India Insider Stock Trading July 6, 2007
The strong demand for India stocks has pushed the Sensex to over 15,000.
There is nothing we like to see more than an executive investing in his or her own stock or a large smart investor who likely knows more than we do and has thrown tons of resources breaking down the inherent value of the stock. This scenario can lead to a very nice setup.
That's why at The India Street we keep track of India’s Insider Stock Trading in order for you to make more informed decisions.
Rain Commodities Limited (RACL) makes this week's portfolio. The giant cement manufacturer’s board has decided to merge Rain Calcining with the company effective Apr. 01, 2007. The objective of the merger will be to integrate the Calcined Petroleum Coke business of RCL with the CPC business of GLC Carbon USA, a wholly owned subsidiary of the company.
| BSE:500339 | NSE:PRIYADCEM | Bloomberg:RCOL@IN | Reuters:PRYC.BO |
The top Funds holding Rain are
| Portfolio | |||||
| 31-MAY-07 | 30000 | 3.22 | 0.03 | ||
| 31-MAY-07 | 187255 | 1.91 | 0.24 | ||
| 31-MAY-07 | 5713824 | 58.28 | 0.42 |
In an attempt to drive shareholder value, the company is buying back some of the shares.
Asahi Songwon Colors Ltd. (BSE:ASSC) came to our attention when the DSP Merrill Lynch Mutual Fund bought 380,000 insider shares totaling 3.1% of the outstanding. Their recent IPO was oversubscribed but the stock has trended down since the IPO. If Ashai, a leading Gujarat based company involved in producing Copper Phthalo Cyanine Blue Crude, has Merrill Lynch buying shares, you can bet they know something we don’t. Watch this one carefully.
Top Holders of ACCS
| Portfolio | |||||
| 31-MAY-07 | NA | 9.02 | 0.90 | ||
| 31-MAY-07 | 100236 | 9.02 | 0.61 | ||
| 31-MAY-07 | 150385 | 13.54 | 0.66 | ||
| 31-MAY-07 | 150385 | 13.54 | 0.43 | ||
| 31-MAY-07 | NA | 51.99 | 0.35 | ||
| 31-MAY-07 | NA | 9.02 | 1.19 | ||
| 31-MAY-07 | NA | 4.66 | 0.32 | ||
| 31-MAY-07 | NA | 4.52 | 2.98 |
Lastly, we see that Rekha Jhunjhunwala (wife of Famous Rakesh) purchased 73000 shares of Agro Tech Foods Limited
(BSE: 500215 | NSE: ATFL | ISIN: INE209A01019) to increase her overall stake to 584,000 shares. She has been steadily accruing shares over the past year. Does she know something we do not? From the chart, we can see the stock has been steadily rising and in fact has gone up 77.76% in the last year.
Agro Tech Foods Limited operates in the edible oils and branded foods sector in India. It operates in two segments, Branded Foods, and Bulk and Processed Commodities.
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