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IS Insilco Ltd's German parent looking for increasing its stake and planning to eventually de-list the company?

The stock market seems to have sensed the possible development.

The stock on Monday closed at the 20-per cent upper circuit at Rs 39.60 and in the process created 52-week high on the BSE. The total traded volume on the exchange was 23.17 lakh shares. Within a week, the counter has gained around 49 per cent.

The promoters - RAG Projektgesellschaft (RAGP) - along with persons acting in concert hold around 73.22 per cent stake in the Rs 62.7-crore paid-up capital of the precipitated (dry) silica manufacturing company.

Originally a joint venture between Bhartia group and Degussa-Huls AG of Germany, Insilco saw a buyout of partner by Degussa in 1998; following a takeover of Degussa by RAGP in Germany, controlling stake in the company moved over to the latter in 2003.

Dena Bank gains on value buying

DENA Bank is being accumulated by select investors following its recent tie-up with Small Industries Development Bank of India (SIDBI) for lending in the SME sector.

According to market sources, through the collaboration, not only the credit deal flow would increase for the bank, but quality of loan assets would also go up paving way for higher profitability.

Credit off-take in this sector is stated to be increasing at a higher rate than the large-scale sector.

The stock logged huge volume surge and on the BSE 26.25 lakh shares changed hands on Monday. The stock price, after touching a day's high at Rs 37.50, finished at Rs 35.80, down 0.69 per cent.

Hospital scrips in fine health

MEDICAL tourism has caught on and the hospital stocks are on the upward journey. Even on a volatile trading session on Monday, most of the healthcare stocks either gained or closed firm with decent volumes.

In terms of price, Noida Medical (which has a technical tie-up with Escorts Hospital) gained 5 per cent to close at Rs 21.10, while in terms of traded quantity Indraprastha Medical (in which Apollo Hospitals has a stake) achieved a record figure of 24.70 lakh shares on the BSE. Apollo Hospitals also finished marginally higher after witnessing some profit taking.

Kovai Medical was the only counter in the space closed in the red at Rs 44.80 after showing gains. According analysts, more and more domestic hospitals are paving the way to receive foreign patients through accreditation, tapping the overseas insurers and improvement of facilities.

Jayanta Mallick

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