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LKP Merchant Finance is steadily moving on expectation of strategic stake sale in the company at a premium over the current market price.

Mr Maheshbhai Doshi, Promoter and Chairman of the company, told Business Line that the company was pursuing such a proposal. But said it would be premature to say anything further at this stage.

According to market sources, as the RBI has paved way for foreign stake through FDI in non-banking finance companies, overseas investment in LKP is also possible.

Currently, promoters hold around 56 per cent stake in LKP. FII (Matterhorn Ventures) holding in the company was 1.66 per cent.

The stock moved up one per cent to finish at Rs 76.50 on Thursday. In the last one month, it has moved up by around 24 per cent despite declining briefly in between.

Gains on stake sale talk

DEWAN Housing Finance is ruling firm on possibility of stake sale and new valuation.

According to a top management source, such a deal worth around Rs 100 crore or a little above is likely to be clinched by end of January.

"Parallel negotiations are on with more than one prospective partners, local as well as foreign," the source confirmed. The total foreign shareholding in the company at present is around 3.61 per cent. The stock closed marginally higher. In the past one week it has gained by over 7 per cent.

Active ahead of demat move

SUDARSHAN Chemicals in its run up to get dematerialised has not only been moving up but also seeing increase in volumes. The stock is expected to fully dematerialised next week. The stock has moved up by a per cent to close at Rs 242. In the last one week it has gained by around 15 per cent. The traded volumes, which until recently used to be below 100 shares, have gone up to 9,600 shares on the BSE on Thursday.

Jayanta Mallick

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