Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls

Maruti Suzuki (7.14% up)

Shares of Maruti Suzuki India Ltd were up 7.14% on the National Stock Exchange after the car maker said its August sales had increased 8.5% compared with the previous month. On a year-on-year basis, the firm’s sales had increased 41.5% to 84,808 units. The stock ended at Rs1,540.45.

Reliance Com (1.31% up)

The Reliance Communications Ltd share gained 1.31% on reports that the firm prepaid Rs5,000 crore of debt. The telecom company will save Rs2,000 crore over three-five years. The company expects cash balance of Rs7,000 crore after the debt repayment.

NHPC (2.08% up)

The NHPC Ltd share gained 2.08% to close at Rs36.75 on listing day against the issue price of Rs36. The stock listed on the National Stock Exchange at Rs42 on Tuesday. The hydropower producer is an under-leveraged company and return on equity is expected to improve with leverage.

Indiabulls Real Est (5.36% down)

Indiabulls Real Estate declined 5.36% on the Bombay Stock Exchange on reports that the Rs1,400 crore Mumbai Mantralaya makeover project has hit a roadblock. The state government maintains that the final decision will be taken only after the assembly elections.

TVS Motor (3.83% up)

Shares of two-wheeler maker TVS Motor Co. Ltd gained 3.83% after the firm reported sales of 127,000 units in August against 114,000 units a year ago. The company said overall August sales were up 7% compared with the previous month. The firm expect sales to pick up in the October festive season.

Gati (5.67% up)

Gati Ltd shares ended 5.67% higher on the Bombay Stock Exchange. The stock has gained 24% in the last one week. Reports suggest that there is renewed interest in the domestic logistics sector even as the global shipping industry faces a slowdown. The stock closed at Rs57.80 on the BSE.

Sterlite (2.83% down)

Sterlite Industries India Ltd dropped 2.83% after a US bankruptcy judge decided in favour of rival Grupo Mexico’s bid for US mining company Asarco. A US district court has to confirm this development. The stock closed at Rs656.50 on the National Stock Exchange.

Gujarat Fluoro (8.56% up)

Shares of Gujarat Fluorochemicals Ltd ended 8.56% higher after the company reported that it had got 2.3 million carbon credits worth Rs241 crore. The chemical company’s shares were up Rs12.80 apiece to close at Rs162.30 on the National Stock Exchange.