Rally propels 9 stocks into Rs 1000-plus price club

The current bull run has seen nine scrips being added to the elite Rs 1,000-plus price list. On December 15, 2004, 19 stocks (all Rs 10-paid up) traded at above the Rs 1,000 per share mark.

The nine new entries include: Aeonian Investments, Anuh Pharma, Siemens, Nicholas Piramal, ITC, Grasim Industries, Aventis Pharma, Aban Loyd Chiles, and Asian Star Company.

Among the biggest gainer is a B2 group company, Aeonian Investment Company Ltd, whose price appreciated by 961.29 per cent from Rs 149.69 exactly a year ago to Wednesday's close of Rs 1,588.65.

The other surprise entry in this elite group is T group company, Anhu Pharma, whose price has appreciated by 166.11 per cent from Rs 535.50 to Rs 1,425 over the last one year.

Of the 19 stocks currently trading above Rs 1,000, eight stocks belong to the A group, seven stocks are from the B1 group, two are from the B2 group and one is from the T group.

MNC Company Aban Lyod Chiles stock has appreciated 137.23 per cent from Rs 477.40 an year ago to Wednesday's close of Rs 1132.55.

Domestic pharma company, Nicholas Piramal has appreciated 87.75 per cent from Rs 691.40 to Rs 1298.09, while the other big gainers include Aventis Pharma, up 75.48 per cent to Rs 1141.84, Siemens up 43.51 per cent to Rs 1301.05 and ITC up 30.16 oer cent to Rs 1127.05.

A few other shares are on the verge of making it to the list. For example, the Mercator Lines stock has appreciated 311.57 per cent from Rs 221.35 to Rs 911 on Wednesday, Bharat Forge has appreciated nearly 40 per cent to Rs 988, e-Serve has gone up by 38.11 per cent to Rs 959, while Madras Cement stock has appreciated 25.71 to Rs 914.50.

Vipul Sanghvi, senior manager, institutional sales at Fortis Securities said, "There are quality stocks available in bearish as well as bull markets. If the fundamentals of the company are good and the businesses are scalable in terms of both frontline and bottomline, the stocks will outperform the market. Also the credentials of the promoters are very important, he added."