Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls

IDFC (9.09% up)

Shares of IDFC Ltd were up 9.09% on news that the Nifty will add the scrip to the Nifty 50 from 20 October. IDFC will have a free-float weightage of 1.33% and will be ranked 21.

RCom (6.83% up)

Reliance Communication rose 6.83% after UBS told CNBC-TV18 that the share is due for a re-rating on the back of Reliance Infratel recently filing a draft red herring prospectus for an initial public offering.

JP Associates (5.88% up)

The JP Associates Ltd share was up 5.88% as the firm also made it to the Nifty 50 and will be listed from 20 October. JP Associates has been a part of Sensex and is a large-cap firm with a market cap of around Rs30,000 crore.

Ispat Industries (5.68% up)

Shares of Ispat Industries Ltd were up 5.68% in line with other steel stocks as a rub-off impact of Uttam Galva-ArcelorMittal deal was seen across the sector. The firm added 1.1 crore shares in open interest.

Amtek Auto (8.27% up)

Amtek Auto Ltd closed with a gain of 8.27% after the company’s board finalized a $175 million fund-raising plans via foreign currency convertible bond issue. The firm is also planning to increase its non-auto business.

Uttam Galva (10% up)

Shares of Uttam Galva Steels Ltd ended at its 10% upper circuit of Rs125. The timeline for ArcelorMittal’s open offer was also announced. It will be made at Rs120 a share for a 29.4% stake in Uttam Galva.

Mid-Day (5.09% up)

Shares of Mid-Day Multimedia Ltd were up 5.09%. CNBC-TV18 learns the firm is in the process of raising $10 million and talks are at an advanced stage. The firm will use funds for both print and radio business.

NHPC (1.84% down)

The NHPC Ltd share was down 1.84% after a leading institutional broker said the stock could drift to the Rs18 mark. The stock had a disappointing listing after it was subscribed many times over.