Equity Alert: Neyveli Lignite up 4% on strong Jan-Mar result
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K.Karthik Raja
May 28, 2008, 3:08:41 AM5/28/08
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Equity Alert: Neyveli Lignite up 4% on strong Jan-Mar result
MUMBAI--10:42AM--Shares of Neyveli Lignite Corp were up 4% at
144.45 rupees
as the company posted a 14-fold jump in Jan-Mar net profit from the
previous
year at 3.85 bln rupees, dealers said.
Net sales during the quarter grew nearly 129% to 8.02 bln rupees.
"The stock is moving sideways and has resistance at 150 rupees.
Breaking
that, it can go up to 164 rupees in 10-15 days. Support is at 136
rupees," said
a technical analyst.
So far today, 1.6 mln shares of the company have been traded on
NSE. Its May
futures were trading at par with spot, with a 0.6% fall in open
interest.
MUMBAI--10:42AM--Shares of Neyveli Lignite Corp were up 4% at
144.45 rupees
as the company posted a 14-fold jump in Jan-Mar net profit from the
previous
year at 3.85 bln rupees, dealers said.
Net sales during the quarter grew nearly 129% to 8.02 bln rupees.
"The stock is moving sideways and has resistance at 150 rupees.
Breaking
that, it can go up to 164 rupees in 10-15 days. Support is at 136
rupees," said
a technical analyst.
So far today, 1.6 mln shares of the company have been traded on
NSE. Its May
futures were trading at par with spot, with a 0.6% fall in open
interest.
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