Sensex lifeline: high beeps and pratfalls1 min read . Updated: 01 Jun 2010, 12:13 AM IST
Sensex lifeline: high beeps and pratfalls
Punj Lloyd (12.7% down)
Punj Lloyd Ltd was down 12.7% following poor results. The fourth quarter net sales fell by 47% year-on-year from ₹ ,200 crore to ₹ 1,700 crore in the same period last year and were down by 42% quarter-on-quarter from ₹ ,900 crore in the third quarter of last fiscal.
Suzlon Energy (7.8% down)
Suzlon Energy Ltd fell 7.8% after the company missed guidance and reported losses in the fourth quarter of the current fiscal. The company’s consolidated losses were at Rs188 crore against profit at Rs314 crore in the same period the previous year.
JM Financial (20% up)
JM Financial Ltd surged 20% on reports that Mukesh Ambani may buy a controlling stake in the company’s asset management unit. JM Financial denied the report. There were also two block deals of around 18 million shares on the Bombay Stock Exchange at around Rs37 per share.
Gitanjali Gems (19.7% up)
Gitanjali Gems Ltd ended 19.7% up after the company’s net profit increased by 13.4%. On a consolidated basis, net profit increased 32.9% to Rs200.17 crore on a 28.3% rise in net sales to Rs6,527.63 crore in the year ended March 2010 over the year ended March 2009.
Voltas (4.7% up)
Voltas Ltd ended 4.7% up after the company’s results significantly exceeded analyst estimates on better margins and lower effective tax rate. The company also reported robust inflows of Rs1,700 crore led by Rs800 crore Abu Dhabi order.
Kingfisher Airlines (6.6% up)
Kingfisher Airlines Ltd ended 6.6% up after UB Group CFO Ravi Nedungadi said that several firms are keen to buy stake in the company and the firm is planning to raise more than $100 m through a global depositary receipt issue. The company posted a loss of Rs1,647 crore in 2009-10.
Brandhouse Retail (12.6% down)
Brandhouse Retail Ltd fell 12.6% after the company reported loss in the fourth quarter. The company reported a net loss of Rs3 crore against a profit of Rs7 crore in the same quarter last year. Last year, S Kumars Nationwide Ltd had demerged its retail business into Brandhouse Retails.
Reliance Media (4.95% up)
Reliance Media World Ltd ended 4.95% up on the news that the company is entering in a joint venture with CBS Corp. to launch a network of television channels. The firm did not comment on CBS Corp. tie-up and said that it is always looking for the right opportunities.