Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls

GMDC (10.38% up)

Gujarat Mineral Development Corp. Ltd (GMDC) gained 10.38% after the company told CNBC-TV18 that the Gujarat government has put the entire mining policy on a fast track and there are no caveats to the policy. The firm expects to double its growth by the end of the next fiscal year.

HDIL (5.24% up)

Shares of Housing Development and Infrastructure Ltd (HDIL) were up 5.24% after getting included in the MSCI index on Monday. The shares of the real estate firm have been underperforming the market and lost around 15% since the date of announcement of its inclusion in the index.

Suzlon Energy (5.94% up)

Suzlon Energy gained 5.94% after the windmill manufacturer was included in the MSCI Index on Monday. Also, the company had seen a few positive announcements in the last few days. Its subsidiary REpower Systems AG had announced a large order on Friday worth around Rs4,800 crore.

CESC (6.9% up)

Shares of CESC, which produces and supplies power in Kolkata, were up 6.9% after Citigroup upgraded the rating for the stock to “buy" and increased the target price to Rs449 from Rs369. The rating was upgraded on positive developments in the firm’s power business and its attractive valuation.

Tata Motors (4.99% up)

The Tata Motors stock gained 4.99% after the company posted a positive Ebitda (earnings before interest, taxes, depreciation and amortization) in the last quarter, thanks to improved sales of Jaguar and Land Rover vehicles.