Fresh investor interest buoys Gujarat Ambuja
DALAL STREET SPIKES
| After a sharp rally on Monday, when the stock was up four per cent, the stock in intra-day deals on Tuesday touched a high of Rs 363 on the National Stock Exchange. |
| On the BSE the stock closed at Rs 360.70 with the volume accounting for more than 2.3 lakh shares. Market analysts said the surge in despatch for September and expectation of a further rise in despatches post-monsoon have generated renewed interest at the counter. |
| The stock has appreciated from a recent low of Rs 333.65 on September 27 to Tuesday's close of Rs 360.70. On Monday, GACL reported a robust 23 per cent surge in despatches for September 2004 to 11.85 lakh tonne. Exports have provided a new avenue for growth to the cement industry in recent months. |
| A rally in oil prices has fuelled a construction boom in the Middle East and exports to the Middle East are surging. |