The Hindu Business Line : Consolidation talk bodes well

THE stock of Hinduja TMT surged on the bourses on Friday on the possibility of GSM cellular service provider Hutch going in for consolidation of all its subsidiaries. Hinduja TMT has 10 per cent stake in Fascal, the Gujarat arm of Hutch operations.

Word on the street is that post-consolidation, Hutch may come out with an IPO, a prospect that will augur well for Hinduja TMT.

The stock of Hinduja TMT ended at Rs 249.60, up 7.33 per cent, with around 4.81 lakh shares traded on the BSE. On the NSE, the stock ended at Rs 250.25, up 7.70 per cent, with around 10.78 lakh shares traded.

Mirroring the price trend

The stock of investment company Kojam Fininvest has been gathering strength on the bourses in the recent past. The counter, which has been registering good volumes, is being propelled on account of firming up of glass prices.

Kojam has 54 per cent stake in Gujarat Glass Pvt Ltd. The company makes glass bottles for the cosmetic and pharmaceutical industry.

Brokers said firm glass prices have been aiding the stock in its uptrend. The stock ended the day at Rs 38, up 4.97 per cent, with around 85,788 shares traded on the BSE. On the NSE, the stock of Rs 38.25, up 5.08 per cent, with around 20,462 shares trade on the NSE.

On strong roadmap

The stocks of construction companies - Gammon India, Hindustan Construction and IVRCL Infrastructure -- have been moving up on sustained interest in the recent past.

Brokers said that given the bullish trend in the cement sector, this segment was unlikely to remain untouched. Increased thrust on irrigation, water supply and other urban infrastructure projects by the Centre and State, have led to the sector being viewed as the major economic activity after agriculture.

The stock of Gammon India ended at Rs 472, up 4.99 per cent, with around 1,347 shares traded on the BSE. On the NSE, the stock ended at Rs 474.45, up 5 per cent, with around 2,920 shares traded.

The stock of HCC ended at Rs 196.10, up 5.09 per cent, with around 25,563 shares traded on the BSE. On the NSE, the stock ended at Rs 197.50, up 5.64 per cent, with around 52,788 shares traded.

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