The Hindu Business Line : FIIs buying peps up Bharti Tele

Buying by the FIIs in the counter started last week after the RBI allowed fresh purchases. The talk is that the stock is among the most favourite telecom stocks in Asia region. This is due to the growth prospects for the company and the sector in India.

Dealers said several FIIs are actively purchasing the shares ahead of the company thirst quarter result, which is expected to be better than the second quarter.

On Tuesday, the stock price of the company gained 4.58 per cent at Rs 199.65 on the BSE with volumes of 18.17 lakh shares; on the NSE, it closed at Rs 199.30, up 4.24 per cent with volume of 43.72 lakh shares.

Several moves tick well

THE GAIL (India) stock has been on the rise in the last few days. This is despite the stock indices closing lower.

Dealers said there has been a revised interest in the stock from select FIIs over the last few days. The interest has come after a long time.

After the public offer by the Government early this year, in which the FIIs subscribed to the stock, the interest in the stock was not there.

However, the view among the FIIs has changed now. This is primarily due to the several growth initiatives the company has undertaken outside the country. Moreover, the meeting of the company with several institutional investors recently has also brought their interest in the stock.

On Tuesday, the stock gained 1.24 per cent at Rs 241.70 on the BSE with volume of 5.70 lakh shares, on the NSE, it closed at Rs 241.75, up 1.19 per cent, with volumes of 15.47 lakh shares.

Chunk of shares changes hands

PHARMA company Kopran on Tuesday recorded huge volumes both on the BSE and the NSE. The rise in the volume was accompanied by increase in stock price.

On the BSE, the stock gained 7.65 per cent at Rs 73.20 with volumes of 56.96 lakh shares; on the NSE, it closed at Rs 73.35, up 7.55 per cent, with volumes of 97.90 lakh shares. The total combined volumes of 1.54 crore shares is almost 72 per cent of the company's paid-up capital.

Dealers said the sudden jump in volumes is due to large chunk of shares changing hands between two leading market players.

The talk is that these shares have changed hand to help one of the players to come out with financial problems, which he has been facing for the last couple of years.

Virendra Verma

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