Financial Daily from THE HINDU group of publications
Thursday, Jul 14, 2005
Financial Daily from THE HINDU group of publications Thursday, Jul 14, 2005 |
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Markets
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Stock Markets Columns - Ear to the ground Frontier Spring up on turnaround hopes
THE Frontier Spring stock on Wednesday popped up 16.83 per cent to close at Rs 10.90 on the BSE with a fivefold increase in traded quantity. According to dealers, a section of market operators have started accumulating the stock over improvement in the fundamentals in the automotive ancillary company. The sales figure of the company is said to be growing at an accelerated pace piggyback on the auto sales boom. The stock had created its 52-week high on June 14 at Rs 11.50. The company has returned to profits in 2004-05 after reporting loss in the previous fiscal. During the last fiscal, the company's sales improved by 85 per cent.
MTNL gains on revenue expectations
The MTNL stock was in the buzz on Wednesday on renewed expectation over the pending merger proposal (with BSNL) as also increase in revenue from this quarter. According to industry sources, the company's recent change in call pulse rate to 2 from earlier 3, which became effective from July 1, is likely to increase the company's revenue by 33 per cent. The counter on Wednesday logged a traded quantity of 14.74 lakh shares on the BSE as a few market players began to take positions in the counter. The share prices finished 1.73 up at Rs 138.
NIIT Tech betting on performance The NIIT Technologies counter had a decent volume of 1.07 lakh shares on the BSE. The share price, intra-day, moved up sharply to Rs 170. However, it closed marginally in the loss at Rs 165.50. According to market sources, the stock's liquidity has increased substantially as Openheimer has liquidated its holding of 14 lakh shares completely in the last fortnight. A new set of operators is understood to have entered the counter as the expectation of better results in the June quarter is high on the Dalal Street.
Jayanta Mallick
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