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13 August 2010
Heard on the street: Timken, Tata Motors
Delisting buzz sends Timken shares soaring
Shares of Timken India have risen around 29% so far in August on speculation the company may delist after buying back shares from public shareholders. Parent Timken Company holds around 80% in the Indian arm. The rumour doing the rounds is that a prominent Kolkata-based broker is active in the stock, which rose 8.5% to Rs 172.80 on Thursday. But some feel this is unlikely, as this broker is not known to take big bets in themes such as share buybacks.
A broker said the recent rally may have been in anticipation of good results in the June quarter, which was announced on Wednesday. Timken’s net profit rose about 80% to Rs 17.4 crore compared with the same quarter last year.
‘Smart’ operators seen exiting Tata Motors
SHARES of Tata Motors have been one of the best performers among large caps in the past three sessions, after the company’s earnings exceeded expectations. The buzz is that many of the astute names on Dalal Street, including a young broker who shot to fame in the past couple of years, and a suave broker who appeared on television frequently, have been active in the stock, of late.
If the talk of these players being active in the stock is true, investors in Tata Motors may have to brace for a sharp fall as and when they dump the stock. The stock, which rose 1.7% to a new high of Rs 1,024 on Thursday, has risen around 21% in the past six sessions.
Stake sale talk keeps HNIs busy with Mudra Lifestyle
High net worth investors have been buying shares of Mumbai-based integrated textile firm Mudra Lifestyle, of late. Grapevine has it that the company may sell a strategic stake to another textile firm. A senior company official declined to comment on the matter.
There is also talk that the treasury desk of a domestic PSU bank has bought a couple of lakh shares a few days ago. Brokers tracking the stock said that the company has recently completed its capex with an investment of over Rs 300 crore. The stock closed at Rs 48, up over 2% from the previous close.
A global PE may pick up stake in Shilpa Medicare
A GLOBAL private equity fund is likely to pick up a 10% stake in Raichur-based Shilpa Medicare for close to Rs 100 crore. The firm, which manufacturers and exports active pharmaceutical ingredients, fine chemicals and herbal products, is expected to make a preferential allotment to the private equity fund, said a person close to the development.
Shares of Shilpa Medicare rose 1% to Rs 351.30 on Thursday. It is learnt that Money Matters Investment was the advisor to the company for the proposed deal.
Contributed by Nishanth Vasudevan, Apurv Gupta & Reena Zachariah.
Shares of Timken India have risen around 29% so far in August on speculation the company may delist after buying back shares from public shareholders. Parent Timken Company holds around 80% in the Indian arm. The rumour doing the rounds is that a prominent Kolkata-based broker is active in the stock, which rose 8.5% to Rs 172.80 on Thursday. But some feel this is unlikely, as this broker is not known to take big bets in themes such as share buybacks.
A broker said the recent rally may have been in anticipation of good results in the June quarter, which was announced on Wednesday. Timken’s net profit rose about 80% to Rs 17.4 crore compared with the same quarter last year.
‘Smart’ operators seen exiting Tata Motors
SHARES of Tata Motors have been one of the best performers among large caps in the past three sessions, after the company’s earnings exceeded expectations. The buzz is that many of the astute names on Dalal Street, including a young broker who shot to fame in the past couple of years, and a suave broker who appeared on television frequently, have been active in the stock, of late.
If the talk of these players being active in the stock is true, investors in Tata Motors may have to brace for a sharp fall as and when they dump the stock. The stock, which rose 1.7% to a new high of Rs 1,024 on Thursday, has risen around 21% in the past six sessions.
Stake sale talk keeps HNIs busy with Mudra Lifestyle
High net worth investors have been buying shares of Mumbai-based integrated textile firm Mudra Lifestyle, of late. Grapevine has it that the company may sell a strategic stake to another textile firm. A senior company official declined to comment on the matter.
There is also talk that the treasury desk of a domestic PSU bank has bought a couple of lakh shares a few days ago. Brokers tracking the stock said that the company has recently completed its capex with an investment of over Rs 300 crore. The stock closed at Rs 48, up over 2% from the previous close.
A global PE may pick up stake in Shilpa Medicare
A GLOBAL private equity fund is likely to pick up a 10% stake in Raichur-based Shilpa Medicare for close to Rs 100 crore. The firm, which manufacturers and exports active pharmaceutical ingredients, fine chemicals and herbal products, is expected to make a preferential allotment to the private equity fund, said a person close to the development.
Shares of Shilpa Medicare rose 1% to Rs 351.30 on Thursday. It is learnt that Money Matters Investment was the advisor to the company for the proposed deal.
Contributed by Nishanth Vasudevan, Apurv Gupta & Reena Zachariah.
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Bharti Airtel, India Banks, Bajaj Hindustan
Hercules Hoists
Tata Motors, Bharti Airtel, India Banking
JBF Industries
Daily Fundamental Report - Aug 13 2010
Daily Technical Report - Aug 13 2010
GMR Infrastructure
Daily Technical Report - Aug 13 2010
Daily Market Outlook - Aug 13 2010
Src: DP blog, ET
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