The Hindu Business Line : UB Holdings flying high on plane tales

THE counter of UB Holdings, part of Vijay Mallya's UB group, was locked in the 5 per cent upper circuit on Monday. The stock closed at Rs 390.70 on the BSE with volumes of 1.72 lakh shares.

Dealers said the interest in the stock is on market talk that Kingfisher Airlines, promoted by UB Holdings, is set to acquire more aircraft. Since the major investment in the airlines is made by UB Holdings, market players are buying the stock.

Market rumours are that once the full fleet of aircraft is operational, the company would get much better valuation than the current levels.

Financial Tech: Cashing in on exchange growth

SHARES of Financial Technologies, an IT product company for securities industries, are being accumulated by select market players.

The market buzz is that the stock is being picked up on expectation of good growth prospects for Multi Commodity Exchange, promoted by the company. It is the country's second largest commodity exchange.

Dealers said there has been continuous growth in the member's lists for the exchange and the software for all this is provided by Financial Technologies. The interest in the stock is due to the buoyant stock market as more brokers are using the company's software for their back-office and other operational needs.

Several FIIs, including Fidelity, have already acquired stake in the company. On Monday, the stock price of the company gained 6.5 per cent at Rs 398.05 on BSE with volume of 2.43 lakh shares.

Western India Shipyard: Takeover talk buoys stock

THE stock of Western India Shipyard, a ship repairing company, has been on an upward move for the past one week.

The stock price of the company has gained 45 per cent. On Monday, the stock gained 13.97 per cent at Rs 18.03 on the BSE with volume of 71.02 lakh shares. Dealers said the sudden spurt in the stock price is on market talk that Larsen & Tourbo may acquire the company.

Currently, the management of the company is under ICICI Bank and the bank is planning to sell its stake . Even though the exact price at which the deal is likely to be struck is not known, market players feel that once a new management takes over the company's profile would improve.

Neither Western India nor Larsen & Tourbo officials were available for comment. In the past also there have been talk of a takeover of Western India, but nothing had materialised.

Virendra Verma

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