Hive-off plans move Grasim up 11.08 pc

Reshma Krishnan

Grasim: This company saw its share rise considerably during last week. It rose by Rs 26 (11.08 percent) to close the week's trading at Rs 260.65 from the previous week's close of Rs 234.65.

This interest could have been fuelled by a proposal to dispose of its software arm, Birla Consultancy Services, into a subsidiary; as well as the general interest in cement stocks.

Rhone -Poulenc: This company saw itself in investors' favour during the course of last week. Its share price went up Rs 40.65, 5.4 per cent to end the week at Rs 781.10 from the previous week's close of Rs 740.45. This rise could have been on the back of the possibility of a number of players staking interest in the controlling stake of Rhone Puolenc held by Aventis SA, France and that it might consequently lead to an open offer under the takeover code.

Finolex Industries: Finolex saw a marginal rise in value of its scrip. The price of the share rose by Rs 3.65 to close the week at Rs 25.70 from the previous Friday's close of Rs 22.05. This rise can be viewed in the light of the approved buy-back of up to 10 per cent of equity at a price not exceeding Rs 40 per share.

Kesoram Ind: This company saw a marginal fall in the value of its share price. It fell by Rs 1.75 to end the week at Rs 26.10 from the previous week's close of Rs 27.85. This was despite expectations that the possibility of the company selling its tyre business may create some interest in the stock.

Ind Swift Labs: This company was not in favour with the market during the week just gone and fell almost 12 per cent. It fell by Rs 4.65 to close at Rs 32.35 from the previous close of Rs 37. This fall in the value of the share came despite the UTI picking up an equity stake of 4.98 per cent in the company.

Philips India: Philips India witnessed a positive week with regards to the value of its stock. The value of its share went up by Rs 6.90 to end the week at Rs 102.15 from the previous week's close of Rs 95.25. This interest could have been on the back of a move by the parent company to enlarge the open offer to 49 per cent from the earlier level of 23 per cent at a price of Rs 105.

ICICI: ICICI saw itself in investors' favour during the week. The share price rose by Rs 6.50 (7.9 per cent) to close the week at Rs 88.50 from the previous week's close of Rs 82. This could have been on account of the indication that FII investment in the company is below the prescribed limit of 49 per cent, thereby attracting more investment.

Exide: This company saw a small rise in the value of its share. It went up by Rs 5.90 to close at Rs 108.90 from the previous week's close of Rs 103. This small increase in value could have been caused by the company's move to acquire units in other Asian markets as it could expand the revenue stream of the company.