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MAHARASHTRA Scooter on Thursday moved on a faster lane as market player's anticipated early solution to the vexed issue of purchase price of the stake held by WMDC, a co-promoter. According to market sources, the arbitration result is expected on August 19. It is further anticipated that purchase price of MSL shares by Bajaj Auto, the other co-promoter, could be over Rs 500 per share.

The stock on Thursday shot up by 9.07 per cent to close at Rs 284 on the NSE with 1.62 lakh shares changing hands.

Sails on overseas listing hopes

Essar Shipping is buzzing at the stock market as market players anticipated that the company might go in for Singapore Stock Exchange listing.

According to industry sources, the company has been trying to get overseas listing to get access to greater funds to expand its fleet and operation.

The stock gained 4.55 per cent to Rs 37.90 on the BSE with 23.09 lakh shares being traded on Thursday.

Order talk peps it up

UB Engineering has been attracting some attention from a section of punters as they talked about the company, which manufactures electrical components, getting a fresh order worth Rs 40 crore. The stock, after touching day's high of Rs 33.50, closed at Rs 32.50 - a fall of 2.26 per cent over the previous day's close. About 33,500 shares changed hands at the counter on the BSE.

Jayanta Mallick

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