Feb 27, 2009

Piramal Healthcare leads gainers in 'A' group

26 Feb 2009 | 16:17 Piramal Healthcare leads gainers in 'A' group

Piramal Healthcare galloped 16.93% to Rs 208.90 on reports French drug major Sanofi-Aventis has emerged as the front-runner to buy a stake in the company at substantial premium over the company's ruling share price. It topped the gainers in BSE's A group. However the company in denied such reports clarifying that the promoter has no intention to dilute current ownership levels.

Bhushan Steel advanced 9.36% to Rs 310.80, extending yesterday's (25 February 2009) 2.36% rise on reports steel firms would soon pass on the benefit of a 2% cut in excise duty announced by government on Tuesday, 24 February 2009, which may boost demand for the commodity. It was the second biggest gainer in A group.

UltraTech Cement Company gained 8.36% to Rs 475.55, extending yesterday's 4.01% surge on reports cement prices are likely to drop by Rs 4 to Rs 5 per 50-kilogram bag which may boost demand for the commodity after the rate of central excise on bulk cement was cut from 10% or Rs 290 per metric tonne (PMT) whichever is higher, to 8% or Rs 230 PMT whichever is higher Tuesday, 24 February 2009. The scrip was the third biggest gainer in A group.

MphasiS flared up 7.31% to Rs 171.70. It was the fourth biggest gainer in A group. A block deal of 4.99 lakh shares or 0.24% equity stake of the company was executed on BSE at Rs 170 per share. The company announces its Q1 January 2009 results tomorrow, 27 February 2009

Tata Motors spurted 7.26% to Rs 150 and after the company said it will launch its Rs 1-lakh car Nano on 23 March 2009. It was the fifth biggest gainer in A group. The Nano will be on display at the Tata Motors dealerships from first week of April 2009 and bookings would start from second week of April 2009. The company made this announcement during trading hours today, 26 February 2009.