MARKET HEADLINES - APR 10

Jindal Stainless shines on deal buzz with Posco | [10-Apr-13 09:56 Hrs IST

The stock had underperformed the market over the past one month till 9 April 2013, declining 16.5% compared with the Sensex's 7.4% fall. The scrip had also underperformed the market in past one quarter, sliding 35.24% as against Sensex's 7.32% fall.
The small-cap company has equity capital of Rs 40.82 crore. Face value per share is Rs 2.
Jindal Stainless has reportedly entered into a strategic agreement with Korean steelmaker Posco to help it stabilise production of alloy used in cars and home appliances. Under the agreement, Jindal Stainless will sell stainless steel to be rerolled at Posco's South East Asia units.
Jindal Stainless reported net loss of Rs 257.39 crore in Q3 December 2012, higher than net loss of Rs 110.33 crore in Q3 December 2011. Net sales rose 35.4% to Rs 2576.55 crore in Q3 December 2012 over Q3 December 2011.
Jindal Stainless is engaged in manufacturing stainless steel. The products include stainless steel hot rolled and cold rolled coils, plates and flats, slabs and blooms. These products are used in nuclear plants, thermal power plants, petrochemicals, pharmaceutical, process industry, dairy industry, breweries and many more areas like, railways and coinage.

 

TCS extends Tuesday's gains | [10-Apr-13 09:23 Hrs IST]

Shares of TCS have risen 2.36% in two trading sessions from a recent low of Rs on 1481 on 8 April 2013, after the company during trading hours on Tuesday, 9 April 2013 said it has signed definitive agreements for the acquisition of 100% equity shares in Alti SA, an IT services company in France, in an all-cash transaction valued at euro 75 million. The stock had risen 1.1% to settle at Rs 1497.30 on Tuesday, 9 April 2013.  

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