Friday, December 23, 2011

Stocks on the move

  • Private shipbuilder Bharati Shipyard’s shares closed up 1.36% after rising as much as 3.6%. Reuters had reported that its lenders plan to restructure $1.5 billion of loans.
  • Monnet Ispat and Energy rose as much as 8.65% to Rs389 after the company’s board decided to buy back shares at a price of up to Rs500 a share. The company said it would spend Rs100 crore for the buyback. The stock ended up 1.5%.
  • Suzlon Energy rose more than 3% after the wind turbine maker got new orders worth Rs935 crore. The stock closed up 1.6%.
  • Shares in construction and infrastructure firm Punj Lloyd rose as much as 4.88% after it said on Thursday it has won two orders -- a $54 million road project in Kenya and an Rs810 million project. The shares closed up 2.13%.