Financial Daily from THE HINDU group of publications
Wednesday, Nov 23, 2005
Financial Daily from THE HINDU group of publications Wednesday, Nov 23, 2005 |
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Markets
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Stock Markets Columns - Ear to the ground Product price keeps Chemplast Sanmar firm
PVC manufacturer Chemplast Sanmar on Tuesday closed slightly down (15 paise) at Rs 83.26, after touching a day's high at Rs 85. According to market sources, the counter has been moving up recently on firm product price and possibility of accumulation of carbon credit in the future. The company is understood to be increasing it capacity also. The group's unloading of India Cements stake is seen as positive in terms of augmenting liquidity. The stock has posted a gain of 5.61 per cent in the last one week and 11.60 per cent in the past one month.
Accumulation seen in Macnally Bharat Macnally Bharat, one of the small-cap stocks, has seen quiet accumulation recently and more or less held firm on Tuesday in a falling market. The stock finished down one rupee at Rs 80.25. According to dealers, the stock has been witnessing gains on the backdrop of increasing demand for engineering services and equipment. The stock has gained around 21 per cent in the last one month on steady volumes. Against its two-week average traded quantity on the BSE of 40,992 shares, on Tuesday it clocked a volume of 34,070 shares.
Betting on order The market buzz is that Spectra Industries, a Maharashtra-located sheet metal manufacturer, is in negotiation with BHEL for a Rs 30-crore order. The company supplies sheet metals to automotive majors such as Tata Motors. The stock has seen a gain of 10.73 per cent in the last one month. It closed down at Rs 16 on the BSE. According to market sources, the order, if clinched, would be significant in terms of the company's balance sheet size.
Jayanta Mallick
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