The Hindu Business Line : Gains ground on China hopes

THE counter of optical fiber cable maker Sterlite Opticals was in the limelight on Wednesday with sharp gains. The stock gained 13.03 per cent at Rs 76.75 on the BSE with volumes of 27.40 lakh shares; on the NSE, it closed at Rs 76.95, up 14.25 per cent, with volumes of 40.38 lakh shares. Dealers said the interest in the stock was due to good prospects for the company. The talk is that the company is doing good business in Chinese market and seven per cent of the revenues is coming from this market alone.

Moreover, the Government plans to come out with a broadband policy would do well for the company as the demand for optical fiber will go up. There are also talks that international price of optical fiber is expected to go up from January 2005.

Better prospects drive it up

THE stock of small-cap pharma company Albert David has been accumulated by market players. The talk is that the company is doing well and in the current fiscal it should report EPS of around Rs 15 compared with an EPS of around Rs 12 last fiscal.

Dealers said the company has strong presence in various drug in therapeutic classes such as immunomodulators, vitamins and others.

The talk is that the company is consolidating its operations and strengthen its marketing wing to meet challenges from domestic and global players. All these are likely to have an impact from the next fiscal.

On Wednesday, the stock gained 1.47 per cent at Rs 82.60 on the BSE with volumes of 20,039 shares.

On broader picture

THE stock of Samtel Color on Wednesday gained 8.91 per cent at Rs 84.35 on the BSE with volumes of 4.34 lakh shares; on the NSE, it closed at Rs 84.15, up 8.09 per cent, with volumes of 12.03 lakh shares.

Dealers said the company had taken expansion plan in the last fiscal and that is fully complete. The impact of this was partially seen in the first two quarters. In the quarter ended September 30, 2004, the company reported an EPS of Rs 3.62; The EPS is expected to be around Rs 12 for the second-half of the current year and around Rs 18 for the full year period.

The talk is that several FIIs have shown interest in the stock over the last few days.

Virendra Verma

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