The Hindu Business Line : Himatsingka Seide gains on retail focus

WITH the retail sector being the buzz among the market players, a stock that is being accumulated is Himatsingka Seide, a company engaged in textile business.

Dealers said that Himatsingka's retail initiative called Atmosphere, which sells home furnishings, has been performing well with 20 per cent of total sales being contributed by the same.

The talk is that the company plans to add 15-20 more stores in the next 12 months, taking the total number of stores to 30. The company has targeted 40 per cent revenue contribution from the retail business.

Several market players have started buying the stock as they feel that the company should get part of the valuation commanded by retail stocks such as Pantaloon and Trent.

On Tuesday, the stock gained 1.39 per cent to close at Rs 376.45 on the BSE with volume of 1,641 shares. On the NSE, it closed at Rs 381.35 with volume of 13,466 shares.

Beckons Ind rises on new pact with Israeli co

THE stock of biotechnology company Beckons Industries has been on an upward move for the past one week. The stock has gained more than 25 per cent during the week at a time when most of the small-cap stocks have taken a beating.

Market talk is that the stock is on upward move due to a joint venture being set up by the company along with the Israeli Sayal group for a cherry biotech project. This project would entail an investment of Rs 85 crore. In this venture, Beckons would hold 55 per cent stake.

The talk is that the project is likely to be highly profitable once it is operational. Other than this project, Beckons is engaged in some other projects in the area of biotechnology. On Tuesday, the stock gained 10 per cent to close at Rs 24.79 with volume of 6.79 lakh shares.

Realty adds value

THE sale of NTC Mills land in Mumbai has revived the interest of market players in the stocks of companies that have huge real estate in Mumbai or around the city.

Dealers said that there has been sudden interest in these companies' stocks as the NTC Mills deal has set the new benchmark for mill land in Mumbai. Some of the companies that own huge tracts of land in Mumbai are Bombay Dyeing, Nesco Ltd, Hindustan Spinning and Weaving Mills, NRC, and Morajee Realities.

Even the stock of India Bulls, whose subsidiary bought land in Mumbai recently to develop real estate, was also up on the good outlook for it.

Virendra Verma

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