Financial Daily from THE HINDU group of publications
Wednesday, Aug 11, 2004
Columns - Ear to the ground
Pioneer Embroideries Retail focus reads well
THE counter of textile company Pioneer Embroideries is being accumulated by a section of the market. Some buying in the counter was seen on Tuesday.
Dealers said the interest in the stock is due to the retail initiative the company has undertaken. Talk is that the company is setting up retail outlets in various parts of the country to sell its embroidery products under the brand Hakoba.
Stock is also attracting interest due to the overall boom in textile stocks.
A leading domestic broking firm has started recommending the stock. This firm believes that the value of Hakoba brand is still not reflected in the stock price and this is the reason for the stock being undervalued.
On Tuesday, the stock price of the company gained 5.49 per cent at Rs 62.50 on the BSE with volumes of 13,779 shares.
Gains on order positions
THE counter of engineering company Praj Industries was locked in the 5-per cent upper circuit filter for the second day in a row.
On Tuesday, the stock closed at Rs 175.25 with volumes of 1.08 lakh shares on the BSE; on the NSE, it closed at Rs 175.30 with volumes of 1.44 lakh shares.
Dealers said the interest in the stock has again revived in the last couple of days due to the strong order book positions.
Talk is that the company has confirmed order book position for the next 15 months on the expanded capacity. This is likely to result in strong growth of the company's topline and bottomline in the next couple of years.
Satin effect spells magic
THE shares of Themis Medicare are back on the buy list of some of the market players. Dealers said the interest in the stock is due to the recent merger of its subsidiary, which is engaged in satin. Talk is that satin is a very high growth business and this is the reason for the stock of the company in demand.
The interest in the shares of Biocon, which is a major player in satin, is also the reason for the stock on the radars of some players. Dealers said a leading market player is accumulating the stock over the last one month.
On Tuesday, the stock price of the company gained 9.97 per cent at Rs 118.55 on the BSE with volumes of 13.981 shares.
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