The stock of Harrisons Malayalam touched its 52-week high of Rs 104.50 on Friday. It shed a little on profit booking before closing trade at Rs. 101.85, up by Rs 13.90, an appreciation of 15.8 per cent from Thursday's close.

The stock also saw robust volumes. BSE reported total quantity of 4.10 lakh shares traded while on the NSE, it saw 22.60 lakh shares being traded.

Dealers attribute the interest in the stock to the rising prices of rubber and tea. The businesses that the company is engaged in are expected to post higher growth rates.

Dealers anticipate robust figures for the company in the following quarters also. The buzz in the market is that the fundamentals of the company are improving. Higher revenues are expected and with sound management of costs, profit expectations have also been revised upwards.

Archies jumps on dividend hopes

The stock of Archies has been seeing a lot of buying interest lately. The stock closed at its 52-week high level of Rs 120.35, a 20-per cent gain over the previous day's close.

The board of Archies is meeting next week and market expectations are hovering around a "good" dividend announcement.

There is a lot of buying interest in the stock from foreign institutional investors also, according to dealers. They say that the company is a recently discovered mid-cap story.

FIIs currently have minimal exposure to the scrip. Dealers expect FII holding in the company to increase by 1-2 per cent in the short-term.

Veena Venugopal

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