The Hindu Business Line : Dewan Housing betting on biz prospects

DEWAN Housing Finance closed at Rs 55.50, up 2.02 per cent, with a traded volume of Rs 1.54 lakh shares on the NSE and 78,442 shares on the BSE on better business prospects.

Mr Kapil Wadhawan, MD, told Business Line that the mid-term Credit Policy prescription was unlikely to have an adverse impact on the demand for housing finance and its rate.

However, potential rise in inflation was a worry, he felt. He further added that the company's proposed real estate fund would have a corpus of Rs 250 crore.

"The scheme would soon start the fund raising exercise for a balanced fund. DHFL, as a sponsor, will have required a contribution towards the fund according to the prudential norm", Mr Wadhawan explained.

He said DHFL itself has planned to raise Rs 100 crore. "The issue is being structured. Issue of convertible preference shares is one of the possible options," he said.

Pearl Global bullish on Q2 numbers

Pearl Global made some recovery on expectation of better results for the quarter ended on September 30, 2005. The stock finished at Rs 62.70, up 2.70 per cent.

The textiles exporter, which is setting up a joint venture manufacturing facility for soft fabrics in China to secure part of its supplies, is understood to have chalked up a plan for its presence in domestic retailing.

According to industry sources, the company is in the process of booking retail outlet spaces in cities across northern region - such as Jaipur, Gurgaon, Chandigarh and Lucknow.

According to market analysts, growth prospect remaining high, the recent fall in price makes it an attractive long-term bet.

Riddhi Siddhi Gulcobiol: Recent acquisition bodes well

RIDDHI Siddhi Glucobiol shot up five per cent to close at Rs 101.05 on rising demand of its starch products.

According to industry analysts, the integration of operation of the plant, which it recently acquired from HLL, has given the company a dominant position in starch related products used in pharmaceuticals and food industries.

On the back of the better performance, the stock is being looked at by a section of market players as a value proposition at current levels.

Jayanta Mallick

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