The Hindu Business Line : Atlas Copco gains on open offer talk

THE shares of multinational company Atlas Copco have been slowly rising in the last few weeks from around Rs 550 levels in the beginning of August to around Rs 675.

On Thursday, the stock gained 2.38 per cent at Rs 673 on the BSE with volumes of 1,289 shares.

Dealers said the rise in the stock price is due to the possible open offer by the parent of the company Atlas Copco AB (Sweden). Currently, the parent holds 83.77 per cent stake in the company.

Talk is that the open offer is likely to be in the price-band of Rs 700-900 a share. The previous open offer by the Swedish multinational was in early 2003 at Rs 243 a share. Talk is that the offer would be to delist the securities from the stock exchanges.

D-Link on good network

D-LINK, a leading player in hardware and networking business, gained on Thursday as fresh buying in the counter was seen. The stock gained 7.01 per cent at Rs 111.45 on the BSE with volumes of 6.32 lakh shares; on the NSE, it closed at Rs 111.95, up 7.49 per cent with volumes of 11.96 lakh shares.

Dealers said the rise in the stock price was due to several orders the company is likely to receive for networking. These orders are expected from telecom companies and banks.

Another reason for the rise in the stock price was large selling from an FII was completed on Wednesday and fresh buying from other investors has come in.

Rallies on order hopes

ALPHAGEO, a company engaged in the business of seismic surveys for oil exploration, is attracting a lot of market attention. On Thursday also the stock attracted increased buying. It gained 17.52 per cent at Rs 53.65 on the BSE with volumes of 3.44 lakh shares.

Dealers said the rise in the stock price is on market expectation of several orders the company is likely to receive from oil & gas companies. One of the biggest growth potentials for the company, according to dealers, is order from Reliance Industries for its gas exploration in Krishna Godavari basin.

Other than this, the company is getting orders from various oil companies and this has kept the growth of the company.

Virendra Verma

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