Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls

WWIL (5.8% up)

Wire and Wireless India Ltd (WWIL) ended at a three-month high. The buzz is that the company is close to finalizing the date for its Rs449 crore rights issue. The firm has already completed book closure on 19 August and had approved a rights issue of Rs23.7 crore at Rs19 per share.

Gujarat NRE Coke (8.85% up)

Gujarat NRE Coke gained 8.85% after the board approved the raising of $60 million via FCCBs. The management told CNBC-TV18 that FCCB has been capped at $60 million and the exact quantum has not yet been decided. The DVR issue has been scrapped.

Kingfisher Airlines (5.7% up)

Kingfisher Airlines ended up 5.7% on strong build-up in the futures and options space. The stock was build-up of 5.3 mn shares in October series with 80% rollover, which is unusual for an airline stock. Vijay Mallya told CNBC-TV18 that the firm will do rights and GDR issue by the year-end.

HDFC Bank (3.72% up)

The stock gained on a Kotak Institution report that the bank is leveraged for growth, but valuations appear expensive. HDFC Bank management highlighted the intention to outperform banking sector credit growth. Corporate loans, mortgages segments are likely to drive growth.

Godawari Power (9.83% up)

The stock gained 9.83% on market buzz of commissioning of its long-pending iron-ore mines and pelletization plant in current fiscal, along with the surge in spot iron-ore prices. The company at present has 50MW of power capacity, coal mines with reserves of 63 mt, iron ore mines and 0.4 mt of sponge iron and steel.