Financial Daily from THE HINDU group of publications
Thursday, May 26, 2005
Columns - Ear to the ground
Radico Khaitan up on global pact hopes
The stock of Radico Khaitan has been moving up with a lot of buying interest. The speculation around the stock is that the company is close to announcing a distribution agreement for an international spirits brand. The agreement is expected to give the company exclusive distribution rights for the whole country with royalty payments to be made to the parent of the brand.
The stock gained Rs 22.35 on Wednesday, netting close to 7 per cent gain. It ended at Rs 342.40, after touching a high of Rs 354.
Volumes have also been steadily climbing with the BSE turnover exceeding Rs 20 lakh and Rs 14 lakh for Tuesday and Wednesday, respectively.
Order talk lifts Paramount up
THE stock of Paramount Communications has been buzzing on the bourses lately. The stock touched its 52-week high of Rs 31 on Tuesday. Though it shed a little on profit booking subsequently, dealers say that there is a lot of interest in the stock.
The company, a manufacturer of jelly filled telephone cables, along with its sister concern Paramount Wires and Cables Ltd, is expecting to win a Rs 9-crore deal from BSNL. In this bid, the order value for Paramount Communications is expected to be Rs 3.6 crore and that of PWCL would be Rs 5.4 crore.
With BSNL and MTNL seeking to enhance their broadband Internet services, Paramount envisages a large chunk of business coming through to them from these players.
The stock ended on Wednesday marginally lower at Rs 25.20 against the previous day's close of Rs 26.15.
Bhandari Hosiery betting on order deal
SPECULATION that retailing giant Wal-Mart is placing a large order for its products has buoyed the stock of Bhandari Hosiery. The stock touched its 52-week high of Rs 10.45 on Wednesday. Volumes of trade have also picked up with BSE reporting exchange of over 30,000 shares.
In fact, the performance of this Ludhiana-based company had been fairly lacklustre on the bourses so far. Dealers say that the sudden activity indicates that operators are picking up the stock ahead of the announcement about the potential Wal-Mart deal.
The stock closed the day at Rs 9.95 against the previous day's close of Rs 9
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