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Arushi Sen

The stock of Ciba Specialty Chemicals India Ltd, has been seeing a lot of buying activity of late and has been rising rapidly on the BSE.

According rumours doing the rounds in the market, the company will soon bag a big order from a European company, which has led to increased interest by investors and has been pushing up the stock price.

The stock, however, fell 3.06 per cent on Wednesday in line with general market condition. Yet, for the month, the stock is up by over 60 per cent and is up 47.92 per cent week-on-week. The stock reached its 52-week high on Tuesday at Rs 417.20.

According to analysts tracking the sector, the fourth quarter results of the company, to be announced shortly, are expected to be good, leading to a continued interest in the stock. The two-week average quantity of shares being traded on the BSE is 77,439.

When contacted, the company refused to comment on the speculation.

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