BackSensex lifeline: high beeps and pratfalls
Sensex lifeline: high beeps and pratfalls
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HCL (5.9% up)
Shares of HCL Technologies Ltd rose 5.93% on the National Stock Exchange after the firm reported a net profit of Rs330 crore in the fourth quarter, higher than the market expectations of Rs230 crore. The company said that “the pricing environment is still tough, and the worse is not behind us".
Tata Motors (6.8% up)
Shares of Tata Motors Ltd gained 6.86% on the National Stock Exchange on Tuesday after financial services firm Credit Suisse upgraded the stock to “outperform" from ‘neutral’ with a target price of Rs676. The company sees signs of recovery in India, its chairman Ratan Tata said in Mumbai.
Indiabulls (3.3% up)
The Indiabulls Real Estate Ltd stock rose 3.29% on the Bombay Stock Exchange on Tuesday after CNBC-TV18 reported that Indiabulls Power, a group firm, plans to sell stake to four strategic investors, including State Bank of India and Axis Bank, prior to its initial public offer.
Garware Offshore (5.02% up)
Shares of Garware offshore Services Ltd, rose 5.02% on Tuesday after the company said it chartered a accommodation-work barge at $30,000 per day for 70 days. The firm had in February said it would invest around $96 million over the next 18 months to add three ships to its fleet.
Aptech (16% up)
Shares of Aptech Ltd, a global learning solutions company, gained 16.11% on the National Stock Exchange on Tuesday on reports that the firm had filed a petition with the US Securities and Exchange Commission for an initial public offering for its subsidiary in China.
SpiceJet (15% up)
Shares of SpiceJet Ltd gained 14.59% on the Bombay Stock Exchange on Tuesday after the company told CNBC-TV18 that airlines need to increase fares if crude prices rise further. The firm expects load factor to improve despite higher fares, but says the environment for aviation remains challenging.
Suven (20% up)
Shares of Suven Life Sciences Ltd gained 20% on the National Stock Exchange on Tuesday. The Indian drug maker said four global pharmaceutical companies have shown interest in out-licensing deals for its SUVN-502, which is being developed to treat Alzheimer’s disease.
Madhucon (11%)
Shares of Madhucon Projects Ltd gained 11% on the National Stock Exchange on Tuesday. The company said it is looking to raise around Rs500 crore for its subsidiary Madhucon Infra Ltd. The firm is also looking to ramp up power capacity to 1,000MW from 540MW.
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