Financial Daily from THE HINDU group of publications
Thursday, Sep 23, 2004
Financial Daily from THE HINDU group of publications Thursday, Sep 23, 2004 |
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Markets
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Stock Markets Columns - Ear to the ground On revival hopes
SAINT Gobain Sekurit has been attracting lot of market interest in the last few days. The interest in the stock can be discerned from the rise in the stock price and increased trading volumes. On Wednesday, the stock gained 12.79 per cent at Rs 22.05 on the BSE with volumes of 2.25 lakh shares. Dealers said the interest in the stock may be due to the revival of the glass industry, which has been passing through a recession for long time. Market talk is that with boom in the housing and automobile sector, the fortunes of glass industry have revived.
Gains on firm price trend JK Corp witnessed active buying from the market due to revival of the paper industry. The talk is that the paper prices both in the local and international markets are up over the last few months. On these developments, market players were buying shares of JK Corp. Dealers said JK Corp is one of the better companies in the industry in terms of the quality of paper and the demand for company's paper is from corporates. On Wednesday, the stock gained 9.62 per cent at Rs 28.50 on the BSE with volumes of 14.79 lakh shares. Volumes in the counter on Wednesday were substantially higher than previous day. Dealers said some institutional investors interest in the stock was seen and this led to sharp rise in the stock price.
Loses sheen ALUMINIUM companies' shares, mainly Hindalco and Nalco, slid on Wednesday on market concerns that prices of the white metal might fall. Dealers said there is concern in the market over slowdown in the Chinese economy and this could affect various commodities including aluminium. Due to the booming Chinese economy, prices of aluminium and other commodities have been rising. On these concern some selling in Hindalco and Nalco shares was seen. On Wednesday, Hindalco was down 2.07 per cent at Rs 1257.60 on the BSE and Nalco closed at Rs 165.55, down 2.27 per cent.
Virendra Verma
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