Financial Daily from THE HINDU group of publications
Friday, Sep 19, 2003
Financial Daily from THE HINDU group of publications Friday, Sep 19, 2003 |
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Markets
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Stock Markets Columns - Ear to the ground HPCL still considered `good buy'
INVESTORS have shrugged off the jolt given by the Supreme Court to the disinvestment of the petroleum refining and marketing company and have started buying the stock actively. In fact, several large investors picked up the share on Tuesday when the Court ruling came. Buying continued on Wednesday and Thursday as well. While about 58 lakh shares were delivered on Tuesday, the number stood at 48 lakh on Wednesday and 29 lakh on Thursday. Sector analysts said even though the Court verdict has dashed privatisation hopes for HPCL, the stock is still a good buy because it is quite undervalued compared with global peers. The stock price rose 2.15 per cent on Thursday to close at Rs 335.35 on the BSE.
Buoyant Jubilant DELHI-BASED Jubilant Organosys, formerly known as Vam Organics, has been attracting buyers for the past few days now. Over the past one month the stock price has risen more than 55 per cent. According to analysts, its recently-launched drug citalopram is expected to do well. The drug competes with similar products of Matrix Labs and Natco Pharma, they said. The stock which was trading at levels of Rs 261 per share 10 days ago, on Thursday closed at Rs 386, up 1.38 per cent from its previous close. While about 1.2 lakh shares were traded on the NSE about 38,000 shares were traded on the BSE.
It's Boom time THE stock of Hinduja TMT, whose new multi-starrer movie Boom is releasing Friday, was hogging the spotlight in the stock market on Thursday. Market sources said the company is holding special screenings for fund managers and other investors Thursday evening. The company has bet heavily on the movie, which boasts of a line-up with mega-star Amitabh Bachchan and Hollywood actress Bo Derek in it. The share rose more than 3 per cent on the BSE on Thursday to close at Rs 204.75. The total volume on the NSE and BSE stood at more than 29 lakh shares.
Dinesh Narayanan
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