• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy
• Books
• Gallery

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

The stock of Macmillan India has been gaining sharply of late accompanied by higher trading volumes. It has jumped 31 per cent in the last one week despite a 9 per cent fall on Tuesday to end at Rs 72.75. Trading volumes also jumped to 1.12 lakh shares against its two-week average volume of about 76,000 shares on the BSE.

According to market grapevine, Penguin, which is part of Pearson plc, is likely to pick up a stake in the company. The company’s CFO could not be contacted as he was travelling overseas, the Company Secretary denied any such development. “The rumour is without any basis or foundation,” he added. The market, however, would not be dissuaded, it appears

The Pearson plc has been keen on expanding its presence in India. The owner of the ‘Financial Times’ newspaper and book publisher Penguin, Pearson Plc recently entered into an agreement to buy stakes in two Indian education companies – Educomp Solutions and TutorVista Global Pvt Ltd for $30 million.

K.S. Badri Narayanan

More Stories on : Stocks | Ear to the ground

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

Copyright © 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line