The Hindu Business Line : Cement scrips back in the reckoning

CEMENT companies stocks are back in the limelight. There was active buying in most of the cement stocks on Friday. Some of the prominent stocks in which buying was seen included Gujarat Ambuja Cement (up 5.41 per cent at Rs 78.95 on BSE); ACC (4.03 per cent at Rs 503.40); India Cement (3.79 per cent at Rs 99.95); Prism Cement (7.82 per cent at Rs 22.75); Mangalam Cement (3.26 per cent at Rs 69.65). Dealers said that buying interest in cement stocks has resumed.

This is after leading cement companies such as ACC and Gujarat Ambuja reported disappointing results for the September quarter. The talk indicates that the current and the next quarter for most of the cement companies would be good and several of them are also likely to increase cement prices soon.

Nestle India: Trading volumes on the rise

NESTLE India is witnessing increased trading volumes during the last few days. On Friday, the stock had large volumes compared to its daily average. However, there is not much movement in the stock price.

On Friday, the stock closed at Rs 910 up 0.78 per cent on the BSE with volume of 5.63 lakh shares. The buzz is that the parent could be buying the shares from the open market. In the past, Nestle SA has bought shares from the open market. Company officials were not available for comments.

Centurion Bank gains on nod for FII purchases

THE scrip of Centurion Bank of Punjab rose sharply on Friday. It gained 10.75 per cent to Rs 20.60 on the BSE with volumes of 39.63 lakh shares and on the NSE it closed at Rs 20.65, up 11.02 per cent with a volume of 1.08 crore shares. Dealers said the rise in the stock price is due to the RBI allowing FIIs to make fresh purchases in the shares of the bank.

Dealers said that several FIIs are bullish on the stock as they expect the bank to show good growth. The merger of Bank of Punjab with it is also seen as positive as it will give the bank strength in the western and northern parts of the country. Another factor for the interest in the bank is that there are very few listed good banks in which FIIs can make fresh purchases. Most of the banks have already reached the maximum FIIs limit and fresh buying is not allowed in them.

Virendra Verma

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