Business Daily from THE HINDU group of publications
Saturday, Aug 04, 2007
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Business Daily from THE HINDU group of publications Saturday, Aug 04, 2007 ePaper |
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Stock Markets Markets - Stocks Columns - Ear to the ground
Hitachi Home & Life Solutions India Ltd has been gaining strength on the bourses by registering new peaks on each passing day. The stock on Friday touched its 52-week high at Rs 150.95 though it ended weak by 3.48 per cent at Rs 140.10 against Thursday’s closing price of Rs 145.15. While one section of the market attributing the stellar run to the company’s quarterly performance, others say that its foreign promoter, Hitachi Inc, which holds about 70 per cent in the company, might come out with an open offer to pick up the balance stake and might de-list the stock eventually. When contacted, Mr Parag Dave, Company Secretary, Hitachi Home, denied any such plans. . The company reported a net profit of Rs 17.38 crore for the quarter ended June 30, 2007, against Rs 8.87 crore reported during the corresponding period of the previous fiscal. The stock gained 22 per cent over a week’s period and 33.25 per cent in a month’s time. Of late, trading volumes have also been quite high on the counter. On Friday, it registered a volume of 7.72 lakh shares on the BSE against its two-week average of 6.74 lakh shares. K.S. Badri Narayanan
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