Financial Daily from THE HINDU group of publications
Tuesday, Dec 06, 2005
Financial Daily from THE HINDU group of publications Tuesday, Dec 06, 2005 |
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Markets
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Stock Markets Columns - Ear to the ground Brand talk adds fuel in Godfrey Phillips
GODFREY Phillips has moved up by 31 per cent in the last one week and 53 per cent in the last one month. In a weak market on Monday, the stock moved up by around 2 per cent to close at Rs 1,611. Dalal Street is agog with rumours about the company. Some suggest the addition of a few more foreign brands from the Philips Morris stable. Others speculate a change in shareholding. None of these could, however, be confirmed. The Indian promoters, who hold a 29.44-per cent stake in the company, denied proposals of any change in their holdings. Philips Morris and public holdings are 35.93 per cent and 18.17 per cent, respectively.
Alstom Projects gains on order flow hopes ALSTOM Projects India Ltd gained 3 per cent and moved with volumes. On the NSE, the counter recorded a traded quantity of 6.46 lakh shares. According market sources, the company has been seeing an increased flow of orders. The year-end order book position is expected to be around Rs 2,000 crore, up from Rs 1,600 crore in the middle of calendar year. The growing expectations are due to commencement of work in large infrastructure projects.
Chase ahead of Court verdict SOME market participants have devised a profitable way for investing in TCS by investing in Tata Infotech, which is awaiting a High Court approval for an amalgamation with TCS. The share exchange ratio for this is proposed at one equity share of Re 1 each of TCS for two equity shares of Rs 10 each of Tata Infotech Ltd. Till the cut-off date to obtain a TCS share in lieu of Tata Infotech shares, the market players said a favourable difference in the market price for the latter provides an opportunity. On Monday, Tata Infotech closed at Rs 737.60, while TCS finished at Rs 1,528.20. Thus two shares of Tata Infotech at Rs 1,475 will entitle an investor to a TCS share at a paper profit of around Rs 53.
Jayanta Mallick
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