Date:23/06/2006 URL: http://www.thehindubusinessline.com/2006/06/23/stories/2006062303041500.htm

Back Stewarts & Lloyds: Betting on orders

Shares of Kolkota-based Stewarts & Lloyds of India rose by 4.39 per cent to Rs 214 on expected boost in revenues through orders from parent Indian Oil Corporation.

Indian Oiltanking Ltd, a 50:50 joint venture between IOC and German major Oiltanking GmBh, holds 56 per cent stake in Stewarts & Lloyds.

The company will benefit over the long-term as it is sure to get big orders from promoters IOC and Oiltanking on an on-going basis, dealers said.

A major deterrent for the investors in Stewarts & Lloyds is the illiquid nature of the counter, they pointed out.

Dealers said the counter has also been attracting share accumulation by big investors over the last several months.

Rajesh Abraham