As open offers gain, MNC stocks go on the upswing
New Delhi: Recent open offers from MNCs like Carrier Aircon, Otis Elevators, Philips and Coats Viyella have turned MNC stocks into fancied items. Further expectations are being fuelled of a potential buyout in several other MNCs also.

15 multinational stocks, cutting across sectors, have recorded huge jumps in prices and volumes in the last week ranging from 10 to 50 per cent.

Analysts say the expectation is that with several stocks trading at cheap valuations, parent companies might use the opportunity to buy out the publicly-listed equity or increase their stake in the company.

Thus in a rather dull market, several MNC counters have seen frenzied trading and volumes on these expectations.
Top gainers have been stocks like Bausch & Lomb which closed on Wednesday at Rs 36.20 recording a jump of 53.38 per cent. The Timex Watches stock closed at Rs 12.05 on May 16 a jump of almost 35.40 per cent. The story was the same with Wartsila, Bayer India and Thomas Cook.

Bata India jumped by 32.5 per cent and closed at Rs 42.60 at the NSE on Tuesday. Chemicals major Monsanto jumped by 26.9 per cent at Wednesday’s closing of Rs 973.50. ICI India jumped by 26 per cent and closed at Rs 72.45 at NSE on Wednesday. Fujitsu, Fulford and Foseco India have witnessed an increase of 37.76, 27.65 and 28.40 per cent, respectively.
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