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THE recently-listed IPOs - AIA Engineering and Everest Kanto Cylinder - are attracting a lot of institutional investors' interest since they got listed earlier this week.

On Friday too there was active buying in these companies' shares. The stock of Everest Kanto rose 20 per cent to close at Rs 241.10 on the BSE and AIA Engineering rose 10.99 per cent to Rs 566.90.

Dealers said the interest in these counters is from FIIs and mutual funds. The talk is that these institutional investors did not get the desired number of shares in the IPO and are now purchasing them from the open market. Once their buying is over, day traders would begin selling, feel traders.

D S Kulkarni Developers: Betting on Pune realty

THE Pune-based real estate developer D S Kulkarni Developers was locked in the five per cent upper circuit on Friday. The stock closed at Rs 167.65 on the BSE with volumes of 3.15 lakh shares; on the NSE, it closed at Rs 167.90 with a volume of 3.67 lakh shares.

Dealers said the rise is due to good demand for real estate, both residential and commercial space in Pune. D S Kulkarni is a leading real estate developer and has been developing a lot of properties in the city.

The talk is that several of the investors who are optimistic about the outlook of real estate in Pune are buying the shares of the company.

VSNL gains on fund buying

AFTER a gap, FIIs are back again to buy the shares of telecom company Videsh Sanchar Nigam Ltd.

Dealers said the interest in the stock is due to various initiatives undertaken by the company in the telecom space. The recent overseas acquisition is also seen as a positive for the company.

Several FIIs have placed orders with top foreign broking firms to buy the company's shares and some buying by them was seen on Friday.

The stock rose five per cent at Rs 424.50 on the BSE with a volume of 21.61 lakh shares; on the NSE, it rose 5 per cent at Rs 424.50 with volumes of 57.09 lakh shares.

Virendra Verma

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