Financial Daily from THE HINDU group of publications
Saturday, Feb 09, 2002
Financial Daily from THE HINDU group of publications Saturday, Feb 09, 2002 |
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Markets
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Commentary Columns - Ear to the ground Karur Vysya shines on takeover talk
AFTER Bank Brussels Lambert intention to take control of Vysya Bank, another South-Indian bank Karur Vysya Bank was being rumoured to be on the acquisition list. The acquirers' names floating in the market include — HDFC Bank and ABN Amro Bank. On back these rumours, the share price of Karur Vysya Bank was up 16 per cent on Friday at Rs 430.50 on the NSE. The volume in the counter was also good at 1,36,377 shares. In fact, similar rumour had floated in the market a year and half back. But the bank management at that time denied it. But this time, the market expects this to happen as there could be some Government sops for merger and acquisitions in the coming Budget.
Tata Telecom up on VSNL order hopes
THE acquisition of 25 per cent Government stake in VSNL by Tata's, is expected to benefit Tata Telecom. There is a feeling in the market that most of the new telecom equipments would be outsourced from Tata Telecom by VSNL. Analysts feel that this will have a positive impact on the stock price of Tata Telecom. This was also reflected on Friday's trading with the stock price gaining 15.2 per cent at Rs 138.95 on the BSE. On the NSE, it closed 12.72 per cent higher at Rs 140.
Virendra Verma
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