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Dalal Street is agog with rumours that three cement companies would soon declare bonus issues. However, there is no official confirmation available on the so-called market talk from any of the companies - two market leaders and relatively smaller southern region manufacturer.

Grasim, market regular insists, is likely to announce ("maybe after the board meeting on October 18", goes the word) the bonanza. Grasim has an equity base of 91.69 crore and a reserve of Rs 4,886 crore as of March 31, 2006, finished up 1.55 per cent on Friday and logged a gain of 6 per cent in the last one week at Rs 2672.40 on the BSE.

Ultratech Cement, understood to be in the pack, closed 2 per cent up at Rs 904 on the exchange. The market insiders anticipate that it (paid-up capital Rs 124 crore) may also capitalise soon a part of reserves of Rs 1,108 crore. The most recent inclusion in the bonus buzz is Deccan Cement, which hit its 52-week high on October 6. It also finished in the green at Rs 191 on the BSE on the supposed possibility.

Jayanta Mallick

More Stories on : Stock Markets | Stocks | Cement | Ear to the ground

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