The Hindu Business Line : Mangalam Cement up on fund buying

MANGALAM Cement moved up by over 10 per cent on Monday on accumulation by some funds, dealers said. There was also considerable buying interest from investors on higher dispatches this month, they said.

The recent announcement that it has finalised order of setting up of captive thermal power plant of 17.5 MW also augurs well for the company, dealers said.

On the BSE, the stock closed at Rs 111.55, an increase of 10.01 per cent from Friday. The stock jumped by 22.18 per cent over a week's time from Rs 91.30 on February 13. The volumes on the counter were higher at 24.67 lakh shares, compared to the two-week average of about 9 lakh shares.

On the NSE, it closed higher by 10.40 per cent at Rs 111.75, compared to the previous close of Rs 101.35. Over 43 lakh shares changed hands in the counter.

Budget sops buzz moves Tata Steel

TATA Steel attracted buying interest on buzz that the Government was considering imposing anti-dumping duties on steel in the Union Budget, dealers said. The company will be the biggest beneficiary if the speculation turns out to be true, they said.

The steel major's stock closed at Rs 395.35, up 2.34 per cent on the BSE. Over 8.87 lakh shares were traded on the exchange. On the NSE, it rose 2.16 per cent to close at Rs 395.15. Volumes were over 28 lakh shares.

Grasim gains on stock split talk

GRASIM Industries gained on Monday on talk about stock split or bonus, dealers said. The buzz emanates from the fact that another A V Birla Group firm Hindalco had earlier announced stock split.

The company's shares also attracted buying interest on higher cement dispatches and good showing by its viscose staple fibre business, after subdued performance for whole of last year, they said.

The stock closed higher by 3.02 per cent at Rs 1,664.60, compared to Rs 1,615.85 on Friday. On the NSE, it gained 3.14 per cent to Rs 1,665.30, compared to the previous close of Rs 1,614.60. Over 77,000 shares were transacted on the BSE. On the NSE, the turnover was over 2.41 lakh shares.

Rajesh Abraham

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