Financial Daily from THE HINDU group of publications
Friday, May 03, 2002
Financial Daily from THE HINDU group of publications Friday, May 03, 2002 |
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Markets
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Stock Markets Columns - Ear to the ground Tata Power rises on buyback talk
BOTH trading volumes and the share price of Tata Power shot up sharply in Thursday's trading. On the BSE, volumes increased to 10.11 lakh shares from 29,899 shares traded on Tuesday. On the NSE, volumes jumped to 21.13 lakh shares against 58,800 shares traded on Tuesday. The stock jumped 6.08 per cent to Rs 118.40 on the BSE and 5.98 per cent at Rs 118.70 on the NSE. Dealers attribute the sudden interest in the stock to the rumours of buyback expectation from the company. However, there were no talks on the possible price target at which the company would announce the buyback.
Open offer talk revives Carrier Aircon
WITH the beginning of summer, the stock AC manufacturer, Carrier Aircon was in the limelight on Thursday. The increase in the share price was on rumours that the parent will shortly announce the second open offer to its shareholders. In the first open offer, the parent was unable to mobilise the entire floating stock, dealers said. On Thursday, the stock ended 9.97 per cent higher at Rs 92.65 with volumes of just 955 shares on the BSE. On the NSE, it was up 10.05 per cent at Rs 94.15 with volumes of 2,267 shares.
Funds pick Digital GlobalSoft
WITH the uncertainty over the global merger between HP and Compaq finally coming to an end, institutional players are seen actively accumulating the stock of Digital Global. The view among the institutions is that post-merger, the Indian subsidiary would get more focus. In addition, there is possibility of integrations of the HP and Compaq operations in India with Digital Global, dealers said. On the back of these expectations, a number of institutions — both domestic and foreign — on Thursday bought the Digital GlobalSoft stock. The stock ended 7.32 per cent higher at Rs 751.25 on the BSE with volumes of 23.41 lakh shares. On the NSE, it closed 6.64 per cent higher at Rs 744 with 53.45 lakh shares being traded.
Virendra Verma
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