Heard on the street

Heard on the street

Punters zoom in on Time Technoplast Shares of Time Technoplast, a firm specialising in polymer products, witnessed a flurry of activity on Tuesday. On the National Stock Exchange (NSE), the stock rose 13.3% to close at Rs 43.05, with around 58 lakh shares changing hands. This included a bulk deal of 50 lakh shares, with Deutsche Equity Fund being the seller, according to the disclosure on the NSE website. No details of the buyer(s) were revealed. Market talk is that a clutch of mutual funds picked up the block on offer, with Reliable Mutual Fund accounting for a sizeable chunk. The company reported an earnings per share (EPS) of Rs 3.30 for FY09, and the EPS for the first half of the current financial year has not been spectacular at Rs 2.16. Talk is that the fund has been aggressively buying mid-cap stocks recently in anticipation of the next wave of bull run in the segment. MF distributors may again be left out in the cold The mutual fund industry, which is still to come to turns with the no-load regime, has been in the news of late following a debate over the need for a no-objection certificate (NoC) from an investor seeking to change distributors. With the market regulator clearly displeased with what it views as a restrictive trade practice, the industry and, in particular, the asset management companies and distributors have come under the regulatory scanner for following a practice which is against investor interest. The buzz on the street is that the AMFI-appointed committee (comprising 2-3 fund houses) has put forward the results of its analysis to Sebi. Initial feedback indicates that the requirement for an NoC will be done away with but the new distributor will not get trail commissions. The news has evoked mixed reactions from the distributor community. Most of them feel that without the trail fees there will be no incentive for a distributor to service his client. The ball is now in Sebi’s court. Motilal Oswal sales head joins to Abu Dhabi fund Jayesh Parekh, a former top institutional sales official at Motilal Oswal Financial Services, is believed to have joined Abu Dhabi Investment Authority (ADIA), a sovereign wealth fund owned by Abu Dhabi. However, ET could not confirm the role of Parekh, who was rated the top salesperson for India in the AsiaMoney Brokers poll recently, in ADIA. Earlier, ADIA had roped in Mihir Vora, equities head of HSBC Asset Management, as a fund manager. (Contributed by Santosh Nair, Deeptha Rajkumar & Nishanth Vasudevan)

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Src:Economictimes, Valenotes

Check out 12 attractive stocks of low-profile sectors

Check out 12 attractive stocks of low-profile sectors

Companies with attractive growth opportunities 7 Dec 2009, 1025 hrs IST

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Kiran Kabtta Somvanshi of ET Bureau Little tracked sectors like glass, paper, basic industrial materials and packaging offer stocks with attractive growth opportunities. An ETIG study shows that there are at least dozen good companies belonging to such low-profile sectors like glass, paper, abrasives, electrodes, packaging and others. The following 12 companies, while being relatively small in size, hail from sectors that are typically clubbed under the category of 'miscellaneous'. Check out the power-packed dozen companies. Next >>

ABC Paper 7 Dec 2009, 1025 hrs IST

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Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History This Rs 200-crore Chandigarh headquartered company is engaged in the manufacture of wood-free writing and printing paper through the use of wild vegetations and agro-residues. The growth in the value-added paper segment in the country presents an attractive opportunity for this company with an unconventional business model. From making a loss in FY06, the company has grown to register a profit of Rs 14 crore in FY09 and Rs 18 crore for the trailing twelve months ended September 2009. The company has also paid dividend in last three years with the average payout ratio of 15%.

For More On this @ Check out 12 attractive stocks of low-profile sectors

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Src: Economictimes.Indiatimes