CapitalMarket.com - Sun TV Network leads gainers in 'A' group
Hot Pursuit Friday, June 08, 2012 16:44 Hrs IST

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Sun TV Network leads gainers in 'A' group

HDIL, Indiabulls Financial Services, Reliance Infrastructure and JSW Energy are among the other gainers.

Sun TV Network surged 9.13% to Rs 257.65, extending four-day 14.56% gain. The stock topped the gainers in the BSE's 'A' group. The stock rose on volume of 6.01 lakh shares, sharply higher than an average daily volume of 78,000 shares in the past two weeks.

HDIL jumped 5.89% to Rs 72.80 and was the second biggest gainer in 'A' group. The realty stock rose in anticipation of interest rate cut by the Reserve Bank of India to prop up slowing economy. Realty shares are interest rate sensitive and hence lower interest rates may help revive demand for properties. Purchases of both residential and commercial property are largely driven by finance.

Indiabulls Financial Services spurted 4.69% to Rs 233.35 and was third biggest gainer in 'A' group. The stock rose on volume of 4.73 lakh shares, higher than an average daily volume of 1.21 lakh shares in the past two weeks.

Reliance Infrastructure advanced 4.02% to Rs 501.90 and was fourth biggest gainer in 'A' group. The infrastructure stock extended Thursday's 3.22% gain triggered as Prime Minister Manmohan Singh set optimistic targets for the major infrastructure sectors for the year ending March 2013 on Wednesday. Manmohan Singh said that the needs of the infrastructure sector are vast estimated at over $1 trillion in the next five years. The government alone cannot invest such huge amounts and therefore it is important that we involve the private sector in our efforts, through Public Private Partnerships (PPP), he added.

JSW Energy gained 3.74% to Rs 47.10, extending five-day 12% advance. It was fifth biggest gainer in 'A' group. The stock rose on volume of 8.24 lakh shares, higher than an average daily volume of 4.63 lakh shares in the past two weeks.

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