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Suzlon Energy leads gainers in 'A' group
Wednesday, June 27, 2007
IndusInd Bank, Sobha Developers, Engineers India, Titan Industries are among the other gainers.
Suzlon Energy spurted 6.72% to Rs 1532.70 and it was the top gainer in the A group shares on BSE today.
Suzlon Energy and Vestas India have signed agreements with the Kerala state government for 15 mega watt (MW) wind power project in the state. In the above project, Suzlon has received clearance to produce 4.8-MW wind power. The 4.8-MW project has 8 turbines and will be ready by the end of September 2007.
IndusInd Bank jumped 6.06% to Rs 51.65 and stood second among the top gainers in the A group. On Monday, 25 June 2007, the bank had got a $50-million line of credit from US-based Wachovia Bank N.A. to expand its international business. The bank has an approval from its board to raise up to Rs 400 crore through debt this fiscal year, which began on 1 April 2007.
Sobha Developers advanced 4.69% to Rs 913.15 and was the third highest gainer in the A group. In May 2007, Sobha Developers had forayed into the retail segment with the launch of Sobha Lifestyle. The new retail chain covers product like modular home & office furniture, bed accessories & mattresses.
Engineers India rose 4.34% to Rs 508.55 and was the fourth highest gainer among the top gainers in the A group. The company’s net profit rose 3.14% to Rs 142.99 crore in the year ended March 2007 as against Rs 138.64 crore in FY 2006. Sales declined 27.76% to Rs 571.08 crore in FY 2007 as against Rs 790.48 crore in FY 2006. The company had announced FY 2007 results on 30 May 2007.
Titan Industries jumped 3.92% to Rs 1,329 and stood fifth among the top gainers in the A group. The stock rose for the second consecutive day today. On Tuesday, 26 June 2007, the scrip had soared 8.78% to Rs 1279.
Titan Industries' net profit inched up 7.77% to Rs 101.38 crore in the year ended March 2007 (Rs 94.07 crore). Sales jumped 45.14% to Rs 2090.24 crore in FY 2007 as against Rs 1440.18 crore in FY 2006. The company declared the results on 21 April 2007.




