Stocks in the news

The shares of Walchandnagar Industries appreciated by 22 per cent as the company fixed the record date for stock split and bonus issue. The company has fixed March 3, 2008 as the record date for a 5-for-1 stock split (from Rs 10 paid up to Rs 2 paid up) and a 1:1 bonus issue.

The stock gained by Rs 1,184.10 from Rs 5,463.30 to Rs 6,647.40 on the BSE, with 1.27 lakh shares changed the hands, during the week (68,530 shares were traded in the previous week).

The stock had touched a 52-week high of Rs 12,048.90 on November 7, 2007 and a 52-week low of Rs 1,240 on March 9, 2007. At the current market rate, the share price is up five times from its 52-week low and down 50 per cent from its 52-week high. The company is engaged in engineering, fabrication and manufacture of machinery for sugar plants, cement plants and boilers, heavy duty gears, mineral processing, special and general engineering equipment.

The company's net profit increased by 24.9 per cent to Rs 9.63 crore (Rs 7.71 crore) on a back of a 25.5 per cent rise in net sales to Rs 155.98 crore (Rs 124.28 crore) in the first quarter ended December, 2007.

Khoday up on acquisition buzz up

The stock of Khoday India appreciated by 25 per cent from Rs 195.05 to Rs 243.15 on the BSE and hit the upper circuit on three of the five trading days last week, despite a 4.25 per cent fall in the Sensex during the period.

The company proposes to acquire Khoday Properties, belonging to Khoday group, and has called a board meeting on February 15 to take the final decision. The trading volumes on the counter increased by 63 per cent, with 1.58 lakh equity shares changing hands last week.

The company's net profit more than doubled in the first nine months (April-December, 2007) of the current fiscal. It posted 169 per cent jump in net profit to Rs 7.88 crore (Rs 2.93 crore) during the first nine months of FY08.

The company is engaged in the manufacture and distribution of high quality alcoholic beverages for the Indian and overseas markets. It has also diversified into the growth-oriented spheres of today, such as electronics, engineering and construction, and sugar.