Shares of power utility
players rallied on Friday after government Data showed electricity generation went up by 14.6% in November 2011 from the same period the previous year. This is against the 5.6% growth in October 2011. Jaiprakash Power spurted 11%. Reliance Power gained 7.7% while GVK Power rose 5%. Stateowned NHPC ended up 4% and NTPC jumped 3.11%.
Shares of Thomas Cook
(India) rose 15.98% to 37.75 on the BSE after
the company clarified that the pledging of shares of the company by its foreign parent will have no impact on the finances or operations of the Indian arm. A few days ago, the promoters of the Indian company — Thomas Cook UK and TCIM — had pledged 77.11% stake with the Royal Bank of Scotland.
Shares of gas distribution companies fell sharply on reports that the government has instructed the petroleum regulator to determine marketing margins for natural gas on the basis of costs. Indraprastha Gas plunged 8.1%, Petronet LNG was down 5% while Gujarat Gas lost 4%. GAIL (India), too, declined 3.2%. Morgan Stanley on Friday downgraded its rating on the entire Indian oil and gas sector.
Shares of Anil Ambani Group companies rose on Friday as traders cut their short positions. Reliance Mediaworks was the top gainer, up 15.89%. Reliance Broadcast network rose 10.24%, while Reliance Power was up 7.66% and Reliance Capital gained 6.73%. Reliance Communications gained 5.9% on a report the company may launch a . 3,000-cr NCD issue to repay a part of its high-cost debt.
No comments:
Post a Comment