Financial Daily from THE HINDU group of publications
Saturday, Nov 26, 2005
Financial Daily from THE HINDU group of publications Saturday, Nov 26, 2005 |
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Markets
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Stock Markets Columns - Ear to the ground RPG Life Sciences shines on its investments
THERE is a buzz around RPG Life Sciences that its investments would be hived off into a separate entity. An R P Goenka group spokesperson told Business Line that such a restructuring was possible. He, however, clarified that the management has just begun to take a look at the subject and no concrete decision has been taken as yet. An official proposal may be taken up shortly, the source indicated. RPG Life Science has investments worth around Rs 100 crore. Majority of its investments are in listed group outfits, values of which have appreciated substantially in recent months. A recent grant of patent for an API used in treatment of schizophrenia from the US authorities is also looked upon as a positive for the stock. On Friday, it finished at Rs 148.55, up five per cent. In the last one month, RPG Life Sciences has gained by around 22 per cent.
Betting on order hopes CENLUB Industries, the industrial and automotive lubricating systems manufacturer, according to market grapevine, is in negotiation with Tata Motors for a significant order for its system/equipment for four-wheelers. According to dealers, if such a large order comes its way, the company may see a quantum jump in sales in future. The stock moved up on Friday by 7.80 per cent to Rs 30.40. The stock has moved up 51.24 per cent in the last one week. The average volumes have improved recently in the counter. Against a 2-week average of 18,492 shares on the BSE, it clocked a traded quantity of 31,398 shares today.
Up on performance ECOBOARDS Ltd, a particle boards manufacturer, is showing movement after it reported improvement in its quarterly numbers following negotiated settlement with banks and institutions causing a relief by way of interest dues waiver and part waiver of principal amount. During the first two quarters of the current fiscal, the profit figures against losses in the previous fiscal, suggest substantial reduction in interest costs. Increasing demands from the housing sector and possibility of future accumulation of carbon credits are also mentioned by market sources as reasons for beginning of some accumulation in the counter recently. The stock was up around 10 per cent at Rs 20.30. On the BSE, it recorded a traded volume of 41,116 shares against a fortnightly average of 26,839 shares.
Jayanta Mallick
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