Dalal Street Spikes - GVK gains on debut

GVK Power began trading at Rs 350 - a premium of 12.9% to the issue price of Rs 310. The stock moved between a high of Rs 400 and low of Rs 305, and is currently trading at Rs 319. The counter has seen trades of around 74.76 lakh shares.

The consortium of Larsen & Toubro and Frankfurt-based Lurgi AG has bagged a $345 million order from Petronas out of which L&T's share is pegged at $198 million. The stock moved up to a high fo Rs 2,390, but has now pared gains and is up marginally at Rs 2,349. The counter has clocked a volume of around 1.52 lakh shares.

Punj Lloyd surged to a high of Rs 1,110 backed by the news that the company has secured a fresh Rs 86 crore order. The stock is now up 1.5% at Rs 1,097, and around 37,000 shares have changed hands at the counter.

Praj Industries has formed a strategic alliance with Aker Kvaerner of Netherlands. The stock raced to a high of Rs 105, and is now up 3.8% at Rs 103 with a volume of around 1.54 lakh shares.

HCL Technologies rallied to a high of Rs 622 following the company's announcement of a unique royalty method with Cisco. The stock has now pared almost all gains, and is trading at Rs 611 with a volume of around 13,700 shares.

The Sensex is now up 70 points at 10,271.