The Hindu Business Line : Powers ahead

THE stock of Power Trading Corporation (PTC) on Thursday witnessed active interest from market players with increased volumes along with rise in price.

The stock was up 5.52 per cent at Rs 56.40 on the BSE with volumes of 52.56 lakh shares; on the NSE, it closed at Rs 56.50, up 5.71 per cent, with volumes of 1.08 crore shares.

Dealers said the interest in the stock is ahead of NTPC's IPO, which is expected later this month. Talk is that companies in the power sector would see active interest before the IPO.

Other than the IPO, several FIIs are also understood to have purchased the shares in the last few days due to the company's attractive business accomplishments. Most of the buying is from new FIIs which have entered the country recently.

Welspun on a growth spin

TEXTILE company Welspun India witnessed increased buying. The stock was up 4.52 per cent at Rs 106.35 on the BSE with volumes of 1.12 lakh shares; on the NSE, it closed at Rs 106.90, up 5.11 per cent, with volumes of 2.19 lakh shares.

Dealers said the stock is on the buy list of several market players as the company is one of the leading global players in bath linen.

Welspun plans to expand into bed linen, expected in December 2004, will enable it to become a leading player in this segment also.

Talk is that post-quota system in 2005, the company would be a major beneficiary as it has companies such as Wal-Mart, JC Penny, Calvin Klein as its clients.

Market players expect that from next year, the business from these companies would grow.

On t-o-t segment fears

AFTER a good run-up for mid- and small-cap stocks in the last one month, there was some weakness in these stocks.

This was due to the market talk that several stocks, which have run-up quickly, might be shifted to trade-to-trade segment where netting facility is not allowed.

Market players were talking for 100-200 stocks that could be shifted.

On these fears, several players who had entered these stocks offloaded their positions.

Virendra Verma

More Stories on : Stock Markets | Ear to the ground

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Vickers System gets bids at Rs 500

`Bourses equipped to implement transaction tax'

Bears prevail

Havells in focus on large order talk

Powers ahead

e-Serve staff trust, Alliance Capital sell shares thru tender

RBI bans FII buying in Pritish Nandy

`Cement, capital goods will outperform broad market'

Infosys survives BSE roller coaster