The Hindu Business Line : Pitti active on order positions

PITTI Lamination has been active, of late, on accumulation by a section of market players. The stock recorded a traded quantity of 62,314 shares on the BSE on Wednesday against 29,133 shares on Tuesday. The closing price, however, showed a loss of around 7 per cent at Rs 110.10.

According to dealers, buying was witnessed at lower levels. Market sources said a healthy order book position and expansion project have kept the interest for the stock at a steady level in the last fortnight despite price fluctuation. The stock price had moved up to Rs 122 on January 25 last.

Mr Sharad B. Pitti, CMD, told Business Line that its Rs 25-crore expansion project was nearing completion. He did confirm that the order book position was better this fiscal. The capacity expansion project and the strong order flow are expected to result in a sales growth of around 50 per cent in 2006-07.

Cera Sanitary up on `buy' talk

CERA Sanitaryware is drawing investors' attention following "buy" recommendation by several broking houses including CLSA. According to market sources, strong growth earnings growth possibility this fiscal is being punted on. The stock closed at Rs 77.20 on the BSE after touching a day's high at 80.65 against the previous closing of Rs 76.85. Traded quantity in the counter also shot up to 73,654 shares from the 2-week average of 29,915 shares on the exchange. The stock has gained around 12 per cent in the last one month.

Acquisition buzz keeps Suryavanshi firm

The market buzz for Suryavanshi Spinning is that it has acquired an unlisted weaving company, which is to be amalgamated with the company. The company has also raised funds through placements recently. The stock's market valuation has appreciated by over 16 per cent in January to Rs 85 on the BSE. The counter is also recording higher average daily volume at 41,545 shares on the BSE. According to market sources, the acquisition is likely to increase its profitability and earnings.

Jayanta Mallick

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