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Aditya Birla Nuvo leads gainers in ‘A’ group

Friday, July 13, 2007

Sail, Gujarat Mineral Development Corporation, Ispat Industries and Hindustan Zinc are among the other gainers.

Aditya Birla Nuvo surged 10.91% to Rs 1512.05 and topped the gainers in ‘A’ group. As per reports, the Aditya Birla group is scouting for emerging opportunities in the financial services sector. The group had roped in Prudential Corporation (Asia) chief executive (fund management) to head its financial services portfolio.

Steel Authority of India (Sail) soared 10.49% to Rs 159.60 and stood second among top five gainers in the ‘A’ group. Sail's net profit rose 54.6% to Rs 6,202.29 in the year ended March 2007 as against Rs 4,012.97 crore in FY 2006. Sales moved up 21.8% to Rs 35,026.21 crore (Rs 28,758.56 crore). The company announced the results on 21 May 2007.

Gujarat Mineral Development Corporation spurted 9.19% to Rs 930.75 and was the third among gainers in the ‘A’ group. The company’s net profit soared 198.61% to Rs 105.26 crore in the year ended March 2007 as against Rs 35.25 crore in FY 2006. Sales rose 34.01% to Rs 584.60 crore in FY 2007 (Rs 436.23 crore). The company announced the results on 30 April 2007.

Ispat Industries sprout 8.36% to Rs 16.33 and was fourth among the top gainers in the ‘A’ group. Ispat reported a net loss of Rs 9.53 crore in the year ended March 2007 as against a net loss of Rs 812.67 crore in FY 2006. Sales rose 51.35% to Rs 7,486.57 crore in the FY 2007 (Rs 4946.55 crore). The company had announced the results on 6 June 2007.

Hindustan Zinc jumped 7.99% to Rs 797.95 and was fifth among the top gainers in the ‘A’ group. As per media reports, Hindustan Zinc plans to ramp up its zinc production capacity to 6.71 lakh tonnes by the end of this fiscal (2007-2008), from the current four lakh tonnes.

The increase in production would take place due to the sudden buoyancy in the domestic as well as international markets, giving rise to increase in demand for zinc.

Posted by FR at 7:49 PM  

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