Date:26/08/2005 URL: http://www.thehindubusinessline.com/2005/08/26/stories/2005082602821500.htm

Back Haldyn Glass gains on plastic bags ban hopes

HALDYN Glass added new sparkle on the stock market as the impending ban on plastic carry bags by the Maharashtra Government raised expectations that use of glass packaging would increase and the company would be benefited.

The stock closed with a gain of 6.07 per cent at Rs 72.50 on the BSE. The company's recently operational captive power plant is also expected to generate savings.

On an equity base of Rs 5.37 crore, the company's EPS stood at Rs 2.62 in the quarter to June 30, 2005.

According to a section of market players, the expected EPS for the current fiscal, without considering the recent positives, may be Rs 17.

Chinese foray holds it firm

PEARL Global, one of the large garment exporters, holding firm on reports that its Chinese joint venture has started operations recently.

The stock, which posted its 52-week high on August 22 at Rs 125, finished at Rs 107.35 on Thursday, after touching the day's high at Rs 109.95 on the NSE.

According to market sources, the 5-million piece Chinese unit for soft separates (clothing made from soft fabrics designed to be worn in combination with other items) would augment sourcing of products and increase profitability of the company.

The Gurgaon-based company exports men's, women's and kidswear.

Betting on carbon trading

CHEMPLAST Sanmar has raised market hopes of entering league of Indian companies such as SRF, which have started generating additional revenue from carbon trading.

The company, which manufactures carbon-absorbing elements such as chloro methanes, according market sources, may join the units of carbon credit sellers.

The steadily rising rate of carbon credit per unit in the global market has also bolstered such hopes.

The stock finished at Rs 95.85, with a gain of 2.13 per cent.

Jayanta Mallick