Financial Daily from THE HINDU group of publications
Friday, Dec 03, 2004
Financial Daily from THE HINDU group of publications Friday, Dec 03, 2004 |
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Markets
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Stock Markets Columns - Ear to the ground Tourism booster
THE stock of Cox & Kings, a company engaged in travel and tourism sector, has been attracting lot of investors' interest. Dealers said this was due to the uptrend in the tourism sector. The company is engaged in hotel bookings and travel related services. The talk is that after the rise in stock price of hotel companies, market players feel that companies related to tourism sector are likely to do well on stock market. Moreover, with the tourism season in India being started, dealers said the next six months for the company are expected to be good. On these expectations there was increased buying in the shares of the company on Thursday. The stock gained 10 per cent at Rs 30.30 on the BSE with volumes of 1.10 lakh shares.
Aided by low-end target THE Solectron Centum Electronic stock has been accumulated by a section of the market. Dealers said the launch of low-end PC in India by AMD in association with Solectron has brought interest into the counter. Recently, a low-end PC was launched without monitor (with only CPU) targeting low-end market. Dealers said there is a huge growth prospect for this computer. However, Solectron has not started manufacturing them in its Indian unit. But, these players are optimistic that in future, Solectron Indian unit would be used to export these computers in other developing countries. On Thursday, the stock gained 5.07 per cent at Rs 125.45 on the BSE with volumes of 1.28 lakh shares; on the NSE, it closed at Rs 125.50, up 5.46 per cent, with volumes of 1.83 lakh shares.
Jumps on dividend hopes MOST of the public sector oil and gas companies stocks have seen buying interest in the last couple of days. But on Thursday, they saw heavy buying. Dealers said the buying in these stocks is coming from two factors. One is the fall in international oil prices, which will lead to lower losses for oil marketing companies, and the other is that in the next one month several of the oil companies would announce interim dividend. Already HPCL has come out with record date for payment of interim dividend. Some of the stocks in which active buying was seen on Thursday were BPCL, HPCL, GAIL, IOC and ONGC.
Virendra Verma
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