The Hindu Business Line : Titan Ind shines on expansion plans

THE stock of Titan Industries has been buzzing around the bourses all week. The stock touched its 52-week high of Rs 454.90 on Friday and ended trade at Rs 447.95. The stock rose over 8 per cent during trade today. Overall, the stock has appreciated by 40 per cent in the last month.

Dealers say that interest in the stock is because of potential expansion plans of the company. The company is also considering some equity infusion to meet the requirements for these plans. The company is seeking to expand into the semi-urban and rural markets and hopes to explode the market for watches in India. The company has convened its board meeting on July 20 to consider its options of equity infusion.

Aluminium scrips volatile on price fall hopes

THOUGH the stocks of aluminium companies are currently trading in the green, dealers say that these counters are getting jittery. Market expectations of a drop in prices of aluminium are getting stronger and investors are jittery about these stocks, according to dealers. Hindalco posted a marginal gain of 0.4 per cent to close at Rs 1,216.05. The stock has been trading in a volatile manner for the last several sessions. Volumes have been dwindling. The share price of National Aluminium Company rose 1.78 per cent and ended at Rs 146. About 3 lakh shares were traded on the BSE.

Bourses recover on short-covering

THE bourses opened strongly on Friday, after plunging to a six-week low on Thursday after the bomb blasts in London. Dealers say that the 80-point rise in the Sensex in the morning was contributed largely by players covering their short positions from Thursday. There were concerns that Thursday's fall could trigger off widespread corrections in the market. But liquidity and stability of fundamentals kept the momentum in the market going. Though participants have been anticipating a 500-800-point correction in the Sensex, it has proved elusive so far.

Veena Venugopal

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Fund houses pitching for built-in ELSS option

PNB open to shedding stake in UTI MF

Mastergain is now UTI Equity Fund

Range-bound movement

Markets recover from London shock — Sensex gains 67 points

Hinduja TMT finding favour among investors

Titan Ind shines on expansion plans

Jyoti Structures jumps on talk of Reliance Energy hiking stake

MosChip mulls FII cap hike

Metal, banking, pharma buoy markets

IL&FS offer subscribed 29 times

HI-REF announces closing