PSU shares dominated the list of gainers after the stock market regulator Securities and Exchange Board of India (Sebi) on Tuesday, 3 January 2012, made it easy for the government to quickly tap major institutional investors to sell up to 10% of its stake in listed public sector companies. The government is way short of meeting its target of Rs 40000 crore from share sales in state-run firms this fiscal that ends in March 2012.
State-run trading firm MMTC galloped 17.76% to Rs 729.80, extending Tuesday's 19.41% rally. The stock topped the gainers in the BSE's 'A' group. The stock outperformed the market over the past one month till 3 January 2012, rising 11.08% compared with the Sensex's 5.39% decline. The scrip, however, underperformed the market in past one quarter, falling 2.81% as against 1.31% fall in the Sensex. The stock rose on volume of 5.10 lakh shares, higher than an average daily volume of 83,000 shares in the past two weeks.
State-run copper miner Hindustan Copper jumped 15.27% to Rs 253.25, extending Tuesday's 17.20% surge. As per reports last week, three Chinese firms bagged contracts worth nearly $105 million to help India's only copper miner Hindustan Copper meet a target of boosting its output four-fold from 3.4 million tonne to 12.4 million tonne over the next five years. It was second biggest gainer in 'A' group.
State-run fertilizers maker Rashtriya Chemicals & Fertilizers advanced 12.53% to Rs 54.35. The stock was third biggest gainer in 'A' group. The stock underperformed the market over the past one month till 3 January 2012, falling 16.22% compared with the Sensex's 5.39% decline. The scrip had also underperformed the market in past one quarter, sliding 31.05% as against 1.31% fall in the Sensex.
Liquor maker United Spirits surged 9.39% to Rs 561.20. The stock was fourth biggest gainer in 'A' group. The stock underperformed the market over the past one month till 3 January 2012, falling 28.27% compared with the Sensex's 5.39% decline. The scrip had also underperformed the market in past one quarter, sliding 33.40% as against 1.31% fall in the Sensex. The stock rose on volume of 5.10 lakh shares, higher than an average daily volume of 83,000 shares in the past two weeks.
State-run power generation and supply firm Neyveli Lignite Corporation gained 4.69% to Rs 79.20. The stock was fifth biggest gainer in 'A' group. The stock outperformed the market over the past one month till 3 January 2012, falling 0.53% compared with the Sensex's 5.39% decline. The scrip, however, underperformed the market in past one quarter, falling 2.58% as against 1.31% fall in the Sensex.