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AFTER a long time, watch and jewellery maker Titan Industries stock suddenly shot into limelight on Monday.

Dealers said there was some active buying by a leading institutional investor. The reason for the buying was on the possibility of gains from the company's gold inventory due to the rise in the gold price over the last one month. Titan has a jewellery division under Tanishq brand. In addition, the talk is that the introduction of various new watch models by company has pushed the sales of the company in the last few months. This institutional investor is bullish on the counter on back of strong brand equity of the company products both in the local and international markets.

The stock closed sharply higher at Rs 80.45, up 17.10 on the BSE with volume of 7.19 lakh shares and on the NSE it closed at Rs 81.50, up 19.15 per cent.

Pumps launch boosts MRPL

AFTER Bongaigaon Refinery, market players have turned active buyers in Mangalore Refinery counter.

Dealers said the interest in the counter is mainly due to two reasons. First the players are comparing the valuation of MRPL with Bongaigaon Refinery and they see that the valuation of the company is much lower than Bongaigaon despite having a higher refinery capacity. Another factor, according to dealers, is the soft launch of petrol pumps by the company in Bangalore. The talk is that after the soft launch, it would be aggressive in setting up petrol pumps with the support of its new parent ONGC.

The stock of MRPL closed at Rs 29.85, up 10.15 per cent with volume of 26.17 lakh shares on BSE and on NSE it closed at Rs 30, up 10.91 per cent with volume of 88.79 lakh shares.

MFL gains on sell-off hopes

MADRAS Fertiliser Ltd (MFL) is the new stock that is being expected by market players to be put on the blocks by the Government. The talk is that the the Government's 58.5 per cent stake would be on sale shortly.

Dealers said the expression of interest has already been invited and the disinvestment could happen soon. Talk is that the bidding for the Government stake would be aggressive at a price much higher than the current ruling market price. In addition, the restructuring of its loans and waiver on the interest payment would also help the company financials in the current fiscal.

The stock closed at Rs 28.05, up 10 per cent with volume of 1.94 lakh shares on the BSE and on the NSE it closed at Rs 28.30, up 10.12 per cent with volume of 9.78 lakh shares.

Virendra Verma

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