The Hindu Business Line : Titan ticking ahead on placement talk

THE stock of Titan Industries has had a good run this week. It closed on Friday with a gain of Rs 15.85, at Rs 223.75. On Thursday, the stock had touched its 52-week high of Rs 234.80.

Market rumour revolves around a possible private placement of a part of the company's shares.

Market talk is that this placement is likely to be to a foreign investor. There is no clarity whether this would be routed through the stock exchange or by issue of fresh shares.

The stock has seen very high volumes during this week's trading. Over 7.8 lakh shares were traded on the BSE on Friday.

On the NSE, the stock zoomed 7.61 per cent with over 20 lakh shares traded. Trading on the scrip was volatile with intra-day lows being Rs 207.10 on the BSE and Rs 205 on the NSE.

Kale flies high on customer hopes

Shares of Kale Consultants have been on the rise at the bourses over the last couple of days. The stock has risen from Rs 58 on Wednesday to Rs 71.55 on Friday, an appreciation of over 23 per cent in three days' trade.

The company, a provider of software products and outsourced services to the aviation and travel industry globally, recently announced that Oman Aviation Services has selected Kale MPS (Managed Process Services) for providing Revenue Recovery Services on an outsourced basis.

Market talk is that more key customer acquisition announcements could be made by Kale soon. Market participants expect the company to post strong results because of these new customer acquisitions.

Gujarat NRE gains on funds support

The stock of Gujarat NRE Coke has been blazing the bourses. The stock hit the upper circuit on Friday at Rs 142.50. The stock, which had a substantial run up earlier this month, had seen corrections on Wednesday.

Subsequently, it has been clawing back. The board of the company is meeting on February 12 to allot bonus issue.

The market has also been enthusiastic about the stock since the announcement of an alliance with an Australian company. Analysts have been revising upwards the revenue and profit expectations from the company. The target price for the stock has also been raised upwards by several broking houses.

Foreign institutional investors are looking to increase their holding in the company. Currently, 5.29 per cent of the company's shares are in FIIs' hands.

On the BSE, the stock clocked a volume of 18.69 lakh shares valued at Rs 26.3 crore; on the NSE, it registered a total turnover of Rs 38.39 crore.

Veena Venugopal

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