Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls

Mahindra (10.02% up)

Shares of Mahindra Forgings Ltd gained 10.02% on Tuesday after Mahindra Systech told investors that it is looking to consolidate Mahindra Composites, Mahindra castings, Mahindra gears, Mahindra Ugine and Mahindra forgings under one company.

Gammon (6.82% up)

Gammon Infrastructure Projects Ltd ended up 6.82% after the firm agreed to acquire 24% stake in Indira Container Terminal Pvt. Ltd (ICTPL) from Spain’s Dragados Servicios Portuarios y Logisticos S.L. The firm said it intends to hike stake in ICTPL to 50% in three years.

NHPC (4.03% up)

Shares of state-run hydel utility NHPC Ltd rose 4.03% after the Central Electricity Regulatory Commission raised provision tariff of the 390MW Dulhasti hydroelectric project from Rs497 crore to Rs840 crore. This implies an additional Rs343 crore profit before tax for NHPC.

Orchid Chemicals (3.98% up)

Orchid Chemicals and Pharmaceuticals Ltd, which manufactures and sells active pharmaceuticals ingredients and finished dosage forms (formulations) in export and domestic markets, gained 3.98% amid market talks that it is looking to sell one of its units. However, the firm denied this.

Manaksia (10.02% up)

The Manaksia Ltd stock ended up 10.02% on Tuesday after the company said it expects FY10 earnings per share to be around Rs15-16. Managing director Basant Kumar told CNBC-TV18 that the promoters of the firm have picked up less than 1% stake from the open market.

Ansal Properties (12.60% up)

Ansal Properties and Infrastructure Ltd surged 12.60% on Tuesday as the real estate company gets ready to unveil a new 120 acre township in Gurgaon, Haryana. The firm is also planning to launch a industrial special economic zone in Sonepat district of Haryana.

Rain Commodities (12.56% up)

Rain Commodities Ltd ended up 12.56% after 8.7% stake changed hands on the Bombay Stock Exchange on Tuesday. Citicorp Finance (India) Ltd is likely to be the seller. Rain commodities is a holding company with strategic investments in other companies.

NDTV (3.38% up)

New Delhi Television Ltd (NDTV) gained 3.38% after the company sold 76% of NDTV Imagine to Turner Asia Pacific Ventures for $117 million (around Rs546 crore). Prior to the issuance of primary shares to Turner, NDTV Networks Plc will retain a stake of 5% in Imagine.