Financial Daily from THE HINDU group of publications
Sunday, Nov 30, 2003
Financial Daily from THE HINDU group of publications Sunday, Nov 30, 2003 |
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Investment World
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Stock Markets Markets - Stock Markets On the move G. Madhan
Tata Infotech (Rs 381): The stock rose 18.7 per cent on the back of good earnings growth in the recently concluded quarter. Reliance Capital (Rs 106): The stock appreciated 21.7 per cent on market talk that the company is planning to enter the banking arena. Igarashi Motors (Rs 73): The stock rose 40.4 per cent as the company plans to hive off its non-motor business into a separate company. SRF Polymers (Rs 38): The stock rose 14.3 per cent after the company announced an open offer to buy back 36.4 per cent of shares at Rs 40 per share. Petron Engg Construction (Rs 63): The stock appreciated 12.8 per cent after it bagged Rs 135-crore contract from Dangote Industries, Nigeria. Abhishek Ind (Rs 16): The stock rose 28.5 per cent after the company was exempted from paying the tax on cotton, to an extent of Rs 100 crore over a period of five years, purchased for the Terry Towel Expansion project. Ruchi Soya (Rs 90): The stock surged 45.3 per cent on expectations of better prices for its products, following the soya crop failure in the US market. Mukand (Rs 32): The stock gained 45.6 per cent, after it announced the closure of a forging unit in Kurla, which was earlier opposed by the labour commissioner. Vardhman Spinning (Rs 147): The stock rose 33.9 per cent. The stock has witnessed steady uptrend ever since Wal-Mart, an overseas retail chain, announced a fortnight ago that it was planning to source textile products from Indian manufacturers. Infotech Enterprises (Rs 167): The stock appreciated 30 per cent - the highest gainer among the information technology stocks. Balrampur Chini Mills (Rs 220): The stock rose 18.6 per cent after the company announced that it is commissioning a plant by the third week of December.
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