The Hindu Business Line : Dubai plans tick well for Titan Industries

TITAN Industries shot up by over 11 per cent on Friday on market buzz that the company was planning to open full-fledged outlets in Dubai, which would be used as a hub for the European and the American markets, dealers said.

On the BSE, the stock closed at Rs 797.35, up by 11.25 per cent from the previous close. The counter attracted strong buying interest also due the company's huge success at an exhibition-cum-sale last week in Dubai.

Almost all of its top-end products were sold out at the fair, resulting in the company deciding to have a permanent outlet in Dubai, dealers said.

Over 25.5 lakh shares were traded on the BSE compared to the two-week average of 8.64 lakh shares. On the NSE, the Titan stock closed 11.17 per cent high on Rs 797.05. Over 50 lakh shares changed hands on the exchange.

Canara Bank gains on acquisition talk

CANARA Bank witnessed buying interest on Friday on market talk that the bank may buyout a couple of small private sector banks in North India soon.

Dealers said the Canara Bank stock was also witnessing a `re-rating', attracting fund buying. The proposed acquisitions would help the public sector bank to expand its network in the Northern markets, they said.

The share prices flared up 9.95 per cent on the BSE to close at Rs 263.50, compared to the previous closing of Rs 239.65. The stock touched 52-week high during intra-day at Rs 276.30.

Over 17.48 lakh shares were traded on the BSE, compared to the two-week average of 3.15 lakh shares. On the NSE, Canara Bank shot up 9.71 per cent to close at Rs 263.25. Over 72.34 lakh shares were traded on the exchange.

Agro Tech Foods: Buying on policy sop hopes

AGRO TECH Foods shares were in the limelight on an expected bonanza from the Government for food export processing sector, dealers said.

Agro Tech Foods Ltd (earlier known as ITC Agrotech) is a 51-per cent subsidiary of US-based ConAgra. ConAgra is the world's fourth largest food company.

Dealers said the company was expected to benefit from the Government's thrust on food processing sector. The stock closed at Rs 128.9 on Friday, an increase of 3.95 per cent from the previous closing. Over 4.9 lakh shares were traded on the BSE, compared to the two-week average of over 1.27 lakh shares.

Rajesh Abraham

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