Date:03/12/2005 URL: http://www.thehindubusinessline.com/2005/12/03/stories/2005120302961500.htm

Back Order talk keeps Hindustan Construction strong

HINDUSTAN Construction on Friday shot up by around six per cent with surge in volumes in anticipation of a fresh order. The stock finished at Rs 121.05, a record high after it was split.

The stock split, from Rs 10 each to Rs 1 each, took effect last month. The counter logged a traded quantity of 4.61 lakh shares on the BSE against its fortnightly average of 1.26 lakh shares.

As per unconfirmed market talk, the new contract is significant in terms of its already increasing order book position. Among the recent major contracts bagged by the company are infrastructure and road projects in Himachal Pradesh, Jammu & Kashmir and Uttar Pradesh.

GSFC active on fund buying

GUJARAT State Fertilisers & Chemicals was active on Friday on accumulation by a local mutual fund. The stock recorded a traded quantity of 1.85 lakh shares against the two-week average of 1.34 lakh shares on the BSE and gained by over one per cent to close at Rs 153.85.

According market sources, one of the currently invested mutual funds has been increasing it's holding in the company.

As on September 30, 2005, Prudential ICICI Trust had 4.57 per cent stake, while two schemes of Reliance Capital Trustee - Reliance Vision Fund and Reliance Growth Fund - held 2.44 per cent and 1.38 per cent respectively

Torrent Pharma at new high on growth hopes

TORRENT Pharma on Friday created a 52-week high on the BSE at Rs 675 before closing at Rs 663.85, up 2.30 per cent. In the past one week, the stock has gained around 10 per cent.

The market is expecting strong growth from the company, particularly in terms of new products and research.

According to a company source, it has started the process of transferring the product registrations to India from Germany, which came into its fold through a recent acquisition.

Torrent Pharma GmbH, a wholly owned subsidiary of the company in Germany, has acquired Heumann Pharma GmbH & Co Generika KG, a marketing and distribution company. Heumann has a range of generic pharmaceutical products registered in Germany in its name and reported sales of euro 50 million in the financial year ended November 30, 2004.

Expectations are also building up on the company's R&D effort on a molecule for cardio-vascular ailment, after it snapped collaborative attempts with Novartis AG.

Jayanta Mallick