Parent’s show of strength boosts Thomas Cook A series of positive developments helped shares of tour operator Thomas Cook (India) jump Around the same time last year, the business was dull as a result of the global financial crisis and the subsequent Mumbai terror attacks. But what appears to have helped the counter on Monday was the strong set of numbers put out by the company’s European parent Thomas Cook for the full year ended September 30, 2009. Thomas Cook (India) touched an intra-day high of Rs 67 and low of Rs 59.70 before closing at Rs 64.75 on BSE. Institutional buying lifts Man Aluminium After two sessions of harsh selling, institutional investors started buying shares of Man Aluminium at lower prices in sizeable quantities. Man Aluminium shares were pounded on bourses last week (post-reports of Dubai debt debacle) as investors feared Dubai Bank PJSC, which holds 4.3% in the Indian aluminium company, would dump its India equity holdings, including Man Aluminium, to make good their losses in Dubai. Firm aluminium prices also supported the shares of the company. The near-month aluminium contract on MCX was trading at Rs 93.25 per kilo, up by Rs 0.70 from Friday’s close. Shares of Man Aluminium ended 1.9% higher at Rs 42.90 on the BSE on Monday. Earnings growth hopes trigger demand in Marico Institutional investors have been active in the Marico counter on hopes of better prospects for the company, after a leading Mumbai-based broking house said the company would sustain earnings growth amid national rollout of new products. In its research report, the broking house said the company’s strategy to reinvest savings in brands will help it post better volume growth even as the topline would moderate due to diminishing price growth. Recently, FII Arisaig Partners acquired nearly 17 lakh Marico shares to raise its stake to 5.2% through open market purchases. The stock has been seeing some action in the current market though it has underperformed the recent bull run. Marico closed marginally up at Rs 103.5 on Monday. The delivery ratio, which reflects long-term investor interest in a particular stock, has been healthy between 45 to 65% during the past few days. Contributed by Reena Zachariah, Shailesh Menon & Vijay Gurav | |
Src: Economictimes