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Saturday, Jun 19, 2004

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Tata Elxsi up on media initiative

ANOTHER Tata group company that has been witnessing increased buying in the last few days is Tata Elxsi, and the accumulation has nothing to do with the TCS IPO.

Dealers said that several large market players have started buying the shares from the market and this is seen from the increased volumes in the counter.

The talk is that the company has entered into new business of animation and other businesses related to media industry.

Moreover, in this segment the company has good order position and this is likely to bring additional revenues and profits in the next few quarters.

On Friday, the stock gained 0.54 per cent to close at Rs 101.75 on the BSE with a volume of 7.18 lakh shares and on the NSE it gained 0.59 per cent to close at Rs 101.75 with a volume of 11.53 lakh shares.

Back on FII radars

AFTER witnessing increased selling, especially from FIIs, the stock of BHEL is back on the buy list of some of the foreign investors.

Dealers said that some US-based FIIs purchased shares of the engineering company on Friday.

These FIIs are understood to be purchasing shares of the company due to the good order position from the power sector.

On Friday, the stock gained 2.19 per cent to close at Rs 488.45 on the BSE with a volume of 7.56 lakh shares and on the NSE it closed at Rs 488.20, up 1.76 per cent, with a volume of 17.27 lakh shares.

Virendra Verma

More Stories on : Stock Markets | Ear to the ground

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