Financial Daily from THE HINDU group of publications
Tuesday, Jan 31, 2006
Financial Daily from THE HINDU group of publications Tuesday, Jan 31, 2006 |
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Markets
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Stock Markets Columns - Ear to the ground Empire Industries betting on realty?
EMPIRE Industries on Monday closed on the five per cent upper circuit at Rs 286.35 on the BSE on the possibility of "value unlocking" through real estate sale, the dealers said. It has a total of 30 acres of land in Mumbai at two places, which are being handed over to developers, market sources pointed out. In Bhandup, it has a plot of around 19 acres, which is rumoured to be first on the list. The other plot is located at Lower Parel. In the last one month, the stock has moved up by over 57 per cent.
Low-value tag lures buying THE market buzz for Blue Coast Hotels and Resorts is centered around its low valuation compared to other small-listed hotel stocks. The stock has been steadily moving up of late. In the last one week it has gained by over 21 per cent and in a months' time by around 43 per cent. It closed the day at Rs 121.15, a gain of 5 per cent over the previous day's close. Market sources said that the 7-Star leisure company, managed by Park Hyatt, has 270 rooms and the current average room rate is Rs 17,000 a day.
Jayanta Mallick
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