Goetze accelerates on demand pull

DALAL STREET SPIKES

Goetze India shot up 19 per cent on Tuesday to Rs 324.3. Earlier, the stock touched a high of Rs 327.4. Over 2.75 lakh shares exchanged hands on the BSE. The stock has gained 13 per cent in the last one month.

The stock has appreciated on the back of strong demand. Recently, Federal-Mogul acquired the Indian promoters' stake, which raised its holding to 50 per cent and took control of the company.

Federal Mogul is a leading auto-ancillary company and has good presence in the diesel vehicles segment. It supplies to auto majors such as General Motors and DaimlerChrysler.

The company posted a net loss of Rs 50.56 crore for FY06 compared with Rs 22 crore in previous year.