

Glenmark (4.8% down)

Shares of Glenmark Pharmaceuticals Ltd declined 4.8% after Forest Laboratories Inc made an upfront payment of $100 million to Nycomed for chronic bronchitis drug, Roflumilast. Forest Labs had earlier licenced Oglemilast, a drug to treat asthma, from Glenmark and paid $45 million for the same.

Aban Offshore (4.2% up)

Shares of Aban Offshore Ltd, a drilling and oil services company, were up 4.2% on the National Stock Exchange on Tuesday after BNP Paribas said that the market for jack-up rigs shows signs of increasing activity. Aban had won a two-year contract for its jack-up rig from Pemex at $126,000 a day.

Zee Entertainment (5.4% down)

Shares of Zee Entertainment Enterprises Ltd declined 5.35% on the National Stock Exchange on Tuesday. Kotak Institutional Equities, in a report released on Tuesday, said that poor monsoon in Hindi-speaking areas may have a significant impact on Hindi broadcasters such as Zee.

HDIL (4.5% up)

Housing Development and Infrastructure Ltd (HDIL), a real estate development company, ended up 4.5% on reports that the company has got approval for a new redevelopment project in Kandivali (suburban Mumbai) and is close to finalizing the details of the same.

FCS Software (16.3% up)

FCS Software Solutions Ltd, provider of information technology (IT) and IT-enabled services, jumped 16.3% to close at Rs51.15 on news that the board meeting will be held on Tuesday to consider stock split and fund raising plans. The scrip touched an intraday high of Rs52.80.