ABB
Friday Close: Rs 239.90
Previous Close: Rs 215.05
The engineering major has moved up smartly on the news of some top notch executives from its parent, joining ABB in India. This is seen as a highly positive move because the parent is believed to be interested in making the Indian subsidiary as one of its key global outsourcing base in future. The scrip is expected to stay buoyant over the next few weeks.
Grasim
Friday Close: Rs 286.70
Previous Close: Rs 302.95
Grasim's gameplan for its investment in Larsen & Toubro(L&T) took a severe beating as Securities Appellate Tribunal (SAT) upheld SEBI's decision to stall the open offer.
With open offer being blocked, Grasim will find it difficult to gain control over the L&T's cement business which is believed to be its primary objective. The scrip is expected to languish until there is more clarity on the issue.
IPCL
Friday Close: Rs 73.45
Previous Close: Rs 67.25
After hitting a new low on news of strike at one of its plants, the scrip has seen some buying due to the expectations of a better performance.
The primary reason being that the petrochemical cycle is on a upturn. This apart, the company is expected to also benefit under its new management, Reliance, which has a sound track record in the industry.
NIIT
Friday Close: Rs 165.85
Previous Close: Rs 146.95
NIIT has been moving up on the news of huge order from a UK-based financial institution. This was more than enough to drive the stock which is one of the favourites among punters. Given the recent spurt in infotech stocks, the scrip is expected to witness some more buying interest in near future.
Tata Tea
Friday Close: Rs 174.00
Previous Close: Rs 161.20
The sentiments at the Tata Tea counter has improved considerably with the rising tea auction prices in the last one month. This is estimated to lead to better performance for Tata Tea which gains substantial portion of its revenues from trading in tea. Given the uptrend in tea prices, the scrip could witness some more buying in near future.
