BALMER Lawrie Investments, which holds around 67 per cent stake in the public sector Balmer Lawrie, on Monday, moved up as the market price gap between it and Balmer Lawrie widened.

A clutch of investors preferred to buy up the holding company's stock in keeping with market valuation of Balmer Lawrie.

Balmer Lawrie Investments closed at Rs 101.30, after touching the 52-week high at Rs 109, with a gain 7.31 per cent. In the last one month, Balmer Lawrie moved up from Rs 332 to Rs 400, while Balmer Lawrie Investments moved up from Rs 70.50 to the current level.

On Monday, the holding company's stock also witnessed a huge trading volume of 3 lakh shares on BSE.

Gains on US leaning

Hikal Ltd, which obtained USFDA approval recently for its Bangalore facility, has just begun to export APIs to the US.

According to market sources, the pharmaceuticals business of the company is set to witness a quantum jump this fiscal. The company also has put forward the drug master files (DMFs) with the US authority.

The stock moved up to close at Rs 569.75, up 2.10 per cent, on the BSE.

Promoter's plans help

Matsushita Lakhanpal is said to be moving up on market talk that the co-promoter Matsushita Electric Industrial Ltd is planning to launch a few new products from its global basket through this company in India.

The company currently manufactures and markets dry cell batteries. Matsushita, the Japanese electronics and capital goods major, which owns the Panasonic brand, is also present in India through Panasonic India.

The stock moved up to finish at Rs 81 on the BSE with a gain of 1.31 per cent.

Jayanta Mallick

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