The Hindu Business Line : Grasim back on buy list

THE Grasim Industries counter is back on the buy list of several market players. Dealers said that the buying was due to firming of cement prices in various parts of the country.

The rise in the cement price is on back of increase in infrastructure investment and good construction activity. Some of the top broking firms are of the view that Grasim is the best company in the cement sector and have been recommending it to clients over the last few days. The acquisition of L&T's cement business is also another factor for the interest in the stock.

On Tuesday, the stock closed on the BSE at Rs 1,183.35, up 4.55 per cent, with volume of 1.45 lakh shares. On the NSE it closed at Rs 1,188.75, up 4.22 per cent, with volume of 3.85 lakh shares.

FIIs keen on Divi's Labs

SELECT new FIIs are eying shares of Divi's Laboratories. The market talk is that these FIIs are keen on a stake in the company. Some buying has been seen in the last couple of days.

However, these FIIs are not able to get large quantity of shares of the company from the open market. Due to this, dealers of several broking firms are talking to institutional investors to sell their holding.

However, most of them are not willing to exit the stock at current levels. The talk is that even a small quantity of shares bought by FIIs would result in a sharp rise in the stock price. The rise on Monday was also due to this.

On Tuesday, the stock gained marginally by 0.44 per cent to close at Rs 1,670.80 on the BSE with volume of 25,682 shares. On the NSE it closed at Rs 1,675, up 0.22 per cent with volume of 79,514 shares.

Oriental Bank in demand

A LEADING foreign bank's broking arm in India has turned bullish on Oriental Bank of Commerce. This follows the good financial performance of the bank in the third quarter.

The firm has been recommending the scrip to clients saying that it is a two-bagger from current levels. Dealers said that FII buying was seen in the counter during the last few days and some more buying is expected in the days to come.

On Tuesday, the stock gained 2.22 per cent to close at Rs 279.10 on the BSE with volume of 8.41 lakh shares. On the NSE it closed at Rs 279.60, up 2.47 per cent with volume of 20.66 lakh shares.

Virendra Verma

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