Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls

Nalco (5.89% down)

Shares of National Aluminium Co. (Nalco) fell 5.89% after gaining 15.2% on Tuesday. Macquarie believes that the break-up plan of splitting the company into three verticals, i.e Nalco Aluminum, Nalco Power and Nalco International in the next 24 years is hot air.

Maruti (3.6% down)

The Maruti Suzuki India Ltd stock closed 3.6% down after the company hit FII caution limit. Also, analysts have been bearish on the stock since last week following the aggressive market share target statements from Honda Motor Co. Ltd and Toyota Kirloskar Motors Ltd.

DB Corp (25.4% up)

Shares of DB Corp. Ltd, which owns Hindi daily Dainik Bhaskar, ended 25.4% up at Rs266 against the issue price of Rs212 on the first day of listing. The company management said it will consolidate in existing market before expansion. The company will use Rs110 crore for debt repayment.

NTPC (0.5% down)

The NTPC Ltd stock ended 0.5% down at Rs228 after hitting an intra-day high of Rs235. Officials in the government said the company’s follow-on public offer (FPO) price is likely to be around Rs240-250 per share, as reported by Newswire18. They added that the company’s FPO is likely to hit market in early February.

Electrotherm India (17.3% up)

Shares of Electrotherm India Ltd rose 17.3% following the company’s announcement of an expansion plan worth Rs600 crore. The company said it aims to double its electric bike brand YoBykes sales in 2010-2011 to 40,000. In Auto Expo 2010 the company displayed its first commercial three-wheeler.