The Hindu Business Line : Active interest seen

THE counter of air-conditioner company Fedder's Lloyd was locked in the 20-per cent upper circuit on Friday. Trading volumes in the counter were also substantially higher than normal volumes.

Stock price of the company closed at Rs 11.01 with volumes of 6.92 lakh shares on the BSE.

Dealers said there has been sudden interest in the counter over the last few days. Interest in the counter is attributed to the company's good order position.

One of the orders the company has is for Goa sky-bus project. Moreover, good industrial growth is also expected to benefit the company, dealers said.

Funds' vision props it up

Colour picture tube maker Samtel Color stock is on the buy-list of several institutional investors.

Talk is that several broking firms have started recommending the stock to their clients.

Samtel has emerged as one of the major players in picture tubes manufacturing and boom in computers and television industry is leading good growth for it.

Moreover, the company's foray into flat and large picture tubes is also a major factor for interest in the counter. Flat and 29 inches pictures tube segment is the fastest growing segment.

Dealers said several institutional investors bought shares of the company on Friday.

The stock was up 3.46 per cent at Rs 58.25 on the BSE with volumes of 1.51 lakh shares; on the NSE, it closed at Rs 58.15, up 3.01 per cent with volume of 3.42 lakh shares.

Flying high

With commodity stocks attracting a lot of interest, an addition to the list is now paper companies.

Dealers said there was active interest in several paper companies' stocks. The main reason for the interest was Indian Paper Makers Associations holding analysts meet on Thursday in Mumbai.

Several market players who attended the meet seem to be impressed with paper industry and feel that the uptrend in the industry has just started.

Paper prices internationally have started firming and as per the industry association, they are likely to peak by September 2005. Moreover, with industrial growth at over 7 per cent, the demand for paper is also expected to grow at the same rate.

However, the active interest on Friday was seen only in select stocks such as Star Paper (9.64 per cent at Rs 36.95), Pudumjee Pulp (5.72 per cent at Rs 35.10), Seshasyee Paper (2.17 per cent at Rs 68.35) and BILT (up 1.17 per cent at Rs 77.95).

Virendra Verma

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