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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (7529)	10/1/1999 2:12:00 AM
From: Mohan Marette	Read Replies (1) of 12475

CompanyWatch: Goodlass Nerolac -Significant change in ownership in the offing. goodlassnerolac.com Stock Price intra-day 10/01/99 On NSE - Rs 227.95 (IST 10:58 am) P/E - 11.31 Book Value - Rs 95.85 Striking a good deal THE Goodlass Nerolac stock which has been on a sharp uptrend in the last 15 trading sessions may hold some upside potential with a significant change in its ownership pattern in the offing. The stock has gained around 50 per cent in this period and moved up from Rs. 164 to Rs. 247. Following the decision of Forbes Gokak (a Tata group company) to sell its 30 per cent stake in Goodlass Nerolac to Kansai Paints, the ownership and management profile of Goodlass Nerolac would undergo a significant change. With a higher stake, the interest of Kansai Paints in the Indian operations may become more pronounced. Though this move may not lead to an open offer (as it would be a transfer of stakes between promoters), the future prospects for Goodlass Nerolac under auspices of Kansai may be viewed favourably. The stock which closed Thursday's trading at Rs.247 (up Rs.18) may have some upside potential left on the back of this development. _ BL Research Bureau (BusinessLine)

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