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Haryana Capfin has been witnessing a strong surge on the bourses of late and it has almost reached its re-listing price. The stock was re-listed following its de-merger from Jindal Drilling and Industries (then Haryana Engineering).

According to market participants, the sharp gain in the stock has been spurred by its holding in Maharashtra Seamless, another group company. The company holds 26.63 lakh shares or 3.78 per cent in Maharashtra Seamless. That translates to about Rs 16 crore considering the latter’s closing price on Thursday.

Haryana Capfin has reported a loss of Rs 50,000 during the quarter ended September 2007, while its loss stood at Rs 3.7 lakh for the June quarter.

The stock closed at Rs 99.35, at the 20 per cent upper ceiling on Thursday. The stock has gained 55 per cent over the past week and 62 per cent in the last one month.

K.S. Badri Narayanan

More Stories on : Stocks | Restructuring | Engineering | Ear to the ground

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