Essel Packaging: Quite a bundle

Reshma Krishnan

IN the week gone by, the stock of Jaiprakash Industries was one of the prominent gainers. Indications that the promoters of the company may hike their stake could have led to an appreciation in the stock price.

The increase could also have been influenced by the move to de-merge the cement business into Jaypee Rewa Cement. The stock closed up Rs 4.15 or 11.4 per cent to end the week at Rs 40.50 from the previous week's close of Rs 36.35.

Essel Packaging: The scrip shot up during the course of the week. It appreciated by Rs 30.95 or 7.2 per cent to end Friday's trading session at Rs 460.35 from the previous week's close of Rs 429.40. This sharp rise could have been caused by the proposal to merge Essel Packaging with Propack of Switzerland, which will create the largest laminated tube manufacturing company in the world.

Elbee Services: The company was out of investors' favour during the week. It fell 16.7 per cent or Rs 15.60 to end the week at Rs 77.30 from the previous week's close of Rs 92.90. The fall came despite a recent memorandum of understanding signed by the company with BAX Global India for exchange of business.

Knoll Pharma: The company saw a marginal rise in share price. It rose by Rs 10.95 to close at Rs 309.20 from the previous week's close of Rs 298.25. The rise could have been triggered by possible change in ownership at the global level. There have been indications that BASF AG might sell its stake in the company.

Gesco: Gesco has been in the news for quite some time now. There was a marginal increase in the value of the scrip during the week. The rise can be viewed in the light of an indication by the Renaissance Group that it could raise the open offer price for Gesco Corporation to over Rs 50 per share. The share rose Rs 1.60 to end the week at Rs 45.05 from the previous week's close of Rs 43.45.

Snowchem India: Snowchem India saw a small increase in share price over the course of the week. It went up by Rs.1.15 to close the week at Rs.53.75 from the previous week's close of 52.60. This rise could have been on the back of the possibility of the company entering into a tie-up with a foreign company.

Ranbaxy Lab: This company saw a marginal increase in the value of its scrip during the course of the week. The stock went up Rs 6.85 to end the week at Rs 782.10 from the previous week's close of Rs 775.25. Reports that the company is looking to acquire US companies and brands could have contributed the rise.

Among other companies that saw a jump in their share price was Infotech Enterprises. The scrip saw an increase of Rs 43.80 to end the week at Rs 259.70 from the previous week's close of Rs 215.90.