Financial Daily from THE HINDU group of publications
Friday, May 06, 2005
Financial Daily from THE HINDU group of publications Friday, May 06, 2005 |
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Markets
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Stock Markets Columns - Ear to the ground Adlabs Films spurred by expansion buzz Veena Venugopal
THE anticipated boom in the entertainment sector has led to an increased level of investor interest in the scrip of Adlabs Films. The company is expected to announce several expansion activities shortly, in the various fields that it operates in including multiplexes, film production and digital cinema. Dealers said the company is also expected to expand its market from metros to other semi urban and even rural areas. The excitement about the scrip is based on expectations of high revenue growth from these new activities, they say. The scrip touched its 52-week high of Rs 158 on Wednesday. It closed trade today at Rs. 149.50, on sound volumes. Dealers said that institutional interest in the scrip in the secondary market is low, but operators are very bullish on the stock.
No major fluctuations THE scrip of Alok Industries has been floundering despite more than average volumes traded. Operators are said to have now come to term the scrip as a laggard in the industry. Dealers said the traded volume is essentially between investors who have been holding the stock in the medium term and see no immediate upside and those who are buying in anticipation of long-term benefits in the textile sector. The scrip has been consistently registering turnover in the range of Rs 1.1 - 2.5 crore on the BSE during the last week. However, there are no major fluctuations in price in the scrip. The scrip opened and closed at Rs 63.35 at NSE, though it touched an intra-day high of Rs 64.20.
Investors churn portfolios THE sharp upward trend in the bourses this morning was used by large investors to effect reallocations in their portfolios, according to dealers. Investors, whose outlook on sectors and stocks have altered since the announcement of the quarterly results, tended to use most of the opportunity today to exit from stocks where the outlook has turned negative. Dealers said that high net worth individuals and institutions have been waiting for the index to breach the 6250 and 6300 levels in order to exit positions. Thursday's trade is said to have provided the right opportunity. Large investors are now taking fresh positions, with the clarity that the announcements of results have provided, according to dealers.
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