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GINNI Filament, a textile company, saw its stock rise on Tuesday. It closed at Rs 37.70, up 10.23 per cent on the BSE with a volume of 2.82 lakh shares and on the NSE, the closing price was Rs 37.80, up 10.36 per cent, with a volume of 5.55 lakh shares.

Dealers said the rise in the stock price was ahead of the company's follow-up issue. The talk is that the issue is likely to hit the market next week and some players are pushing the price ahead of the issue. The issue price is likely to be at a discount to the market price.

`Buy' report drives Tata Motors up

TATA Motors was the biggest gainer among the index stocks on Tuesday. The stock rose 6 per cent at Rs 626.30 on the BSE with a volume of 18.19 lakh shares; on the NSE, it closed at Rs 625.55, up 5.69 per cent, with a volume of 54.04 lakh shares.

Dealers said the rise in the stock price was after a broking firm, which caters to a large number of institutional investors, came out with a `buy' report on the stock. The firm said the increase in the price for medium and commercial vehicles of the company provides a positive outlook.

Another factor for the rise is that a leading FII has given order to buy shares of Tata Motors worth Rs 100 crore. This led to the sharp rise in the stock price on Tuesday. Whether the entire order has been completed was not known. But several day traders bought the shares on the strength of this talk.

Gateway Distriparks betting on expansion

GATEWAY Distriparks, a logistics company, saw its stock rise on Tuesday. It rose 5.02 per cent at Rs 271.85 on the BSE with a volume of 7.56 lakh shares; on the NSE, it closed at Rs 271.15, up 4.51 per cent, with a volume of 27.83 lakh shares.

Dealers said the rise in the stock price came after a leading domestic broking firm came out with a `buy' report on the company. The rise is attributed to the good growth of the company's business after the expansion.

The company recently raised around Rs 350 crore from a global depository receipt issue. Funds from the issue would be used for expansion.

The broking firm expects sharp growth in earnings after the expansion and this has led it to recommend a `buy' on the stock.

Virendra Verma

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