The Hindu Business Line : Rumours boost interest in Bank of Rajasthan

The stock, which has appreciated by almost 33 per cent from around Rs 33.70 (BSE) levels as on September 1, 2004, is still being dogged by market talk of a strategic investment. Of late, one of India's leading corporate houses is rumoured to be looking at taking a stake in the company via its investment arm. Analysts maintain that given that the bank needs fresh infusion of funds, such a move is plausible.

Of late several funds - Goldman Sachs, Citigroup, Merrill Lynch Capital Mark-- have been mopping up a significant quantum of shares at this counter. The stock ended the day at Rs 44.70, up 4.68 per cent with around 57.07 lakh shares traded on the BSE. On the NSE, it ended at Rs 45.05, up 5.36 per cent with around 28.29 lakh shares traded.

Spurred by iron ore demand

A perception that mineral ore will benefit from strong demand, from local as well as the global metal sector has been spurring interest in the counter of Sesa Goa.

The company, which has a significant presence in iron ore and is a processor of met grade coke, is expected to be one of the major beneficiaries. Analysts maintain that a robust earnings growth driven by higher iron ore prices, robust volumes, improvement in the pig iron business and higher contribution from met-coke will sustain investor interest in this counter. The stock has appreciated by almost 25 per cent from around Rs 556 levels as on September 1, 2004.

The stock ended at Rs 694.35, up 8.81 per cent with around 5.30 lakh shares traded on the BSE. On the NSE, it ended at Rs 694.90, up 9.21 per cent 10.65 lakh shares traded.

`Cement play' in the counter

The recent interest in the stock of the composite textile mill, Century Textiles and Industries, is said to be on account of the `cement play' in the counter.

As the fifth largest cement producer in India, an upturn in the cement cycle is expected to provide the biggest upside to Century's earnings. To this extent the company is also said to be expanding its capacity from 5.5 million tonnes to 6.3 million tonnes, which is expected to become operational in FY05.

The counter ended the day at Rs 153.20 up 3.65 per cent with around 4.56 lakh shares traded on the BSE. On the NSE, it ended at Rs 153.30 up 3.79 per cent with around 11.84 lakh shares traded.

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