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Jayanta Mallick

ZUARI Industries on Tuesday appreciated as some stock pickers are understood to have launched an accumulation drive. The stock recorded a traded quantity of 76,504 shares on the BSE, nearly the double of its 2-week average volume of 38,876 shares on the exchange. According to market sources, relatively low market valuation of the stock, which represents both cement and fertiliser plays, was the reason for the fresh interest.

In addition to the positives for cement and fertiliser, the company's retail furniture business is also reportedly drawing attention on account of growth potential. The counter closed at Rs 143.75 with a gain of 3.79 per cent on the BSE. On January 3, the stock had touched its 52-week high at Rs 151.80.

Riding on divestment hopes

BALMER Lawrie Investments made a fresh upward mode on Tuesday as the market participants expected that the UPA Government would be able to overcome the resistance of the Left parties to the proposals of partial divestment in select PSUs, including Balmer Lawrie. The investment company stock shot up by 3.07 per cent to Rs 120.7 on Tuesday after a lull.

Up on growth prospects

HK Finechem is trading in the Rs 54 - 55 range even though the company has reported marginal loss in the quarter to December 31, 2005. According to dealers, the market has largely denied the fall in the net profit simply because there was a 17-day plant shutdown during the quarter for carrying on its expansion project. The stock on Tuesday closed at Rs 54, down by a rupee, on the BSE. "Growth prospects of the company remaining intact, the investors seem to be holding the stock instead of going in for selling," they said.

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