Financial Daily from THE HINDU group of publications
Friday, Dec 23, 2005
Financial Daily from THE HINDU group of publications Friday, Dec 23, 2005 |
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Markets
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Stock Markets Columns - Ear to the ground Jaiprakash Associates up on re-rating hopes
Dealers said the rise in the stock came after a leading foreign broking firm came out with a report this week on construction sector and Jaiprakash Associates is one of their best picks. Company's interest in cement, power and hotels is also attracting investors to the stock. With cement and hotels sectors doing well, dealers expect some re-rating for the stock. With lot of investments coming up in construction sector, the outlook for the company looks good to dealers.
Fresh buying lifts it CHAMPAGNE Indage, a company engaged in making of champagne, was locked in the 5-per cent upper circuit on Thursday. The stock closed at Rs 433.70 on the BSE with volumes of 3.28 lakh shares. The talk is that several foreign investors are buying the shares of the company in the last few days. Several FIIs have already picked stake in companies such as UB, McDowell and Radico Khaitan. Dealers said the interest in Champagne Indage has come, as it is the sole listed company which is engaged in making champagne, and the company's products are well accepted in global market. The company's initiative to make champagne at a low cost for Indian consumers is seen as a positive move.
FII interest seen AMONG the small-cap category, a stock that is attracting foreign investors is Intellvision Software. In the last two trading sessions, Matterhorn Ventures has bought more than 1.5 lakh shares of the company. Last month, three FIIs bought the shares of the company at Rs 90 a share. Dealers said the interest of FIIs in the stock is coming due to the company's plans to provide security system to banks. Recently, it received orders from ICICI Bank. The talk is that several banks have also shown interest in the company's product and this could lead to sharp growth in the next few years. On Thursday, the stock rose 5 per cent at Rs 111.10 on the BSE with volumes of 1.75 lakh shares.
Virendra Verma
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