Financial Daily from THE HINDU group of publications
Friday, Nov 25, 2005
Financial Daily from THE HINDU group of publications Friday, Nov 25, 2005 |
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Markets
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Stock Markets Columns - Ear to the ground New retailers in demand
RECENTLY listed retail companies Provogue and Shopper's Stop are on buy list of several investors. Dealers said the buying interest in the counters has started from this week. The main reason for the interest is that their valuation is comparatively lower to big retail companies such as Pantaloon Retail and Trent. Moreover, these stocks (Trent and Pantaloon) are trading at a much high valuations compared to the growth they are likely to show. The talk is that several FIIs are now shifting from these two retail companies to Provogue and Shopper's Stop. On Thursday, Shopper's Stop rose 5.19 per cent at Rs 419.25 on the BSE and Provogue rose 8 per cent at Rs 144.
Up on rental hike WITH most hotels in major cities having full room occupancy, the stocks of leading hotel companies are on the rise. Dealers said several investors have started buying these shares. The talk is that most 5-star hotels have hiked the room rentals by 20 per cent from October. The impact of the hike would be seen in the December quarter results. The mid-sized hotels' hike is even more. On Thursday, the India Hotel stock rose 3.42 per cent at Rs 869.80 on the BSE. EIH rose 2.67 per cent at Rs 471.70, EIH Associates 1.39 per cent at Rs 138.75, Hotel Leelaventure 3.22 per cent at Rs 270.55 and Asian Hotels rose 2.67 per cent at Rs 450.
Good demand keeps it up
ESAB India, a welding equipment company, rose on Thursday. The stock closed at Rs 444.70, up 6.12 per cent, with volumes of 1.73 lakh shares on the BSE and on the NSE, it rose 6.46 per cent at Rs 445.25 with volumes of 3.39 lakh shares. Dealers said robust activity in construction and engineering sector is leading to good demand for the company's business. Moreover, the rise in the stock price of Ador Welding, which is also in similar business, is also leading to rise in the stock price of Esab.
Virendra Verma
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