Financial Daily from THE HINDU group of publications
Saturday, May 07, 2005
Columns - Ear to the ground
Havells surges on strong growth
THE counter of Havells India, a company into electric circuit breakers and other electrical equipments, touched its 52-week high on Friday.
The stock closed at Rs 341.85, up 4.54 per cent, on the BSE with volume of 51,718 shares and on the NSE it ended at Rs 341.85, up 5.12 per cent, with volume of 2.12 lakh shares. Dealers said the strong growth by the company has attracted interest of market players. The market talk is that several institutional investors have also shown interest in the stock.
The company is likely to show good growth in topline and bottomline in the current fiscal. This is primarily due to the new business of electric fans and lighting business doing well. This segment is expected to show growth of more than 40 per cent in the current fiscal, feel market players.
Wheels jumps on revived interest
WHEELS India is the new auto component company that has caught the attention of the market players. The stock, which has been ignored by the players in the market rally in the last one year, is on accumulation mode.
The market buzz is that among all the auto ancillary companies, the stock is comparatively undervalued. Outlook for its products, wheels, is bright considering the good growth for automobiles sector. Moreover, the stake of Sundaram Finance in the company is also adding to its credibility. Sundaram Finance holds 13.51 per cent stake in the company and is one of the promoters.
The interest in the stock is seen from the sharp rise in the price in the last one week. It has gained 28 per cent with volume shooting more than 20 times during this week. On Friday, the stock gained 8.52 per cent at Rs 350.80 on the NSE with volume of 57,105. The stock is not listed on the BSE.
Simbhaoli driven by MF support
SIMBHAOLI Sugar Mills stock has caught the attention of select mutual funds. Market talk is that a leading private sector mutual fund has mopped up more than 4 lakh shares of the company since April onwards. This fund is likely to pick more shares of the company.
If the market talk is to be believed, some more deals are likely to be seen in the counter. This buying support has driven the stock from Rs 70 to over Rs 80 this week. On Friday, the stock gained 1.24 per cent at Rs 81.90 on the BSE with volume of 2.64 lakh shares.
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