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THE stock of Carborundum Universal, a company into manufacturing of abrasives, has been in accumulation mode. On Friday also, there was active buying in the counter. The stock gained 7.15 per cent at Rs 144.65 on the BSE with volumes of one lakh shares; on the NSE, it closed at Rs 144.95, up 7.97 per cent, with volumes of 2.10 lakh shares.

Dealers said the interest is ahead of the stock going ex-bonus and dividend. The company has announced a bonus of one share for every one share. It has also announced 100 per cent dividend on Rs 2 face value share.

The talk is that the company's abrasive business is also doing well and this would also help in reporting good financial performance in the current fiscal.

De-merger bodes well

EVEREADY Industries, which recently de-merged its tea business into a separate company, saw heavy volumes along with rise in stock price on Friday.

This is due to the company now being seen more as a battery company in which it has good market share. Moreover, the branded tea business has also remained with this company.

Its bulk tea business company will be listed later.

The talk is that several funds have shown interest in the company following the de-merger. Some funds that have a liking for FMCG stocks are understood to have started buying the shares .

On Friday, the stock gained 8.62 per cent at Rs 99.55 on the BSE with volumes of 49.61 lakh shares; on the NSE, it closed at Rs 99, up 8.20 per cent, with volumes of 1.17 crore shares.

Betting on Kyoto Protocol

THE stock of Chemplast Sanmar, a company into PVC and chloro chemicals, was locked in 20 per cent upper circuit on Friday. The stock closed at Rs 61.10 on the BSE with volumes of 1.43 lakh shares; on the NSE, it closed at Rs 61.35 with volumes of 3.14 lakh shares.

Dealers said the interest in the stock has emerged on expectation that the company could benefit in monetary terms for reducing the pollution as per Kyoto Protocol. The company has undertaken an initiative for reducing the discharge to zero from its various businesses. It has already achieved this landmark in some of the businesses.

Dealers said this initiative should benefit the company as per the Kyoto Protocol, but the exact financial benefit out of it was not known.

Virendra Verma

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