Herd on the street: Shree Ashtavinayak Cinevision, Mahindra Satyam, Vesuvius India, Ajanta Pharma  

September 7, 2010

What’s buzzing in these stocks right now

Shree Ashtavinayak Cinevision Ltd: The stock is buzzing as the release date of Dabangg, an upcoming Hindi action film, is coming close (10th September). The film has been co-produced by Shree Ashtavinayak. Many are betting on Dabangg being a huge hit (maybe not in the metros but in smaller cities in India, like Salman Khan movies are prone to be).

The film is creating quite a stir also because it will mark the debut of Sonakshi Sinha, the daughter of actor and politician Shatrughan Sinha. The stock has already moved up from Rs11 (early July) to Rs22 currently.

Mahindra Satyam: Moving up on hopes of a positive surprise in its financial numbers (likely to be announced by the end of September).

There is also a buzz that Tech Mahindra might merge Mahindra Satyam with itself before the end of FY11, which is earlier than the previously expected October 2011. News reports have already suggested that the two companies are already jointly executing projects.

Vesuvius India: The refractory company's shares were rising sharply on bonus buzz. In June it made a profit of Rs119 million on sales of Rs1.1 billion (Rs107 million and Rs950 million respectively in June 2009).

Ajanta Pharma: The buzz is that the company is entering the US market from December. In its June quarter, it earned a profit of Rs69.8 million on net sales of Rs982.9 million (Rs43.7 million and Rs845.3 million respectively in June 2009). It is already present in Africa, Asia, Latin America and the erstwhile Soviet republics.
— Munira Dongre