Financial Daily from THE HINDU group of publications
Tuesday, Dec 07, 2004
Financial Daily from THE HINDU group of publications Tuesday, Dec 07, 2004 |
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Markets
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Stock Markets Columns - Ear to the ground Alstom Projects gains on order strengths
THE counter of Alstom Projects has been attracting the investor's interest in the last few days. Dealers said this is due to the good order position. The company is a leading player in power generation equipments. Due to increased investment in power generation, market players expect huge growth for the company. Alstom parent making its Indian subsidiary as one of the hub has also brought interest in the counter. If market talk is to be believed, select market players have built huge positions in the stock. On Monday, the stock gained 7.22 per cent at Rs 153.65 on the BSE with a volume of 5.46 lakh shares; on the NSE, it closed at Rs 152.70, up 5.89 per cent, with a volume of 7.54 lakh shares.
Betting on malls
ZICOM Electronic Security System stock is on the rise again. Several market players are accumulating the stock even at its yearly high-level price. Dealers said the interest in the counter is due to the strong growth the company is likely to show in the next few quarters. The talk is that this growth would be mainly from shopping malls and multiplexes, coming up across the country. Moreover, there is a growth prospect for the company's product in the banking sector. All this is leading to increased buying in the stock. On Monday, the stock price gained 3.97 per cent at Rs 99.45 on the BSE with a volume of 5.14 lakh shares.
Up on bonus proposal
SEVERAL market players are accumulating the stock of Matrix Laboratories ahead of the bonus issue and stock split. The company has already announced 1:1 bonus issue and a stock split with a face value of Rs 2 from Rs 10. Dealers said a section of the market players were accumulating the stock in order to avail themselves of bonus shares. They said that after the stock goes ex-bonus and split in the face value, it would get better price-earning multiple. Some market players are taking the case of Infosys Technologies, which has gained almost 50 per cent after the bonus issue. On Monday, the stock price gained 8.33 per cent at Rs 2080.95 on the BSE with a volume of 49,006 shares; on the NSE, it closed at Rs 2079, up 9.13 per cent, with a volume of 78,315 shares.
Virendra Verma
More Stories on : Stock Markets | Ear to the ground
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