Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls

Voltas (1.5% up)

The shares of Voltas Ltd were up 1.5% after the firm’s management told CNBC-TV18 that the company is looking at acquisitions in the electro-mechanical segment. Saudi Arabia, Qatar and Abu Dhabi are their key focus areas, and they expect substantial bookings from Saudi Arabia next year.

Sintex Industries (4.4% up)

The Sintex Industries Ltd stock gained 4.4% as the firm plans to start manufacturing switchgears this month. Sintex will be making switchgears for the Indian operations of a French electrical firm. Emkay has reiterated its “buy" rating for the stock, with a target price of Rs293.

Kingfisher Airlines (4.8% down)

Shares of Kingfisher Airlines Ltd declined 4.8% as a meeting on foreign direct investment norms for the aviation sector, scheduled for Tuesday, got cancelled. Most aviation stocks have outperformed the key market indices in the recent past.

Aban Offshore (4.4% down)

Shares of Aban Offshore Ltd were up 4.4% for the second day, as the company successfully raised $150million through a qualified institutional placement offer entailing a pre-equity dilution of 13.1%. This will improve the firm’s debt position, which was Rs16,635.40 crore as on 31 March.