The Hindu Business Line : Heightened activity in Moser-Baer

The stock moved up to Rs 222.50 after opening at yesterday's closing level of Rs 217.55 on the Bombay Stock Exchange. However, today's peak was much lower than yesterday's intra-day high of Rs 231. It finally settled at Rs 215.15. The day's low of the stock was seen at Rs 214.

In terms of volumes, the stock saw heightened activity. At close, Moser-Baer recorded a traded quantity of 1.69 lakh (66,024) shares on the BSE and 5.17 lakh shares (2.51 lakh shares) on the NSE.

Of late, the stock has seen news-based movements. "Moser Baer's decision to sell stake in its subsidiary Glyphics Media Inc, US to Global Data Media of Dubai (a joint venture between Imation Corp, US, and the company) and the announcement of a new joint venture with Imation along with a long-term sourcing deal had influenced the price of the stock in the recent time," Ms Priya Madani of Anagram Stockbroking pointed out.

The stock at the current market price is trading at 4.5 times its trailing four-quarter earnings of Rs 48.5 per share. The management has maintained its profit guidance of 10 per cent for the fourth quarter. "On the back of the company's joint venture and sourcing deal with Imation, we feel the stock may see buying on declines," she added.

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