Hot Stocks from Reuters Feb 04

Ispat Industries Ltd and Uttam Galva Steels Ltd are up 3.5-4.5 percent after both the firms on Friday increased steel prices by 2,000 rupees a tonne.

Hindustan Dorr Oliver Ltd extended gains to rise by its daily maximum limit of 10 percent after the civil engineering and construction firm secured a contract worth 820 million rupees to set up a granulation unit. The shares have since eased to 150 rupees, still up 3.1 percent.

* Navneet Publications India Ltd rose sharply after a block deal for 3.4 million shares, or 3.6 percent of equity, for 126 rupees on the BSE. The shares are trading 10 percent higher at 135 rupees.

* Puravankara Projects Ltd was up 17.3 percent at 371.95 rupees after the Economic Times newspaper reported the real estate developer is in advanced talks to raise 20 billion rupees by selling 49 percent in five projects to funds and private equity firms. A company official declined to comment.

* Textile accessory maker Arrow Webtex Ltd rose 5 percent to 62.45 rupees after it entered into a joint venture to develop real estate projects in East Africa.

* Reliance Communications Ltd rose 6.24 percent to 650 rupees after the Economic Times reported that its unit, Reliance Telecom Infrastructure, plans to sell a 10 percent stake through an initial public offer to raise 50-60 billion rupees. Company officials could not be immediately reached for comment.

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