TITAN Industries has been moving from strength to strength on the bourses. The stock that was ruling at Rs 110.25 (BSE) levels has appreciated by about 47 per cent to its current levels of around Rs 162.

While some market participants attribute the run up in the counter to the rising gold prices, analysts are of the view given that the company has very limited carry forward in terms of inventory, this logic does not hold true. As of October 8, gold prices were ruling at $424 an ounce in New York.

However, analysts maintain that expectations of an equity restructuring are driving interest in this stock. This year is also expected to be a better one for the company.

The stock, which hit a 52-week high intra-day, ended at Rs 162.65, up 3.63 per cent, with around 2.23 lakh shares traded on the BSE. On the NSE, the stock closed at Rs 163.20, up 3.32 per cent, with around 4.29 lakh shares traded.

Piggybacks on price hopes

Expectations of strong Q2 results and talk of another round of price rise being in the offing ensured sustained interest in cement counters in an otherwise volatile market.

According to the market grapevine, cement prices should go up by Rs 5-Rs 7 per bag in the northern, western, eastern and central markets. These rumours appear to have infused more optimism into the second rung cement counters, given that there percentage return would be higher.

With the cement demand-supply reaching equilibrium, the market has been taking a more than positive view on cement stocks.

Analysts opine that prices have firmed up by 14-15 per cent over the past six months due to a reduction in supplies.

The stock of ACC ended at Rs 275.55 while GACL ended at Rs 363.95, up 1.72 per cent, with around 4.10 lakh shares traded on the BSE. Mangalam Cement closed at Rs 57.20, up 3.62 per cent, Ambuja Cement Eastern ended at Rs 42.10, up 4.21 per cent, and Shree Digvijay Cement at Rs 82.10, up 1.88 per cent, on the BSE.

Betting on numbers

Even though lower than expected quarterly results by select tech companies dampened overall market sentiment on Monday, the mood was one of optimism with regard Infosys Technologies.

Analysts predict that the company could report up to Rs 450 crore as net profit for this quarter. There is speculation that the company could further revise upwards their guidance.

However, brokers maintain that the counter could come in for some profit-bookings with the market already discounting this factor.

The stock ended almost steady at Rs 1,685 with around 3.5 lakh shares traded on the BSE.

Deeptha Rajkumar

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