The Hindu Business Line : De-merger plan lifts Sintex Ind

Dealers said the interest has come after the company's plans to de-merge its textile division into a separate company. The company has already informed its intention to de-merge the textile division with Bharat Vijay Mills or any other company.

Market talk is that after the de-merger, the value of textile division would be unlocked. Dealers said from 2005, when the textile quota is removed, the textile division would show good growth.

Moreover, the stake taken by Warburg Pincus in the company is also expected to add value to the business of the company.

On Wednesday, the stock price of the company gained 7.81 per cent at Rs 341.75 on BSE with volume of 2.43 lakh shares; on the NSE, it closed at Rs 343.50, up 8.84 per cent with volume of 2.67 lakh shares.

Praj gains on good financials

ENGINEERING company Praj Industries gained on Wednesday on expectation of good financial performance of the company for December quarter.

Dealers said the company order book position is full for the next few quarters and it has been showing steady growth of 25 per cent on every quarter. Moreover, the interest of some big investors in the stock is also leading to increased activity in the stock.

On Wednesday, the stock price of the company gained 4.78 per cent at Rs 288.15 on BSE with volumes of 69,548 shares; on the NSE, it closed at Rs 287.60, up 4.62 per cent, with volumes of 1.11 lakh shares.

Exide charged up on buy report

EXIDE Industries, a company into automotive batteries business, gained on Wednesday after a leading broking firm put a buy on the stock.

It gained 5.38 per cent at Rs 166.55 on the BSE with volumes of 1.54 lakh shares; on the NSE, it closed at Rs 166.40, up 5.42 per cent, with volumes of 3.46 lakh shares.

Dealers said the broking firm is bullish on the stock as it feels that the company would be able to show growth of 17-18 per cent in the next couple of years.

Moreover, the company has strong brand, wide range of products and excellent relations with OEMs.

The concern of increase in lead prices, a basic raw material for batteries, is also likely to minimum compared to its competitor.

Virendra Verma

More Stories on : Stock Markets | Ear to the ground

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
MFs gear up for commodity products — Exercise may begin with gold; SBI Mutual submits draft offer

Fund houses rush to meet investor base deadline

Bear domination

As SEBI deadline nears on promoters' holdings — Dabur Pharma witnesses sharp spurt in activity

De-merger plan lifts Sintex Ind

Saregama Ind on song

Price reversal likely in Infosys, Bajaj Auto

Consumer durable, healthcare stocks gain

RPG Retail: Enam, SSKI, UTI in the fray to lead manage IPO

Indoco Remedies fixes IPO price band at Rs 220-245