Financial Daily from THE HINDU group of publications
Friday, Feb 17, 2006
Financial Daily from THE HINDU group of publications Friday, Feb 17, 2006 |
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Markets
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Stock Markets Columns - Ear to the ground JK Investo up on hive-off buzz Jayanta Mallick
JK Investo Trade, an investment arm of the JK group, is moving up on expectations that JK Helene Curtis would be made a listed company. JK Investo Trade is the holding company of JK Helene Curtis. According to market sources, hiving off the Rs 100-crore JK Helene Curtis as a separate company, which owns the Park Avenue brand and markets , would unlock the investment valuation of JK Investo Trade. There is also talk of an IPO from JK Helene Curtis as early as September. On Thursday, the stock moved up by around 5 per cent to finish at Rs 76.25 on the Bombay Stock Exchange with a traded quantity of 16,210 shares, much above the fortnightly average witnessed in the counter on the exchange. The market sources further said that the company holds 14 lakh shares of Raymond Ltd. "The current market valuation of JK Investo Trade only equals the value of its investments in Raymond."
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