Date:27/07/2006 URL: http://www.thehindubusinessline.com/2006/07/27/stories/2006072703461700.htm

Back Matrix Labs up on stake sale talk

Our BureauDeeptha Rajkumar

Rumours of a stake sale/takeover resurfaced at the counter of Matrix Laboratories driving prices up by more than 4 per cent on the BSE.

The company, which had sometime back considered taking over Stride Arcolab, is back on the market radar on takeover/acquisition talk.

According to market sources, the company has a good business model and as such is a prime target.

At these levels the stock is also considered fairly valued by analysts.

Dealers also said with several FIIs and a leading bull operator holding a large amount of shares of the company, any such talk would prop up the counter.

Among FIIs, Merrill Lynch Capital Markets Espana holds around 5.57 per cent shares of the company while Rakesh Jhunjhunwala has around 1.22 per cent share.