Financial Daily from THE HINDU group of publications
Tuesday, Mar 15, 2005
Financial Daily from THE HINDU group of publications Tuesday, Mar 15, 2005 |
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Markets
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Stock Markets Columns - Ear to the ground Mercator Lines: On bonus voyage
Brokers say that investors and operators are building up positions in the stock based on the speculation about a possible announcement soon. The stock gained 5 per cent on Monday to close at Rs 99.75. It has appreciated by over 13 per cent from the start of the month. The spurt has been on the back of sound volumes as well. The company is also announcing plans for aggressive growth with investments of over Rs 1,300 crore. It is also hoping to buy at least six vessels and diversify into the bulk segment, according to media reports. Foreign institutional investors hold close to 20 per cent in the company and their attention to the stock is also spurring domestic interest in it, brokers say.
Expansion plans keep it fit
NEWS about Apollo Hospital's international expansions has rekindled interest in the stock, after the surge it witnessed in mid- February. Market participants have taken the development that it is going to launch branded healthcare facilities across Europe, the UK, Asia and Africa very well and are expecting more such announcements in the immediate future. Analysts tracking the company believe that the international plans of the hospital chain would be both through the direct route and through franchisees. Though the stock touched its 52-week high of Rs 364 last month, it lost a bit on profit booking. Brokers say that there is a lot of steam left in the stock. It gained Rs 11.60 on Monday to close at Rs 340.15 on the BSE. The stock has also been recording higher volumes. It closed trade on Monday with a turnover of Rs 3.16 crore on the BSE.
Forging ahead on liquidity hopes FORGING companies have been one of the darlings of the bourses and riding this wave now is M M Forging. Brokers say the company is expected to announce good results for the current quarter and this is providing wind to the scrip. The stock gained Rs 11.15 or 5.13 per cent on Monday to close at Rs 228.70. The company is currently listed on the BSE Indonext and market speculation is that it may soon get listed on the NSE also. Market participants believe that the increased liquidity in the stock, once it's listed on NSE, will lend further fillip to the stock.
Veena Venugopal
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