United Spirits sells treasury stock in two block deals to raise Rs11 billion
Shares of United Spirits Ltd (USL) slipped by 4.18% to Rs879 in early noon trades Tuesday after nearly 12.4 million shares representing about 12.4% equity changed hands in two transactions on the exchanges. United Spirits raised nearly Rs11 billion selling treasury stock, the deal was done with an aim to de-leverage its balance sheet.

Earlier, the company, in a filing to the Bombay...

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Under Pressure

Jain Irrigation and Gas Authority were among the surprising winners in a bleak fortnight

Gainers:
Jain Irrigation Systems has received a contract worth of Rs158 crore to supply mango pulp to Coca-Cola plants for the 2009-10 season. The stock gained 15% on the news. GAIL (India) plans to raise Rs2,000 crore as a part of its new pipeline laying programme across the country. The stock surged...

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Flagging

Ceat Tyres was a stunning winner among momentum stocks in a market where the slide is gathering speed. BEML rose 10% and is worth watching

Gainers: While we had identified Ceat Tyres as a momentum play, it was a surprisingly powerful gainer last fortnight shooting up 22%. Bharat Earth Movers (BEML) posted a growth of 20% and 68% in sales and operating profit, respectively, in March 2009...

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