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The stock of HB Stockholdings has been on the rise in the bourses. It has gained 26.51 per cent over a week and 31.02 per cent in a month’s time. However, on Friday, the stock closed weak at Rs 38.65 (against Thursday’s price of Rs 40.65) after hitting its 52-week high of Rs 42.65 during intra-day. Volumes at 72,556 shares is higher than the two-week average figure of 49,721 shares.

Though the listing of Motilal Oswal is said to be the main reason for general optimism around stock broking companies, traders also put extra premium to the counter due to its holding in Jaiprakash Associates, that could unlock potential valuations.

HB Stockholdings holds 1.2 per cent (26.21 lakh shares) in the company that roughly translates to Rs 250 crore against its own market capitalisation of about Rs 98 crore (based on Friday’s closing price). Besides, the company holds investments in other listed companies as well, which are expected to fetch additional value.

On the back of this calculation, some trading circles are buying heavily into the stock.

K.S. Badri Narayanan

More Stories on : Stocks | Financial Services | Ear to the ground

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