ABC Bearings soars 96%; Poona Dal zooms 67% in a week

ABC Bearings soared more than 95%; Poona Dal & Oil Industries rallied 67% on BSE during the current week.

ABC Bearings has locked in upper circuit for the fourth straight trading sessions, up 10% to Rs 346. The stock trading at its all-time high has zoomed 101% from Rs 177 on June 30, 2017.

Timken India on Wednesday announced that it has entered into a definitive agreement to acquire the ABC Bearings through a court-approved amalgamation process.  ABC Bearings shareholders will get five Timken India shares in exchange for eight of ABC Bearings.

ABC Bearings is a manufacturer of tapered, cylindrical and spherical roller bearings and slewing rings.

“Timken is the leader of in the India bearing market and the acquisition of ABC Bearings will expand capacity, customer base and locally produced product breath,” said Richard G. Kyle, Timken president and chief executive officer.

“The demand for bearings in India is growing, and the addition of ABC Bearings will provide us with the ability to increase participation in local and export markets,” he added.

Poona Dal & Oil Industries, too locked upper circuit throughout the week, has rallied 67% to Rs 74.15 from Rs 44.30.

Since June 29, in past six trading days, the stock zoomed 101% from Rs 36.95, after the company reported a robust net profit of Rs 8.49 crore in March quarter. The company had profit of Rs 14 lakh in the same quarter year ago.

Operational income jumped three-fold to Rs 187 crore from Rs 59 crore in the corresponding quarter of previous fiscal.

Poona Dal & Oil Industries, engaged in the oil and food grains industry, has a low equity base of 5.7 million shares, of which 4.02 million or 70.38% stake with the promoter.

Meanwhile, around 53 stocks have rallied more than 25% thus far in the current week. Of these, Venky’s (India), JBM Auto, Tinplate Company and Alfred Herbert were up between 35% and 45%.

COMPANY	LATEST	ONE-WEEK	GAIN(%)
ABC BEARINGS	345.65	177.45	94.8
POONA DAL & OIL	74.15	44.30	67.4
KARUTURI GLOBAL	1.78	1.07	66.4
SAHARA HOUSING	89.00	55.65	59.9
MEERA INDUSTRIES	59.85	39.00	53.5
JBM AUTO	379.00	262.20	44.6
DOLAT INVESTMENT	2.86	2.01	42.3
TREE HOUSE EDU.	20.38	14.40	41.5
T N PETRO PROD.	57.25	40.65	40.8
ODYSSEY CORPN.	2.94	2.14	37.4
VENKY'S (INDIA)	2314.05	1692.10	36.8
PEARL POLYMERS	42.00	30.80	36.4
TINPLATE CO.	125.90	93.40	34.8
ALFRED HERBERT	815.90	605.50	34.8
VAMA INDS.	28.85	21.45	34.5
PAUL MERCHANTS	4795.90	3574.40	34.2
TIRUPATI TYRES	12.34	9.23	33.7
SARTHAK METALS	45.00	33.70	33.5
OCEAN AGRO (I)	39.00	29.55	32.0
KANCO TEA	253.00	192.15	31.7
RAJOO ENGINEERS	30.70	23.70	29.5
ARIHANT CAPITAL	96.30	74.65	29.0
GUJ. AUTOMOTIVE	344.00	267.00	28.8
SPENTEX INDS.	5.01	3.90	28.5
HESTER BIOS	1133.50	882.40	28.5
AKME STAR HOU. F	71.15	55.40	28.4
CAPTAIN POLYP.	171.75	134.00	28.2
MCNALLY BHARAT	61.15	47.85	27.8
TAAL ENTERPRISES	191.35	150.00	27.6
ASSOC.ALCOHOLS	171.00	134.05	27.6
MAGNUM VENTURES	18.70	14.67	27.5
PVV INFR	19.07	14.97	27.4
SHALIMAR WIRES	10.75	8.44	27.4
PANCHMAHAL STEEL	62.20	48.85	27.3
S R INDS.	9.93	7.80	27.3
SHILPI CABLE	45.45	35.70	27.3
LKP SECURITIES	10.82	8.50	27.3
NPR FINANCE	28.35	22.30	27.1
WINTAC	212.45	167.50	26.8
GANESH HOUSING	140.80	111.05	26.8
GILADA FINANCE	27.05	21.35	26.7
VIDEOCON INDS.	26.35	20.8	26.7
MODI RUBBER	103.85	82	26.7
OMKAR SPL.CHEM.	98.65	78	26.5
ANAR INDS.	72.45	57.3	26.4
MANGAL CREDIT	2.74	2.17	26.3
JRI INDS.	1.55	1.23	26.0
ROLLATAINERS	5.25	4.18	25.6
SEYA INDUS.	640	510	25.5
PANASONIC CARBON	575.5	458.65	25.5
NUTRAPLUS INDIA	33.7	26.9	25.3
SAMTEX FASHION	4.08	3.26	25.2
SPENTA INTL.	140.1	112	25.1