Financial Daily from THE HINDU group of publications
Wednesday, Dec 07, 2005
Financial Daily from THE HINDU group of publications Wednesday, Dec 07, 2005 |
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Markets
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Stock Markets Columns - Ear to the ground Timken up on consolidation hopes
TIMKEN Ltd is moving on business consolidation hopes, according to market sources. Though the stock on Tuesday closed marginally up at Rs 153.25, it has gained around 22 per cent in the last one month. The market expectation is that with its minority stake sold in NRB Bearings, Timken's foreign promoter would focus more on Indian market through Timken Ltd. It is also expected that promoters would make fresh and substantial investment in the company.
GE Capital rises on better growth SOME of the market participants appear to bet on GE Capital on expectation that it is looking for stepping up it business growth and presence in India through inorganic route. The stock finished at Rs 78.40, up two per cent. It has moved up by over 20 per cent in the last one month. One of the world's largest finance companies, GE Capital is geared to encashing unfolding business opportunities in the country, according to banking industry sources.
Blue Coast Hotels: Big players keen on acquisition THERE is a strong speculation in the market that certain big players are showing keen interest in buying out Blue Coast Hotels & Resorts Ltd, which has a property in Goa. The company has reported losses in the last two quarters to September 2005 and has extended the accounting period by six months to March 2006. It has a management contract with Park Hyatt for running the property. The promoters as on September 30, 2005 held around 46 per cent stake in the company. The stock has moved up by 27 per cent in the last one month and 12 per cent in the last one week on very thin volumes. On Tuesday, it closed at Rs 83 on the BSE, up 2.47 per cent.
Jayanta Mallick
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