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SHARES of India's leading two-wheeler manufacturers, Hero Honda and Bajaj Auto, have been touching all-time high levels each day.

In the last one-week, these stocks have seen a sustained rise as several fund houses are buying them. Dealers said the concern over the outlook of these companies is over.

Earlier, there had been concern over the growth and profits margins of these companies. The talk is that several of the broking firms are of the view that there is still scope for lot of growth for these companies in the domestic market.

Moreover, talk is that the current quarter for these companies would be very good due to the festive season.

On Monday, Bajaj Auto rose 2.84 per cent at Rs 2,057 on the BSE and Hero Honda rose 2.76 per cent at Rs 838.55.

Mahindra Gesco gains on FII interest

MAHINDRA Gesco, a real estate company, rose on Monday. It closed at Rs 350.80, up 8.93 per cent, on the BSE with volumes of 1.11 lakh shares; on the NSE, it closed at Rs 350.40, up 8.79 per cent, with volumes of 2.21 lakh shares.

Dealers said the rise in the stock price is due to the buying interest of FIIs. Mahindra Gesco is one of the best listed real estate companies in India and has built some of the best commercial and residential properties in India.

The talk is that some of the leading foreign real estate companies might pick stake in the company and this is seen as the reason for several FIIs picking stake in the company.

Traders exit ahead of expiry

WITH just three days left for the expiry of November derivatives contract, several traders are off-loading their positions. Dealers said this was one of the reasons for stock prices of several index heavyweights going down on Monday that in turn pulled down the Nifty and Sensex.

Due to the uncertainty prevailing over the outlook, traders are not willing to hold on to their position. Last month, several traders lost a lot of money due to the sharp fall.

The buzz is that these traders would stay away from the market for the next few days and take fresh positions based on the rollover positions, especially those of FIIs.

Virendra Verma

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