The Hindu Business Line : `Buy' mode sweetens Bajaj Hindusthan

BAJAJ Hindusthan has been a market favourite. Current rally in the stock is being attributed to some large brokerages recommending a `buy' on it. This positive recommendation is due to expectations of good performance for the next year as the company is said to be expanding capacity.

Brokerages favourably attuned towards the stock have been telling their clients to accumulate it in the light of potentially high volume earnings, even if the price of sugar does not significantly appreciate.

The company has also announced plans for acquisitions and other inorganic growth strategies post its capacity expansion.

The stock ended on Thursday at Rs 163.75, with volumes exceeding two lakh shares on the BSE. It appreciated 28 per cent since June 14, when it was quoting at Rs 128.05.

M&M still riding on same buzz

MAHINDRA & Mahindra (M&M) has had a significant run up this week. The stock touched its 52-week high of Rs 617 on July 11. Though it has come off this high due to profit taking, interest in the stock is still high with the counter closing at Rs 595 on Thursday.

Markets continue to buzz about a possible acquisition of Ramkrishna Forging by M&M though both the companies have denied it. Ramkrishna Forging touched its 52-week high of Rs 91.90 on Wednesday, on the back of this speculation.

Further, media reports have also suggested that M&M is seeking to expand its international operations and is looking for acquisitions abroad.

Networth sails on sector tag

NETWORTH Stock Broking Ltd hits its 52-week high on Thursday. The strong run in the counter of Indiabulls has led to the discovery of listed stock broking companies as a hot investment counter, according to dealers.

Net Worth set to start its Internet trading platform. The company currently has around 50 branches spread across the country. Public holding in the company is currently close to 20 per cent.

The stock was locked in the 20 per cent upper circuit on Thursday and ended at its 52-week high of Rs 48.30. Over 1.28 lakh shares were traded on the BSE.

Dealers say that operator interest is largely responsible for the current upswing in the stock.

Veena Venugopal

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

Stories in this Section
Bear domination

`Buy' mode sweetens Bajaj Hindusthan

Flextronics top brass sell shares since delisting announcement

Alstom Projects shines on strong order book

Outlook may turn positive for Reliance Energy

Now, it's the turn of Korea, Taiwan investors to knock at Indian doors

Tech stocks worst hit