Saturday, November 22, 2008

Power Utility Reliance Soared Snapping Of Sessions - Nov 22, 2008

Power utility Reliance Infrastructure soared 14.07% to Rs 485.20, snapping losses of seven consecutive sessions. It was the top gainer in BSE's A group. The stock shed 31.63% in seven successive sessions to Rs 425.35 on 20 November 2008 from Rs 622.20 on 10 November 2008.India's second largest listed telecom service provider by sales Reliance Communication spurted 13.64% to Rs 207.10. It was the second biggest gainer in A group.

Diversified infrastucture developer GVK Power & Infrastructure flared up 13.28% to Rs 14.67 after a group firm was awarded seven deep-water blocks in consortium with BHP Billiton Petroleum International. It was the third biggest gainer in A group. The Cabinet Committee on Economic Affairs yesterday, 20 November 2008, gave the go ahead for awarding 44 oil and gas exploration blocks under the New Exploration Licensing Policy.

Construction and engineering firm IVRCL Infrastructure & Projects moved up 12.18% to Rs 131.75. It was the fourth biggest gainer in A group.Newspaper publisher Deccan Chronicle Holdings rose 11.75% to Rs 44.70. It was the fifth biggest gainer in A group.

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