Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls

ITI (11.18% up)

Shares of ITI Ltd ends up 11.18% after the government says that the telecom department is preparing for a revival package for the company. The Cabinet has also okayed extending the firm’s 30% quota in Bharat Sanchar Nigam Ltd, Mahanagar Telephone Nigam Ltd orders.

Jet Airways (25% up)

Jet Airways (India) Ltd ended up 2.5% after the Cabinet Committee on Economic Affairs approved the firm’s proposal to raise $400 million from qualified institutional placement. The proposal has been struggling for more than three months since civil aviation objected to likely breaching of FDI in the firm.

LML (11.61% up)

Shares of LML Ltd ended up 11.61% on Thursday on CNBC-TV18 exclusive that Piaggio and C. SpA has initiated trademark infringement action against the company as per LML Italia sources. This is in reference with a case for unauthorized use of Piaggio’s trademarks.

Radico Khaitan (3.50% up)

Radico Khaitan Ltd surged 3.50% after a CNBC-TV18 exclusive that a joint venture of the firm with Diageo has received Foreign Investment Promotion Board’s nod for 100% foreign direct investment. The firm’s shares closed at Rs116.35 on the National Stock Exchange on Thursday.

Great Offshore (15.34% up)

Great Offshore Ltd ended up 15.34% on news that Bharati Shipyard Ltd will come with another 20% open offer for management control. Bharati Shipyard was able to get additional 20% stake in the first open offer as few shares were tendered, taking the total stake to around 43%.

Godawari Power (5.19% up)

Godawari Power and Ispat Ltd ended up 5.19% on reports that the company has embarked upon backward integration programme with 0.6 million tonnes per annum pelletization plant, 14 million tonnes captive iron ore mines and setting up additional 20MW captive power plant.

Shriram Transport (6.8% up)

Shares of Shriram Transport Finance Co. Ltd ended up 6.8% after the company acquired GE’s transport financial services business for 1,200 crore. The company told CNBC-TV18 that the acquisitions will help to improve net interest margins and add to the profit going forward.

Gammon (2.65% up)

Shares of Gammon Infrastructure Projects Ltd gained 2.65% on Thursday on reports that the company will start tolling on a part of its 100 km highway stretch on national highway (NH)-3, between Mumbai and Nashik, by the end of this month.