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SELECT investors have been accumulating shares of ITC. Dealers said interest is due to the stock going ex-bonus and spilt from next month. Investors who want to own the bonus shares are buying the shares. Dealers said post-bonus and split, the valuation of the stock would be better. This is due to the low liquidity in the stock at present.

The uptrend in the hotel and paper industry is also seen as positive.

On Wednesday, ITC rose 2.68 per cent at Rs 1,713.85 on the BSE with volumes of 2.62 lakh shares; on the NSE, it closed at Rs 1,718.55, up 2.83 per cent with volumes of 7.64 lakh shares.

Faze Three up on order talk

FAZE Three Ltd, a textile company, was locked in the 10-per cent upper circuit on Wednesday. The stock closed at Rs 41.80 on the BSE with volumes 2.25 lakh shares.

Dealers said the interest in the stock is on talk of orders from Europe and US. The company makes bath mats. The talk is that the company has tied with U Whitley Willow for selling bath mats. It is also planning to have tie-ups with companies in the US.

The interest in the stock is also due to its expansion for new bath mat unit going for production early next year.

Dealers said the company operates in a very niche segment within the textile sector and with quota system being removed, the company is in a good position to tap this opportunity.

Hyderabad Ind benefits on revamp

HYDERABAD Industries, a company into cement sheets, was locked in the five-per cent upper circuit on Wednesday. The stock closed at Rs 485.55 on the BSE with volumes of 85,800 shares; on the NSE, it closed at Rs 485.75 with volumes of 86,605 shares.

Dealers cited the accruing of full benefit after the restructuring undertaken by the company last financial year as a reason. The company sold its loss-making heavy engineering division as part of restructuring. Dealers said cement sheets business is also doing well.

With industrial activity picking up, the demand for the sheets is also likely to go up.

Virendra Verma

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