ASIAN Electronics, a company manufacturing energy conservation products, was locked in the five-per cent upper circuit on Wednesday. The stock closed at Rs 225.10 on BSE with volumes of 16,174 shares. On NSE, it closed at Rs 226.05 with volumes of 15,836 shares.
Dealers said there was buying interest in the stock on expectation of good business prospects for the company's products. The company has developed products, which help in saving electricity. It has also developed products through which monitoring and saving of electricity can be done through computers. It has been getting orders for these products from various offices and shopping malls. The talk is that for some of the products, it has received good export orders too.
Several broking firms have come out with `buy' reports in the last few months.
Betting on hidden `value'
BINANI Industries is being accumulated by some market players in the last few days. Due to the buying, the stock rose 5 per cent at Rs 58.55 with volumes of 5,802 shares on the BSE.
Dealers said the interest in the stock has come after J P Morgan Chase took stake in Binani Cement, a subsidiary of Binani Industries.
The talk is that the price at which J P Morgan Chase has picked the stake is much higher than overall market cap of Binani Industries. Moreover, the de-merger of Binani Industries that will result in shareholders getting shares of Binani Cement and Binani Zinc (also a subsidiary of Binani Industries) would result in unlocking the value of the company's business.
THE counter of recently listed company Southern Online Biotechnologies, a company into bio-fuels, is on downward move since it listed on Monday at Rs 17. On Wednesday, the stock was down 11.56 per cent at Rs 9.95 with volumes of 24.04 lakh shares.
Dealers said the fall in the stock price was on talk that some foreign investors were selling the shares. There is also talk that some investors who were stuck in past are selling the shares.
The stock was earlier listed on Hyderabad Stock Exchange and had low liquidity in the stock.