Everest Kanto shares rise


Everest Kanto rose by almost 19 percent from its previous close of Rs 872.70 ($20.3) to touch a high of Rs 1073.70 ($25) yesterday before settling for a gain of 13.79 percent at Rs 993.05 ($23.2).

The volumes traded represent about a ten-fold rise over the 69,120 shares traded in the company on the previous session. The company is the market leader in high pressure industrial gas and CNG cylinders used in automobiles and other applications such as medical oxygen, fire fighting and defence.

The company is investing for expansion in India, and plans to enter China thus expecting to double itself in size in couple of years. The stock has gained over 25 percent in the past month, rising from Rs 791.50 ($18.5).

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