• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

FOLLOWING recent active buying in ITC stock, another cigarette company that has attracted market players' interest is GTC Industries.

Dealers said the company has shown good growth in the last few quarters despite the slowdown of the industry. The company, which owns brands such as Panama, has reported EPS of around Rs 6.5 in the first nine months of current fiscal and is likely to show even much better performance in the March quarter.

The talk is that the Supreme Court ruling on luxury tax would also benefit the company. Several market players who are bullish on ITC have now started buying the shares of GTC.

On Thursday, the stock of the company was locked in 20 per cent upper circuit. It closed at Rs 33.90 on the BSE with volumes of 4.82 lakh shares; on the NSE, it closed at Rs 33.80 with volumes of 8.09 lakh shares.

Gujarat NRE Coke up on bright prospects

WITH strong financial performance by steel companies and outlook for the sector also bright, market players have again turned bullish towards Gujarat NRE Coke, the company engaged in making metallurgical coke - a raw material for making steel.

The talk is that most of the steel companies are facing shortage of coke and this has resulted in sharp rise in the coke prices. Moreover, the prices are likely to remain firm in 2005 and this would further lead to sharp growth in bottom line and top line for the company.

The company's expansion plans are also leading to bullish sentiment towards the stock.

On Thursday, the stock was locked in the 10-per cent upper circuit. It closed at Rs 179.20 on the BSE with volumes of 4.88 lakh shares; on the NSE, it closed at Rs 179.30 with volumes of 8.16 lakh shares.

FIIs turn buyers

AFTER remaining somewhat bearish for the past few weeks, two leading foreign broking firms have again turned bullish towards Indian equity market.

Dealers said the rise in stock prices, especially in index stocks, on Thursday was mainly due to purchases by FIIs.

The talk is that one US-based foreign broking firm and a European broking firm, which is the largest firm in India, bought large quantity of index stocks for their FII clients as these two firms believe a run-up in the stock prices ahead of the Union Budget next month.

Virendra Verma

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Roshni Nadar exempted from making open offer for HCL Tech

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line