Financial Daily from THE HINDU group of publications
Tuesday, Sep 30, 2003
Financial Daily from THE HINDU group of publications Tuesday, Sep 30, 2003 |
|
|
|
|
|
Markets
-
Stock Markets Columns - Ear to the ground OBC gains on FII interest Virendra Verma
THE counter of Oriental Bank of Commerce (OBC) was back on the buy-list of select FIIs and touched new high on Monday. The increased interest in the counter was on expectation of good results in the second quarter of this fiscal. OBC is considered among the most attractively stock among the PSU list due to low NPAs and high growth in the next few years. The talk is that FIIs also bought large quantity of futures contract of the OBC. The open interest in the OBC October futures contract has increased almost 40 per cent in the last two trading session. On Monday, the stock of OBC closed at Rs 197.90, up 8.05 per cent on BSE with volume of 15 lakh shares and on NSE it closed at Rs 197.45, up 8.34 per cent with volume of 35.66 lakh shares.
Emco profits on order buzz Various market players are eyeing transformer maker Emco stock over the last few days. The stock price of the company has already gained over 33 per cent in the last three trading sessions along with rise in the volumes. The rise in the stock price is mainly on market talk that the company has bagged an order from the Karnataka State Electricity Board for transformers. The company's order book for electric meter is already full for the current fiscal. Due to these developments, the market expects EPS of around Rs 8 in the current fiscal. On Monday, the stock gained 7.74 per cent at Rs 61.25 on BSE with volume of 8.55 lakh shares.
Block deals in HDFC THE counter of housing finance company HDFC had several block deals on BSE. Dealers said there were block deals of around 45-47 lakh shares. These deals were mainly among the FIIs that shift their portfolio at the end of each quarter. However, there was not much change in the stock price. The stock closed at Rs 493, down 1.46 per cent at Rs 493 on the BSE with volume of 51.13 lakh shares and on the NSE it closed at Rs 490, down 2.08 per cent with volume of 3 lakh shares.
Article E-Mail :: Comment :: Syndication
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |
Copyright © 2003, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|