Financial Daily from THE HINDU group of publications
Thursday, Feb 23, 2006
Financial Daily from THE HINDU group of publications Thursday, Feb 23, 2006 |
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Markets
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Stock Markets Columns - Ear to the ground Artson Engg: To change hands?
A sudden position build-up in Artson Engineering is understandably over the speculation that a change of control of the company is imminent. According to market talk, a large engineering firm and a private investor are taking controlling stake in this niche engineering company, active in specialised area of refineries, ports and airports. Attempts by Business Line at obtaining response on the rumour from the current promoters, however, failed. The grapevine has it that the present promoters would remain, but with a minority holding, after a fresh preferential issue. At present, five individual promoters jointly hold 8.93 per cent, while public holding is placed at 73.97 per cent and private corporate bodies have 15.45 per cent. The stock on Wednesday logged 10 per cent price appreciation on the BSE to finish at Rs 21 with a traded quantity of almost two lakh shares, a record of sort for the counter. In the past one week, the counter has gained by over 25 per cent and a month's gain is more than 33 per cent on the exchange.
Tyche Peripherals: Growth hopes TYCHE Peripherals, a little researched stock, appears to be attracting attention, of late, from a section of market players. The company is being looked at as a new discovery in the broad IT space. The company, which manufactures/markets currency counting equipment and videographic systems for banks and ATMs, as also distributes front-end digital registers for malls, has reportedly been seeing steady growth in sales. The revenue and profit growth avenue for the company is annual maintenance contracts, which are to begin shortly for 80,000 equipment installations already made across the country, according to market sources. The stock has moved up by over 42 per cent in the last one month. On Wednesday, it closed at Rs 27.50, after touching a day's high at Rs 28.95, against the previous closing price of Rs 28.85 on the BSE. The average daily traded quantity of the stock in the past two weeks has been over 1.20 lakh shares on the bourse.
Jayanta Mallick
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