The Hindu Business Line : Sees value in investments

UB HOLDINGS, the de-merged company from UB and which holds investment in various companies, has been attracting buyers' interest in the last few days.

The stock price of the company has gained 30 per cent in the last four trading sessions. On Wednesday, the stock gained 9.02 per cent at Rs 47.15 on the BSE with volumes of 91,170 shares. Dealers said the interest in the stock is due to its holding of shares in companies such as UB, McDowell, Aventis Pharma and Bayer Crop Sciences.

The talk is that company has large real estate in Bangalore and that can fetch good amount for it. The company is planning to offload some of its holdings to unlock value, dealers said.

Tirumalai Chem gains on price rise

THIRUMALAI Chemicals, engaged in specialty chemicals, is being accumulated over the last few days.

Dealers said the accumulation is due to the rise in the price of various chemicals, which the company manufactures. Dealers said the price of maleic anhydride has increased from Rs 78 per kg in July to Rs 118 per kg by middle of October. The price of another chemical phthalic anhydride has increased from Rs 49 to Rs 69 per kg during the same period.

Dealers said after reporting good first-quarter results in the current fiscal, the second quarter is also likely to be good. The talk is that the price of these chemicals is expected to remain firm in the remaining part of current fiscal.

On Wednesday, the stock price of the company gained 1.99 per cent at Rs 113 on BSE with volumes of 25,995 shares; on the NSE, it closed at Rs 112.05, up 2.28 per cent, with volumes of 45,107 shares.

Mid-caps seen favourites

MID-CAP cement companies' share prices remained firm even when most of the bigger cement companiesremained weak.

Dealers said this was mainly due to the restructuring in several companies. Moreover, the valuation of some of these companies is attractive even at current prices.

The stocks to rise on Wednesday included Mysore Cement (up 2.84 per cent at Rs 15.23 on BSE), Kaktiya Cement (up 5.61 per cent at Rs 84.65), Birla Corp (up 1.14 per cent at Rs 137), Prism Cement (up 3.8 per cent at Rs 13.12) and Century Textiles (up 2.41 per cent at Rs 152.75).

But dealers said the buying in these stocks was more of liquidity driven rather than fundamentals of the companies.

Virendra Verma

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