The Hindu Business Line : Gujarat Apollo riding on order hopes

GUJARAT Apollo is firm on expectation of a greater order book size and new export potential. According to market sources, the road equipment manufacturer is witnessing higher flow of contracts awarded to it as the activity in the domestic road sector increases.

According to the management, the company has also been receiving more export enquiries. Apart from growth prospects, its relatively low P/E of around 10, compared to its peers that are posting a P/E of over 20, is considered to be an attraction. The stock on Monday moved up marginally to close at Rs 128.90. In the last one month, it has gained by 8.32 per cent and a week's gain is 2.96 per cent.

Solvay Pharma back in reckoning

A DECLINING trend in Solvay Pharma seems to have been arrested with the return of some buoyancy in the mid- and small stocks. In terms of P/E, it is reckoned amongst the cheapest in the MNC pharmaceutical stocks. Its current P/E is around 7.5. Its improving fundamentals appear to have prompted return of some interest in the counter, dealers said. On Monday, the stock finished flat at Rs 508.

Empire Industries up on realty push

THE Empire Industries stock saw significant volatility on small volumes. The stock closed at Rs 197 after fluctuating between the day's high of Rs 197.70 and low of Rs 179.70. The company's glass manufacturing, machine tools and chemicals divisions are reportedly doing well. But, according to market sources, a section of market players is primarily betting on its underlying value in property in Mumbai, which is being estimated at around Rs 750 crore. On a current paid-up equity of Rs 6 crore, this property's valuation per share would be around Rs 1,250, it is contended.

Jayanta Mallick

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