The Hindu Business Line : Transchem up on de-merger plan

THE counter of Transchem Ltd, a company in pharma and agro businesses, was active on Thursday for its de-merger plan. The company intends to hive-off its agribusiness into a separate company and focus more on high yield medicinal plants and herbs, whose demands are understood to be rising phenomenally.

The stock moved up 8.64 per cent to finish at Rs 23.90 on the BSE with a traded quantity of 4.13 lakh shares.

According to analysts, the medicinal plants and herbs farming and processing business has the potential to increase its profitability manifold.

Transchem, present in the niche pharma market of anthelminitic, APIs, veterinary products, had reported net profit of Rs 4.92 crore in 2004-05 on an equity base of Rs 12.24 crore. The current book value of the stock is Rs 36.

Ion Exchange gains on order book talk

THE Ion Exchange stock saw a nearly three times its traded quantity and price increase of 6.81 per cent to Rs 76.05 on the BSE on market talk that the order book position of the company has seen a sharp improvement of late.

According to dealers, a group of smart investors is accumulating the stock aggressively. The company has been obtaining drinking water, sewage and affluent treatment projects in the domestic markets in view of greater official focus on water projects as also additional thrust from the industrial units because of rising pollution control norms and benchmarks.

It also bagged a number of prestigious overseas contracts recently. Its engineering, chemicals and consumer product divisions and the 100 per cent subsidiary, Ion Exchange Envirofirms, (active in bio-technology space) are reported to have stepped up performance to grab emerging opportunities.

Pudumjee betting on property sale

THE Pudumjee Pulp counter is moving on the back of market expectation that its Pune land sale plan would be completed shortly. The deal, according to market estimates, may fetch around Rs 60 crore. An improved operational performance (net jumped by 237 per cent to Rs 5.70 crore in 2004-05) has also attracted a section of investors.

The stock closed at Rs 66.85 with a gain of 3.97 per cent and a traded quantity of 67,347 shares on the BSE.

Jayanta Mallick

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Diversified funds fail to match the recent Sensex surge

Grasim sells 7.39 pc stake in Century Enka

Bulls prevail

Transchem up on de-merger plan

Small reversal likely in ITC, HPCL

DEG starts mopping up of Agro Dutch Ind stocks

Media stocks up on FDI announcement

Yash Papers launches public issue to shore up operations