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Torrent Pharma leads gainers in 'A' group

Friday, June 29, 2007

ABB, LIC Housing Finance, Reliance Energy and GMR Infrastructure are among the other gainers.

Torrent Pharma spurted 6.61% to Rs 257.95 and it topped gainers in BSE's A group shares.

Recently, this Ahmedabad based healthcare major had launched Rimonabant, an anti-obesity molecule, for the first time in India under the brand name Rimoslim. The drug targets multiple cardio-metabolic risk factors, which can lead to obesity, type 2 diabetes or dyslipidaemia.

ABB jumped 5.95% to Rs 1095.30 and came second among top gainers in A group. ABB's net profit jumped 68.87% to Rs 86.63 crore in Q1 March 2007 (Rs 51.30 crore). Sales rose 63.46% to Rs 1312.44 crore in Q1 March 2007 (Rs 802.91 crore). The results were announced on 26 April 2007.

ABB's net profit grew 55.6% to Rs 340.31 crore in the year ended December 2006 (Rs 218.68 crore). Sales rose 44.2% to Rs 4274.01 crore in FY 2006 (Rs 2963.05).

LIC Housing Finance rose 5.95% to Rs 206.40 and stood third in the gainers list from A group. As per media reports, LIC Housing Finance, which is currently testing the venture fund waters by partnering with a couple of venture funds, is evaluating plans to float its own venture fund focusing on the realty sector.

LIC Housing has already invested Rs 50 crore in Kotak Realty Fund and Rs 10 crore in CIG Realty Fund. The proposed new fund would focus on financing projects such as shopping malls and special economic zones.

Reliance Energy added 5.78% to Rs 614.10 and stood fourth among top gainers in A group. REL’s wholly owned subsidiary Rosa Power Supply, on 26 June 2007 tied up long-term loans of around Rs 2,000 crore for the first stage of its 600 meg watt (MW) power project.

GMR Infrastructure rose 5.59% to Rs 747.90 and came fifth among top gainers in A group. The stock rose ahead of its Q4 March 2007 and FY 2007 results which are scheduled tomorrow, 30 June 2007.

Earlier on 5 June 2007, GMR Infrastructure had announced that GMR Energy, the holding company for the GMR Group's energy business and a subsidiary of the company, had signed a memorandum of understanding (MoU) with the government of Chhattisgarh for implementation, operation and maintenance of a 1,000-mega watt (MW) coal-based, thermal power plant in Chhattisgarh.

Posted by FR at 6:03 PM  

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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.