Date:30/10/2004 URL: http://www.thehindubusinessline.com/2004/10/30/stories/2004103002221500.htm

Back Harig Crankshaft up on turnaround hopes

HARIG Crankshaft has been attracting a lot of investors' interest despite the company making losses.

Dealers said the buying is from select investors, who feel that the turnaround of the company is likely to happen soon and a strategic investor might come in . The talk is that either a private equity investor or some FIIs might take a stake.

Recently, the company has decided to make preferential issue to some investors. However, it has not yet made public these details. There is also the buzz that once the investors put in money into the company, financial institution IFCI might clear the company's corporate debt restructuring.

On Friday, the stock gained 4.86 per cent at Rs 26.95 on the BSE with volumes of 71,814 shares.

Statin brings cheer to Themis Medicare

WITH market interest in mid-cap pharma companies gaining momentum, a stock in this category that has attracted attention is Themis Medicare.

Dealers said the company's revamped focus on statins is the main reason for the interest of market players. The talk is that in the next few quarters, the growth for the company would be very good. The stock price may increase further as several institutional investors are taking interest in the stock, dealers said. On Friday, the stock gained 4.28 per cent at Rs 215.75 on the BSE with volumes of 18,509 shares.

China slowdown fears hit metal stocks

THE Chinese central bank decision to increase the interest rate had a negative impact on the stock price of metal companies in India. The biggest impact of this was on non-ferrous metal producers such as Hindalco, Nalco, Sterlite Industries and Hindustan Zinc. The view is that there is possibility of slowdown of Chinese economy which in turn could affect the price of metals, as China is the biggest consumer of the metals.

But dealers said selling in these stocks was more of a panic reaction. Most of the companies have been doing well and all of them are going for capital expenditure, dealers said. In fact, several institutions were purchasing the shares of the metal companies.

Virendra Verma