The Hindu Business Line : Pvt placement talk soon?

Dabur Pharma, which had touched an intra-day high of Rs 42.50 on Tuesday, lost ground on the bourses on Wednesday despite registering good volumes. Dealers said the weakness was in line with the broad market trend.

Rumours of a private placement have been dogging this counter ever since its debut on the bourses on September 30. Recent market talk has it that the company is close to finalising the placement at a `high' price.

Analysts maintain that the company has to shave off equity, given that it has only three months from the day of listing, to adhere to the public ownership norm set by SEBI. It is being touted as more of a long-term story.

The stock ended the day at Rs 39.90 down 3.97 per cent with around 5.39 lakh shares traded on the BSE. On the NSE, the stock ended at Rs 40, down 3.26 per cent, with around 15.64 lakh shares traded.

On price rise booster

It's a mixed bag of gains for the counter of Nava Bharat Ferro Alloy given the fact that it is a multi-product company.

Analysts maintain that the main trigger at this counter is the fact that the prices of ferro alloy commodities have more than doubled over the past year.

The company is largely into manufacturing bulk ferro alloy such as ferro chrome, silicom manganese etc. However the counter is also a sugar play (albeit in a small way), accruing almost Rs 50-odd crore from this segment.

It also has a captive power plant and has recently undertaken capex in both its sugar and power divisions.

The stock ended the day at Rs 370.80, up 2.59 per cent, with around 78745 shares traded on the BSE. On the NSE, the stock ended at Rs 366.40 with around 2.15 lakh shares traded.

Acquisition talk spurs interest

Another counter that has been dogged by `acquisition' stories is Bank of Punjab. The `on-again, off-again' rumour appeared to spur interest in the stock which ended the day almost 7.07 per cent up at Rs 21.95 with around 13 lakh shares traded on the BSE.

However analysts term the interest as pure operator play, as it is not an institutional stock. Sources said that this is one counter that has always been sensitive to any `acquisition' story doing the rounds of the market.

Deeptha Rajkumar

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