Financial Daily from THE HINDU group of publications
Friday, Dec 09, 2005
Financial Daily from THE HINDU group of publications Friday, Dec 09, 2005 |
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Markets
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Stock Markets Columns - Ear to the ground Navin Fluorine gains on carbon trading buzz
NAVIN Fluorine gained by five per cent on Thursday to close at Rs 324.10 with volumes rising on market buzz that the company has progressed in its efforts towards beginning carbon trading. Volume increased to 1.02 lakh shares from the two-week average of 78,536 shares. The stock has moved up by 26.75 per cent in the last one week. Mr Vishal Mafatlal, Director of the company, told Business Line that Navin's negotiations with a potential partner was in progress. The deal could be reached soon and the necessary infrastructure would be put in place following an agreement with the partner. "We want the best deal in terms of price for the carbon credits. After the deal is through, we would also take forward positions in carbon trading to secure our profits in a fluctuating market. The returns of all these efforts should begin to flow to the company in financial year 2007," he said. He said the company had already initiated the appropriate process for obtaining approvals for compilation of carbon credits and commencing carbon trading.
Torrent Pharma buoyed by bonus issue hopes TORRENT Pharmaceuticals shot up by over 14 per cent following the announcement that the board would on December 15 decide on bonus issue and stock split. The stock has moved up by 19 per cent in one week and over 28 per cent in one month. Market expectation was that the proposed bonus issue would be in the ratio of 1:1. Incidentally, the stock touched its 52-week high on Thursday at Rs 809 before closing at Rs 770.40. The trading volume also jumped 10 folds from the fortnightly average to 2.26 lakh shares.
Unichem Lab: R&D breakthrough on cards? IS Unichem Laboratories on the threshold of a research breakthrough? Some market players seem to feel that its R&D efforts related to a particular API has reached a crucial stage. No official word, however, was available. Unichem has its R&D facility in Mumbai, apart from manufacturing facilities in Maharashtra, Goa, Himachal Pradesh and Uttar Pradesh. The company's research is focused on novel drug delivery systems and development of non-infringing routes for the manufacture of products directed towards the regulated markets. The stock, which has ruled steady in the last few weeks, finished marginally up at Rs 242.55.
Jayanta Mallick
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