The Hindu Business Line : Matsushita gains on Japan buying?

Matsushita Electric Industrial Co currently holds 51 per cent in the company, while the combined holding of Lakhanpals is over 8 per cent. FII investment in it is negligible.

A section of the market players felt Japanese portfolio investment may be attracted towards this company. The traded volume in the counter witnessed a sudden surge. The stock finished Rs 95.65, a gain of 14.07 per cent, after touching its 52-week high at Rs 99 on the BSE. It recorded a volume of 1.71 lakh shares.

With the FMCG sector doing well and sales of electronic appliances steadily going up, investor attention seems to be turning to the dry cell battery (Novino brand) stock with a book value of around Rs 100.

Noida Toll Bridge: Land deal talk drives it up

THE counter of Noida Toll Bridge saw a growth in traffic on Monday. Some 5.68 lakh shares changed hands in the counter. The stock closed at Rs 22.70, up around one per cent on the BSE. The company, which is an associate company of ILFS (29.41 per cent stake), is receiving fresh attention from Dalal Street.

This is over the prospects of development of land it obtained from New Okhla Industrial Development Authority (Noida), which has 8.17 per cent stake in it. The company has recently got development rights for a portion of the land.

According to market observers, the total land it had for phased development based on current estimates would be over Rs 600 crore. The last revaluation of the total land was done in 2003-04.

Further, it has taken up a new two-lane one-way link road project in New Delhi. "It has also gone through financial restructuring and has lined up Rs 25-crore rights issue. The recent developments point to growth in earnings and reduction in cost in the near future," a fund manager said.

Monsoon sows up interest in agro chemicals

THE decent progress of monsoon has revived interests in agro chemicals stocks such as Sudarshan Chemicals and Bayer Crop Science. The Sudarshan Chemicals stock on Monday moved up by 4.04 per cent to close at Rs 224 on the BSE, after creating its year- high valuation at Rs 226.05.

The Bayer Crop Science counter buzzed with return of activity on the BSE with 37,993 shares changing hands. The stock posted a gain of 2.34 per cent at Rs 197.20.

According to market sources, accumulation is beginning in these counters as more and more broking firms have been posting `buy' recommendations.

Geojit Securities has predicted an EPS of Rs 31 for Sudarshan Chemicals for 2005-06.

Jayanta Mallick

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