Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls

Zandu (26.75% down)

Zandu Pharmaceutical Works Ltd declined 26.75%, while that of Emami fell 8.6%. The Calcutta high court had earlier this month approved the scheme of arrangement of de-merger/merger of businesses between Emami, Zandu Pharmaceutical Works and Emami Infrastructure.

Ispat Industries (3.61% up)

Ispat Industries Ltd gained 3.61% on the National Stock Exchange on Tuesday on a CNBC-TV18 exclusive that lenders had given final approval to the company’s Rs6,500 crore debt recast plan. Lenders had also approved the setting up of a coke oven plant in Maharashtra’s Raigad district.

Indage (18.53% up)

Shares of wine maker Indage Vintners Ltd surged 18.53% on CNBC-TV18 exclusive that the company has admitted Rs400 crore of debt to the Corporate Debt Restructuring (CDR) cell as per sources. CDR will help the company to reduce interest rate and reschedule term loans.

Salzer (16.05% up)

Salzer Electronics Ltd ended up 16.05% after L&T Capital Co. Ltd increased its stake in Salzer by 17.15% to 26.06%. But this is not going to trigger any open offer because it has been exempted by the Securities and Exchange Board of India under the takeover code.

Hindustan (5% up)

Shares of Hindustan Composites Ltd gained 5% on reports that Wadhwa group bought an 18-acre plot from the firm for Rs570 crore . Separately, the company clarified that it has taken approval of its shareholders for transfer/sale/lease/ disposal of its Ghatkopar unit.

Aegis Logistics (10.90% up)

The Aegis Logistics Ltd stock ended up 10.90% after the company’s board approved acquisition of 100% of Royal Dutch Shell Plc’s liquefied petroleum gas business in India. The company’s shares closed at Rs206.80 each on the National Stock Exchange on Tuesday.