Strong order book position perks up PSL

DALAL STREET SPIKES

PSL Holdings hit a new high of Rs 165 on renewed buying interest. The stock close at Rs 159.85 compared with its previous close of Rs 150.75. More than 61,000 shares were traded on BSE on Tuesday.

Analysts said, strong order book of the company is attracting buying interest at the counter. From a low of Rs 111.60 on 25 October 2004, the scrip has now risen 43 per cent to the Tuesday's close.

However, for the quarter ended September 2004, PSL reported a 3 per cent fall in net profit to Rs 7.30 crore on a 2 per cent growth in sales at Rs 224.10 crore.

On the National Stock Exchange, more than 1.55 lakh shares changed hands with the stock closing at Rs 160. PSL currently operates with a available capacity of 75000 tonnes per year.