The Hindu Business Line : Navin Fluorine International jumps on patent talk

THE Navin Fluorine International stock buzzed with activity at Dalal Street on a number of unconfirmed triggers. The stock jumped by 4.60 per cent on Tuesday on the BSE to finish at Rs 183.

The company, which is focusing on pharma-grade speciality chemicals, is understood have obtained seven patents in the field.

According to market sources, it will spring a surprise in 2004-05 consolidated results reporting (for the first time after separation from Mafatlal Industries) in the form of profits from its 15 million metre denim producing subsidiary. The other interesting play in the counter was the price discount (to market price) that its partly-paid shares were fetching.

The partly-paid shares, which would get a final call for remainder Rs 30 after September, were traded at Rs 133.

Navin Flourine, is also attractive fundamentally on account of its debt-free status.

Honda Siel Power Products betting on new product hopes

The Honda Siel Power Products stock valuation is being stepped up on the bourses as the genset manufacturer is said to be launching two-three new products very shortly.

The Street sources also talked about the possibility of the Japanese promoter Honda making the Indian outfit the group's manufacturing base for a number of models.

According to dealers, sharp growth possibility in export earnings and profitability are prompting a section of investors to take serious look at the counter for a long-term play.

The stock on Tuesday moved up to Rs 160, up 4 per cent.

Bhagheeratha Engineering gains on stake sale plans

THE Bhagheeratha Engineering counter was up by about seven per cent on Tuesday to close at Rs 32.50 as the market sensed that its strategic stake sale proposal was at an advanced stage of negotiation.

The pricing, according to sources, would be key clue for the market for revaluation of the stock. The Rs 50 book value stock is expected to fetch higher price from the strategic investors. According to corporate sources, negotiations are currently on with more than one prospective investors including one global group.

Though the existing promoters are looking at a total cash flow of around Rs 20 crore, the stake size and the premium are the deal's bargaining point.

The Rs 7-crore paid-up capital company, according to sources close to the management, has an order book of Rs 700 crore.

Jayanta Mallick

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