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Jayanta Mallick

Kolkata , Feb. 20

THE SB&T stock on Friday created major buzz on the bourses. The traded quantity rode on the back of a few block deals. Of the total traded volume in the counter on the BSE of over 3 lakh shares, roughly 1.80 lakh shares changed hands mainly through seven bulk deals. On the NSE, 2.80 lakh shares were accounted for by 14 block deals out of the counter's volume of 4.31 lakh shares. The stock closed 4.9 per cent up at Rs 47.10.

According to dealers, high delivery percentage in the counter on Friday suggested institutional interest. The NSE recorded a significant delivery figure of 63.51 per cent. Certain foreign funds are reportedly been picking up the stock off and on. Last December, Oppenheimer, a known FII, bought 16.98 lakh shares constituting 12.5 per cent stake in SB&T from the open market.

Mr Devarsh Vakil of Anagram Stockbroking said that this 100 per cent EOU of studded jewellerywould benefit from the recent Government decision to allow jewellery exporters freedom in procuring inputs.

They do not have to import through a canalizing agency or a bank, Mr Vakil said.

"The measure is expected to boost competitiveness of SB&T, which has marketing and technical tie-up with the Houston-based SB&T Gem Imports Inc of the US," he added. SB&T is part of a major multi-national jewellery network.

At today's closing price, the stock traded at 13.2 times its trailing fourth-quarter earnings per share.

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