Financial Daily from THE HINDU group of publications
Wednesday, Mar 15, 2006
Financial Daily from THE HINDU group of publications Wednesday, Mar 15, 2006 |
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Markets
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Stocks Lanxess ABS sees jump in price, volume Alagappan Arunachalam
Chennai , March 14 Lanxess ABS has been attracting market interest in the past few days. Apart from the 25 per cent jump in the share price, there is a sharp increase in trading volumes as well. Close to 1.4 lakh shares were traded on Tuesday as against the daily average of about 10,000 shares. The company manufactures chemically engineered acryolonitrile-butadiene styrene (ABS) resins, which are used predominantly in the auto industry to make dashboards and other polymer parts. Analysts attribute renewed interest to company's plan to expand its ABS resins capacity by about 67 per cent to one lakh tonnes over a two-year period. This apart, a consistent double-digit volume growth in the passenger vehicles and capacity expansion by auto majors is expected to translate into higher demand for ABS resins. Analysts also point out that the stock is relatively undervalued to other specialty chemical stocks; besides it has not participated in the bull run that has been on in recent years.
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