Several market players are buying Haldyn Glass, a company making glass bottles for cosmetic and beer industry, due to strong growth expected in the current financial year.Dealers said the company has turned around in the last financial year.
It's earning per share (EPS) rose from Rs 0.56 for March 2004 fiscal to Rs 7.2 for March 2005. This was due to the turnaround in the glass industry. Moreover, there was shortage of glass bottles, which resulted in good realisation.
The talk is that the situation for the industry has not changed much and is likely to continue throughout the year. This in turn would result in much better fiscal for the company, dealers said.
On Friday, the stock rose 6.88 per cent at Rs 80.05 on the BSE with volumes of 1.47 lakh shares.