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Rumours of a bonus issue have been dogging the counter of specialty chemical company Balaji Amines that closed at the upper circuit levels on the BSE on Friday . The stock closed up 20 per cent at Rs 215.50 on the BSE. The counter has gained almost 26 per cent week on week and 20 per cent month on month.

There is speculation in the market that the company, which had announced its first quarter results on Thursday, could be looking at announcing a bonus or rights issue, say two-three months down the line.

Analysts said the rumour gained in strength when no such announcement was forthcoming in this quarter. The company, which went commercial this year with two import substitute products — 2-pyrolidene and Morpholine — is looking to ramp up its product line.

Market sources said the company is likely to launch two new products shortly.

Deeptha Rajkumar

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`Low' beats forecasts, intensifies rapidly

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