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BL Research Bureau

SHAREHOLDERS of Clariant (India) can consider booking profits at the current price of Rs 170. Re-entry may be considered at lower levels. The Clariant stock has been a traditionally low volume, not-so-volatile counter.

The recent spike in the stock's price is likely to fizzle out when the share starts trading ex-dividend. For 2002-03, a dividend of 100 per cent, including a special dividend of 25 per cent, has been recommended.

Clariant (India), an affiliate of the Swiss multinational Clariant AG, is a leading manufacturer and supplier of dyes and speciality chemical products for the textile, leather and paper industries. Its performance is influenced by the vagaries of the leather and textiles sectors.

It has had to contend with the increasing pressure on its margins due to the decline in value of the rupee against European currencies. Clariant's performance this fiscal, too, will continue to be consistent, but the room for upside may be limited from present levels.

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