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GlaxoSmithKline Pharmaceuticals leads gainers in 'A' group

Tuesday, August 7, 2007

GlaxoSmithKline Pharmaceuticals jumped 5.87% to Rs 1,207.20 and topped gainers in BSE's A group shares. The company's net profit rose 5.90% to Rs 96.43 crore on 3.11% decline in sales to Rs 391.50 crore in Q2 June 2007 over Q2 June 2006. The company had announced the results on 26 July 2007.

Housing Development & Infrastructure (HDIL) moved up 5.07% to Rs 525.05. It was second biggest gainer in A group. As per recent media reports, HDIL is planning to form a joint venture to develop a 1.2-million squre feel property at Pune. The company would hold 66% stake in the joint venture.

The Industrial Development Bank of India (IDBI) flared up 5% to Rs 112.30 and came third among the top gainers in A group shares. IDBI's net profit rose 1.69% to Rs 153.12 crore on 31.4% rise in operating income to Rs 2193 crore in Q1 June 2007 over Q1 June 2006. The bank declared results on 18 July 2007.

Suzlon Energy jumped 4.49% to Rs 1249.65. It was fourth bigest gainer in A group shares. Suzlon Energy recently said it had started its first installation and commissioning of wind power projects in Europe.

Punj Lloyd rose 4.16% to Rs 289.25 and came fifth among top gainers in A group. On 6 August 2007, Punj Lloyd announced that it secured a Rs 590-crore contract from Bharat Oman Refineries to build a sulphur block at Bina refinery in Madhya Pradesh.

Posted by FR at 4:10 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.