Financial Daily from THE HINDU group of publications
Saturday, Mar 13, 2004
Financial Daily from THE HINDU group of publications Saturday, Mar 13, 2004 |
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Markets
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Stock Markets Columns - Ear to the ground Selling pressure drags IPCL down
It was down 5.98 per cent at Rs 193.45 on BSE with volume of 57.88 lakh shares and on NSE it closed at Rs 193.45, down 5.73 per cent with volume of 1.45 crore shares. Dealers said the selling was from investors who got shares from the recently public offer made by the Government. These shares were credited to the investor's depository accounts on Thursday. The shares were offered at Rs 170. Dealers said more selling is likely to be seen next week when the retail investors also come for selling.
THE counter of public sector Indian Overseas Bank (IOB) gained on Friday. The stock gained 6.64 per cent at Rs 47.40 on the BSE with volume of 22.79 lakh shares and on the NSE it closed at Rs 47.30, up 6.41 per cent with volume of 45.86 lakh shares. Dealers said the buying in the counter came after a leading domestic broking firm put the stock on buy list. The bank is improving its asset quality and has also been reducing its non-performing assets (NPAs) over the years. The broking firm feels that the bank's focus on fee-based income is also good for the bank and its stock.
Virendra Verma
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