United Phosphorus leads gainers in 'A' group
Ashok Leyland, Jai Corp, GTL Infrastructure, and Sun TV Networkare among the other gainers.
Agrochemicals maker United Phosphorus spurted 4.44% to Rs 101.15. It topped the gainers in BSE's A group. Agriculture stocks rose after the finance minister reiterated the government's thrust on the agriculture sector. The acting finance minister Pranab Mukherjee, while presenting the interim budget for 2009-10 today, said that the plan allocation for agriculture sector has been increased by 300%. He further said that agriculture credit has also been increased three fold to Rs 2.50 lakh crore.
Commercial vehicle maker Ashok Leyland soared 2.71% to Rs 15.54. It was the second biggest gainer in A group. As per recent reports, the company is targeting more revenues from its non-truck business. Primarily this will mean the growth of its engine business. The company sees it as an option to insulate itself from the cyclical changes in the economy, which have hit commercial vehicle sales now.
Diversified Jai Corp climbed 2.30% to Rs 77.80. It was the third biggest gainer in A group.
Telecom tower firm GTL Infrastructure moved up 1.89% to Rs 32.30. It was the fourth biggest gainer in A group. Earlier this month, the company had unveiled its plans to roll out 25,000 towers in the country by 2012, entailing an investment of $1.8 billion. The company is currently operational in 19 circles and the tower portfolio of the company consists of 8,366 towers at various stages of completion as on December 2008.
South-based television broadcaster Sun TV Network rose 1.69% to Rs 175. It was the fifth biggest gainer in A group.