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Arvind Mills leads gainers in 'A' group
Tuesday, July 10, 2007
Ingersoll-Rand (India), GMR Infrastructure, Escorts and CMC are among the other gainers.
Arvind Mills surged 9.80% to Rs 51 and it topped gainers in BSE's A group shares. The Arvind Mills scrip rallied on market talk of the company selling surplus land near Ahmedabad, Gujarat. As per media reports, Reliance Retail is in talks with the company for its Santej land in Ahmedabad. Arvind holds almost 750 acres of land at Santej, located just 20 km away from Ahmedabad city.
Ingersoll-Rand (India) soared 7.11% to Rs 345 and stood second among top gainers in A group. Its net profit jumped 50.13% to Rs 46.48 crore in the year ended March 2007 (Rs 30.96 crore). Sales rose 24.56% to Rs 593.78 crore in FY 2007 (Rs 476.72 crore). The company announced the results on 28 April 2007.
GMR Infrastructure spurted 6.51% to Rs 793.50 and came third among top gainers in A group. The scrip moved up on media reports that the company in consortium with Malaysia Airport Holdings and Turkey's Limak won the rights to build Istanbul's second airport
Escorts gained 6.24% to Rs 121.65 and came fourth among top gainers in 'A' group. On 5 July 2007, Escorts had raised Rs 61.45 crore through the sale of convertible debentures to qualified institutional buyers.
Escorts reported net profit of Rs 6.71 crore in Q2 March 2007 as against net loss of Rs 16.18 crore in Q2 March 2006. Sales jumped 31.7% to Rs 573.64 crore in Q2 March 2007 as against Rs 435.51 crore in Q2 in March 2006. The company announced the results on 26 April 2007.
CMC jumped 5.14% to Rs 1305 and came fifth among top gainers in ‘A’ group. CMC's net profit jumped 45.3% to Rs 64.10 crore in the year ended March 2007 (Rs 44.11 crore). Sales rose 19.3% to Rs 988.91 crore in FY 2007 (Rs 828.79 crore). The company announced the results on 16 April 2007.