Financial Daily from THE HINDU group of publications
Saturday, Oct 04, 2003

News
Features
Stocks
Port Info
Archives

Group Sites

Markets - Stock Markets
Columns - Ear to the ground


Polyplex shines on export hopes

Dinesh Narayanan

SOME investors with very bullish outlook were accumulating Polyplex Corporation shares on Friday. According to dealers, a couple of mutual funds as well as a big broker were buying large quantities of the stock of the polyester filmmaker (biaxially-oriented polyester film).

Early this year, Polyplex had commissioned a new PET film plant with a capacity of 15,000 tonnes per annum in Thailand. The Delhi-based company had also plans to spend $30 million to double the capacity of the Thailand plant and invest in backward integration.

Dealers expect the company, which has a marketing joint venture in the US, to show good export-led growth this year. Nearly 50 per cent of the company's revenues are generated from exports, mainly to Europe and the US. It had posted a net profit of Rs 4.5 crore in the quarter ended June 30, 2003.

The stock closed more than 10 per cent higher on Friday at Rs 115.65 than its previous close on the NSE. While the traded volume on the NSE stood at 3.45 lakh shares, it was more than 2 lakh on the BSE.

Garden Silk up on growth talk

A COUPLE of retail brokers are recommending Garden Silks to their clients. They believe the company would show good export-led growth in the coming quarter.

According to dealers, there is also some mutual fund interest at the Garden counter.

The stock closed almost 11 per cent up on the BSE at Rs 44.15.

While two lakh shares changed hands on the NSE, the traded volume was near 1.65 lakh shares on the BSE.

Broking firm backs Vimta

A Mumbai-based brokerage has put a strong buy on the stock of Vimta Labs. The company, which is engaged in contract research and testing of pharmaceuticals and agro-chemical products, was up about 2 per cent on the BSE on Friday. It closed at Rs 119.70 with about 26,000 shares traded.

Article E-Mail :: Comment :: Syndication

Stories in this Section
Bull onslaught


Sensex at 3-year high, breaches 4,500 mark
Omax Auto gains on export thrust
Polyplex shines on export hopes
SKF Bearing gains momentum
HPCL: Outlook positive, buy Oct futures
FII investments in equities reach an all-time high
Pvt placement of debt securities — SEBI unveils fresh norms for listed companies
Sensex crosses 4,500-mark on allround buying


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |

Copyright 2003, 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