Financial Daily from THE HINDU group of publications
Wednesday, Jun 01, 2005
Financial Daily from THE HINDU group of publications Wednesday, Jun 01, 2005 |
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Markets
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Stock Markets Columns - Ear to the ground REI Agro moves up on new biz plans
The stock of REI Agro has been attracting a lot of attention in the bourses. Dealers say that the management of the company has expressed plans for expansion of the business and this is generating interest in the stock. On Tuesday, it closed at Rs 132.50, down from its intra-day high of Rs 133.50, on the BSE against the previous day's close of Rs 131.65. The basmati rice manufacturer is understood to have invested over Rs 100 crore in wind farms. This includes the installation of a 7.5-MW project in Rajasthan and a 12.5-MW plant at Dhulia, Maharashtra. The company also has plans of raising $30 million through the FCCB route. This would go to enhancing the milling and warehousing capabilities of the company, analysts say. The company, which has 20 per cent of the domestic market, is expecting to grow both its domestic and export base, according to analysts.
Kinetic active on pvt placement talk The stock of Kinetic Engineering has been buzzing in the bourses on news of private placement of a part of the share capital of the company. Though the exact details of the placement are not known, speculation is that a large venture capital fund is considering a sizeable investment in the company. The stock has been steadily moving up on the back of this expectation. The stock touched a high of Rs 85.40 on Tuesday before closing trade at Rs. 85.15. The scrip has gained over 22 per cent in the last month. During this period, volumes have also been above average.
Dabur firm on earnings hopes With the resurgence in the FMCG sector, the stock of Dabur India is taking off on a note of bullishness, according to brokers. The company has mostly completed the integration process, especially in the distribution side post the acquisition of Balsara, according to market information. The company is expected to begin optimising revenues from the acquisition from this quarter onwards and the anticipation of better earnings growth is buoying the stock, albeit cautiously, dealers say. The stock touched an intra-day high of Rs 129.25; it had registered its 52-week high of Rs 130.45 on May 27. On the BSE, it closed at Rs 128.50 with 32,401 shares being traded.
Veena Venugopal
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