Financial Daily from THE HINDU group of publications
Tuesday, May 07, 2002
Financial Daily from THE HINDU group of publications Tuesday, May 07, 2002 |
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Markets
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Stock Markets Columns - Ear to the ground Mukand Engineers rises on order talk
MUKAND Engineers has been on an upward move in the last few days along with rise in volumes. On Monday, the stock ended on a strong note. It gained 7.89 per cent to close at Rs 22.80 on the BSE with volumes of 1.04 lakh shares being traded. On the NSE, Mukand closed at Rs 22.50, up 7.14 per cent with volumes of 92,440 shares. Increased interest in the stock is mainly on market talk that the company has an orderbook of around Rs 80 crore in the current fiscal for road construction and electrical power sub-station. There were also talks that some more orders are expected and that they would be executed by September. In addition, the company's IT division (Mukand Infotech), specialising in ERP packages is doing good business. The division provides training on IBM mainframe. The good performance is expected on account of JD Edwards (providing ERP packages) setting up shop in India and this would provide business to the company. Due to these developments, a number of institutions are understood to be interested in Mukand Engineers.
Defence orders take BEL high
PUBLIC sector Bharat Electronics Ltd (BEL) shares have been on the rise on the back of huge defence order position. The company has over Rs 4,100 crore order position with most of them for defence equipment. In addition, there are orders for non-defence equipment also. Dealers said in the wake of tension on the borders, the business outlook for the company looks good. A number of domestic and foreign institutions have bought a large quantity of shares in the last few days. Due to these increased buying, BEL touched a new 52-week high on Monday. On the BSE, the stock after registering its all-time high at Rs 220, closed the day at Rs 209.25, up 3.58 per cent. The volumes in the counter were 4.97 lakh shares. On the NSE, BEL ended 4.34 per cent higher at Rs 210 with 10.43 lakh shares changing hands.
Virendra Verma
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