Dalal Street Spikes: RCoVL hogs limelight

Reliance Communication Ventures (RCoVL) is attracting all attention on Dalal Street today. The stock listed at Rs 290, and soon rallied to a high of Rs 309. After dropping to a low of Rs 277, the stock is now consolidating and trading at Rs 286. RCoVL has clocked a huge volume of around 1.50 crore shares.

Dr.Reddy's completed the acquisition of Germany-based betapharma yesterday. Further, the company is planning to acquire more firms with a focus on the US, Italy, Spain, France and Indian markets. The stock spurted to a high of Rs 1,359, and is now up nearly 2% at Rs 1,335. Around 90,000 shares have changed hands at the counter.

Havells India has secured a potential $10 million export order from Eaton Electrical Group. The stock touched a high of Rs 487, and is now up 5% at Rs 479. The counter has seen trades of around 31,600 shares.

Aurobindo Pharma today recevied its first product approval in Canada. The stock spurted to a high of Rs 598, and is now marginally up at Rs 590 on trades of around 31,700 shares.

Sunshield Chemicals board today approved 1:1 rights issue. The price was not known, but the company intends to use the proceeds from the issue to fund its expansion & diversification plan which is estimated to cost of Rs 30 crore. The stock is locked at the 5% upper limit at Rs 68 on a volume of around 4,000 odd shares with pending buy orders for nearly 2,000 shares.

The Sensex touched a new peak at 10,726, and is now up 109 points at 10,704.