Stocks on the move - HLL, IVRCL, IOB, Colour Chem

HLL is witnessing hectic buying activity as the stock soared over 9% from the day's low of Rs 206 to touch a high of Rs 225. The buying can be attributed to strong numbers - the Q4 bottomline zoomed 56%, and the full-year net surged 18%. The stock is now up 6.5% at Rs 223 amid huge volumes of around 47.52 lakh shares.

IVRCL Infrastructure zoomed to a new life-time high of Rs 1,096 after the company announced that its order book has shot up by Rs 265 crore in the last one month. However, the stock has now erased most of its gains and now trades marginally higher at Rs 1,006. The counter has clocked a volume of around 32,000 shares.

IOB today approved the proposal to acquire Bharat Overseas Bank. IOB will pay Rs 155/ share to each shareholder of Bharat Overseas. IOB has gained 1.4% at Rs 111 on volumes of around 2.70 lakh shares.

Colour Chem soared to a high of Rs 352 after the company announced the acquisition of Chemtreat Composites. The stock is now up 1.5% at Rs 340, and the counter has seen thin trades of around 5,400 odd shares.

United Phosphorous today announced the acquisition of Netherland-based seed company Advanta. The stock scaled a high of Rs 290, and is now up nearly 4% at Rs 285. Around 2.11 lakh shares have changed hands at the counter.

VSNL spurted to a high of Rs 402 after the company announced the completion of its acquisition of Teleglobe. The stock is now up 1.5% at Rs 395 amid trades of 6.06 lakh shares.

Riddhi Siddi soared to a new high of Rs 215 following the board's approval for rasing Rs 53.82 crore, which includes Rs 42.12 crore preferential issue and issuance of warrants to the tune of Rs 11.70 core, each share priced at Rs 200. The stock has currently eased from the day's high and is now up nearly 2% at Rs 210 on volumes of around 55,200 shares.

The Sensex continues to remain in negative territory, and is now down 38 points at 10,135.