The Hindu Business Line : FII interest brightens Suzlon

SUZLON Energy, a wind energy company, was among the major gainers on Tuesday. The stock rose 5.06 per cent at Rs 762.15 on the BSE with volumes of 16.47 lakh shares and on the NSE, it closed at Rs 763.65, up 5.28 per cent, with 30.71 lakh shares traded.

The closing price was also its all time high since the listing last month. Dealers said there was FII interest for Suzlon post-listing. Good financial results announced by the company for September quarter have further brought interest in the stock.

The talk is that several FIIs are bullish on the companies that are engaged in the business of non-conventional energy, as the growth of this business is much higher than conventional energy business.

Active buying in NTPC

ANOTHER energy company that is being eyed by investors is National Thermal Power Corporation. Dealers said there has been fresh interest in the stock from some of the new FIIs, which have entered India recently.

The talk is that NTPC is one of the biggest power companies and looking at its investments plans for the next few years, it should offer good returns to investors. The interest in the stock has also come from domestic buyers including retail investors after the slide in the stock market last month. Dealers said most of the investors are now looking at it as safe investment with good returns rather than risky investment, which have potential to give very high returns. This is due to the sharp erosion in the value of several of the small- and mid-cap companies' stock prices.

On Tuesday, NTPC rose 4.28 per cent at Rs 102.35 on the BSE with volumes of 35.42 lakh shares and on the NSE, it closed at Rs 102.25, up 4.28 per cent, with volumes of 1.04 crore shares.

ITI: Betting on GSM prospects

ITI Ltd, a public sector telecom products manufacturer, has been in the limelight in the last few days. On Tuesday, the stock rose 9.75 per cent to Rs 67 on the BSE with volumes of 42.72 lakh shares; on the NSE, it closed at Rs 67.15, up 9.54 per cent, with volumes of 90.25 lakh shares.

The rise in the stock price is on expectation of good growth for the company's products in GSM category. Dealers said this segment had very good growth in last fiscal and in the current year also, the trend would be same.

Big investment plans by BSNL, a leading telecom service provider, are expected to boost ITI's topline. Some expect that the company could come out of losses if it executes all the orders from BSNL.

Virendra Verma

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