First Winner gains on
talk of new project
FIRST Winner Industries, which was listed recently, is quietly gaining ground in the markets. For the past few days, the stock has gained handsomely at a time when other newly-listed companies have faltered. The reason, some feel, lies in its new weaving project, which is said to be ahead of schedule. The company is coming up with a 62 lakh metre per annum capacity in the next three to four months, which was earlier scheduled for March 2009. Going by market buzz, it has already acquired land for the new weaving and garmenting project and construction would be complete by September. The stock price closed at Rs 133, down 7%, after gaining over 10% last week. Further, it would also set up a new garment unit with a capacity of about 5000 pieces per day ahead of schedule. Early implementation would result in a topline increase of up to Rs 25 crore for the current financial year. A senior company official declined to comment on the development.
Navin Fluorine rides on
carbon credit gains
NAVIN Fluorine International (NFIL), an Arvind Mafatlal Group company, has seen a 15% gain over the past week on talk of windfall gains from carbon credits. The counter, which is on the radar of many analysts, is back in the news on talk of booking carbon credits worth Rs 100 crore for the whole year and Rs 27 crore in the first quarter. Marketmen have, however, been speculating that this projection is on a conservative basis and the actual value could be upwards of Rs 400 crore. On an equity capital of 10 crore this would translate to an EPS of Rs 100. The stock which is quoting at Rs 260.45, up almost 3.5% on the BSE has a PE of less than 2.5. The price of carbon credit has jumped to € 21 based on current quotes on the NCDEX. The company is said to have 2.8 million carbon credits. NFIL operates the largest integrated fluorochemicals complex in India and manufactures hydro chlorofluorocarbon, at its Bestan plant located in Surat.