Financial Daily from THE HINDU group of publications
Tuesday, Jul 20, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jul 20, 2004 |
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Markets
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Stock Markets Columns - Ear to the ground Digital tech boost
THERE was active interest in the counter of film processing and multiplex company Adlabs. Dealer said there has been increased buying in the counter in the last few days. The buying is both from the institutional and retail investors. The talk is that interest in the counter has revived due to the new digital technology for processing the film undertaken by the company. Under this, the movie does not have to go through the current processing and all the process will be digital and will make the releasing of movie all over the India at the same time at a much cost efficient manner. On Monday, the stock price of the company gained 11.70 per cent at Rs 89.25 on the BSE with volumes of 2.23 lakh shares; on the NSE, it closed at Rs 89.25, up 11.77 per cent with volumes of 4.26 lakh shares.
Block deals in SREI Intl THE counter of SREI International Finance on Monday saw block deals for over 17 lakh shares, which constitute over 3 per cent of the company's equity. The seller was an overseas corporate body MBCV Holdings. It sold 17.72 lakh shares of the company at Rs 16.51 on the NSE and the major buyer was Reliance Mutual Fund. The fund bought 16.93 lakh shares at Rs 16.51. But the interesting part was that the deal at Rs 16.51 was executed in the afternoon around 2.30 p.m. Before this deal, the stock was trading over Rs 18 and within minutes of the deal, the stock price jumped to Rs 21. SREI International Finance closed at Rs 21.45, up 18.18 per cent with volumes of 81,073 shares on the BSE and at Rs 21.10, up 18.30 per cent with volume of 20.60 lakh shares on the NSE.
Old hand back in action THE shares of BPL and HFCL on Monday saw sharp rise in their price. Dealers said an old operator of these stocks is back in the market and is actively buying the shares of these two companies. Most of the market players are surprised over the sharp rise in the stock price as no major corporate development is happening in these companies. BPL stock price has gained 55 per cent in just 4 trading sessions with sharp rise in volumes. The talk is that this operator is also accumulating some of his old favourite stocks. On Monday, BPL stock gained 19.46 per cent at Rs 42.05 on the BSE with volumes of 6.20 lakh shares; on the NSE, it closed at Rs 41.95, up 19.01 per cent with volumes of 6.29 lakh shares. HFCL stock was locked in 20 per cent upper circuit on both the exchanges. On the BSE, it closed at Rs 10.51 with volumes of 64.58 lakh shares and on the NSE, at Rs 10.50 with volumes of 1.26 crore shares.
Virendra Verma
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