Top Gainers and Losers

HDFC gained today after the leading home loan lender said that it is expecting a 22-25 % growth in its loan disbursals this fiscal. In the first-half of this fiscal (H1 FY 10), HDFC has clocked a 26 per cent growth in its loan disbursals.

National Mineral Development Corporation (NMDC), and Steel Authority of India Limited (SAIL) signed an Memorandum of Understanding (MoU) to develop a limestone project at Arki in Himachal Pradesh SAIL is planning to set up a 12 million plant in Jharkhand and the company recently in principle approval for renewing mining lease for 810 million tonnes of iron ore reserves at its mines in Jharkhand from the state government. The company is also looking to acquiring licenses for coking coal mines abroad and is in talks with companies in Australia, New Zealand, Mozambique, the US and Indonesia. Also government is divesting its 10 % stake in SAIL while the company will also make as big a follow-on public offer (FPO) of fresh equity.

JP Associates continues to gain on its plan to sell 5% stake in its subsidiary Jaypee Infratech that owns large tracts of real estate besides operations of Yamuna Expressway which will open next year bringing toll revenues to the firm.

Reports say that M&M is in talks with Tamil Nadu government for establishing an integrated auto facility in the state. Even though it has exactly been a month since the festive season got over but demand for new cars and bikes has not slowed down. Automobile manufacturers are also getting a boost from the export front

Recently Hindalco Industries announced that they are planning to raise Rs 2900 crore through QIP/private placement/global depository receipts or any other securities in the near future to fund its expansion plans

Tata steel gained after the company issued $546.9 million in new convertible bonds in exchange for $493 million of securities as part of a plan to reduce costs and ease repayment obligations.