Sensex lifeline: high beeps and pratfalls

Sensex lifeline: high beeps and pratfalls

TCS (5.13% up)

Shares of Tata Consultancy Services Ltd (TCS), the country’s largest software services provider, rose 5.13% a day after Infosys Technologies Ltd, the second largest software exporter, raised its annual sales forecast underscoring a recovery in demand for outsourcing.

Firstsource (5.34% up)

Shares of Firstsource Solutions Ltd were up 5.34% on Wednesday after CNBC-TV18 reported that ICICI Bank Ltd is in talks with private equity firms. ICICI Bank, however, said that it has been continuously evaluating opportunities with regard to investments and cannot comment on speculation.

MSK Projects (10.87% up)

Shares of MSK Projects(India) Ltd rose 10.87% after CNBC-TV18, quoting sources, said that steel pipe maker Welspun Gujarat Stahl Rohren Ltd is in talks to buy stake in the firm. The promoter holding in MSK Projects is 21.7%, while Subhkam Venture, a private equity firm, holds a 24.26% stake.

PTC India (5.88% up)

Shares of power trading firm PTC India Ltd rose 5.88%. On Tuesday, the Central Electricity Regulatory Commission allowed power traders to charge a trade margin of 7 paise per unit if the electricity price is above Rs3 per unit, from an earlier blanket margin of 4 paise a unit.

Nectar (6.49% up)

Shares of Nectar Lifesciences Ltd gained 6.49% on Wednesday on news that the company will issue 26 million preferential shares to NSR Direct PE Mauritius and raise up to Rs250 crore . Chief executive officer Dinesh Dua told CNBC-TV18 that the firm will raise funds by March-April.

Inox Leisure (11.64% up)

Shares of Inox Leisure Ltd surged 11.64% on reports that multiplexes are expected to post good results in the third quarter of fiscal 2010. Inox group seeks to invest Rs500 crore for developing and acquiring around 50 properties across the country in the next five years, a company official said.

Deepak Nitrite (20% up)

Shares of Deepak Nitrite Ltd rose 20% after the company announced the launch of new products in the fuel additives space. In the domestic market, Deepak Nitrite is the only manufacturer for many of these products. The firm sees revenue from this segment to be in the range of Rs75 -100 crore annually.

Murli Industries (16.15% up)

Shares of Murli Industries Ltd rose 16.15% on reports that the company is planning to invest Rs1,100 crore to set up a cement plant in Gujarat. The company is set to commence construction on the plant by June 2010. It will also commission the Jodhpur cement project by June 2012.