Financial Daily from THE HINDU group of publications
Thursday, Dec 15, 2005
Financial Daily from THE HINDU group of publications Thursday, Dec 15, 2005 |
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Markets
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Stock Markets Columns - Ear to the ground Kemrock Industries gains on export order prospects Jayanta Mallick
The stock on Wednesday closed with a gain of 1.26 per cent at Rs 84.20 after touching its 52-week high at Rs 87.30 on the BSE. The counter attracted a traded quantity of 61,206 shares on the exchange. In the past one week, the stock has gained by over 11 per cent, and in the last one month, by 37.47 per cent. According to market sources, the company, which manufactures fibreglass reinforced plastics, is expected to bag orders from three European companies. Kemrock is currently servicing an order worth $12 million from Georgia Pacific of the US.
Buzz on `potential buyer' Has UB Engineering, a loss-making outfit of the UB group and reportedly on the block for sometime now, found a suitor of late? Though officials of the company admit ignorance about such a development, the market buzz was that negotiations with a potential buyer have been progressing. In the last one month, stock has moved up by 42.37 per cent and gained 13.67 per cent in a week, even though it closed marginally lower at Rs 42 on the BSE on Wednesday. The stock's traded volume on the bourse was 82,884 shares against the fortnightly average of 49,099 shares.
Huge volumes seen Ferro Alloys Corporation is witnessing huge volumes. The stock on Wednesday recorded a volume of 66.61 lakh shares on the BSE. In the last two weeks, it has clocked an average volume of 42.31 lakh shares. The talk doing the rounds on Dalal Street was that traces of platinum have been found at its Orissa mine area. The company has not announced anything to this effect to the stock exchanges. The last announcement made to the exchange said that on December 8, some 9.91 crore shares of rupee one each were allotted to promoters, including joint venture partners pursuant to a scheme of arrangement as per the rehabilitation scheme, sanctioned by the BIFR. The stock at close lost further value by around 10 per cent to Rs 14.85. Its 52-week low is Rs 14.55.
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