Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls

Zee News (20% up)

Shares of Zee News gained 20% after the firm announced that its regional general entertainment channels will be transferred to Zee Entertainment in lieu of its shares. ICICI Securities raised the target price for the stock to Rs60.

Aban Offshore (10.4% down)

Offshore drilling and oilfield services provider Aban Offshore declined 10.4%. The firm’s net profit declined to Rs71.4 crore in the September quarter, against Rs267.8 crore a year ago. Consolidated net sales stood at Rs702.9 crore.

Balrampur Chini (5.4% up)

Shares of Balrampur Chini Mills were up 5.4% after the Uttar Pradesh government allowed sugar mills in the state to sell half of the power produced during lean season privately. Analysts believe the firm will be the biggest beneficiary.

Punj Lloyd (16.5% down)

The Punj Lloyd stock declined 16.5% on the back of poor results. The firm’s September quarter profits declined 63% on account of losses incurred by the UK subsidiary of the engineering and construction firm, Simon Carves.

DLF (5.6% down)

Shares of DLF were down 5.6% after CNBC-TV18 reported that the company had been served a notice by the income-tax department on 30 September to scrutinize assessment year 2007-08.

Thinksoft Global (31.5% up)

Thinksoft Global surged 31.5% on the first day of listing. The firm has raised Rs45.6 crore through an initial public offering. The total volume of the stock traded on the bourses were nearly eight times its issue size.