Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls

Infosys (3.68% up)

Shares of Infosys rose 3.68% after its strong dollar topline guidance reinforced confidence on volume momentum for the market. Its dollar topline guidance is at 16-18% year-on-year (YoY) growth and profit after tax growth is at 4.3-8.6% YoY (as against the market expectation of 5%).

Hero Honda (5.22% down)

Shares of Hero Honda dropped 5.22% to Rs110. It had declared a silver jubilee special dividend at 4000%, i.e. Rs80 per equity share of Rs2 each. The company fixed 15 April 2010 as the record date for ascertaining the entitlement of members for payment of the dividend.

Bajaj Auto (1.15% up)

Bajaj Auto stock gained 1.15% after the automobile firm launched two new 3-wheeler passenger vehicles priced between Rs97,000 and Rs1 lakh. The company aims to sell 400,000 three-wheelers in FY11 and expects exports of the vehicle to grow by 15% in the same fiscal.

Ramco Sysytems (17.29% up)

Shares of Ramco Systems surged 17.29% after it started offering IP3 framework (infrastructure, product, process and people) services. It plans to expand into the African and West Asian markets in 2010-11 and plans to enter domains such as healthcare and education.

Mastek (6.73% down)

Shares of Mastek fell 6.73% after the firm reported Q3 consolidated net sales at Rs170.3 crore, from Rs190.9 cr in the year-ago period. Consolidated net profit fell to Rs15.3 crore from Rs23.5 crore in the same period. Net profit was lower due to a higher tax rate this quarter against negative tax rate last quarter.

Gabriel India (6.11% up)

The Gabriel India stock gained 6.11% on news that Asia Investments, a promoter group company, increased its holding to 48.43% from 43.43% after acquiring more than 3.59 million shares representing 5% in the company through inter-se transfer on 8 April 2010.

Natco Pharma (10.4% up)

Shares of Natco Pharma jumped 10.4% on news that the firm plans to launch Albupax, a breast cancer drug, within a month. It had recently launched a generic version of bendamustine, a drug used in the treatment of cancer of the soft tissue inside bones.

Suven Life (5.02% up)

Shares of Suven Life rose 5.02% after the company secured a product patent from the Japanese patent office for one of its new chemical entity to treat disorders of the central nervous system, also known as neurodegenerative diseases.