• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

RELIANCE Industries on Tuesday not only overcame the weakness of Monday but spurted higher than Friday's closing price primarily on the back of institutional buying.

According to market sources, clearly stronger hands have taken control over the market valuation of RIL. Overseas funds were understood to have been significant buyers. Though some confusion remains about the actual pricing till the fresh listing of RIL after demerger, there were indications that the big and long-term players are comfortable with the current price level.

Most of the brokerages have been engaged in number crunching to arrive at a "fair valuation" before the business split is formalised. Dealers said the quantum of liquidity would eventually determine the price discovery for the counter this week.

The stock closed at Rs 866.75, up 4.4 per cent. The traded quantity of the stock was also higher than the recent average.

Acquisition talk lifts it

3I INFOTECH moved up by around 10 per cent with huge surge in volumes as a section of market players speculated about the possibility of fresh acquisition by the company.

The stock closed at Rs 187.85 on the BSE after creating a 52-week high at Rs 188.30. The traded quantity on the BSE was over 23 lakh shares against 7.12 lakh in the last fortnight.

The company, however, has not made any disclosure regarding fresh acquisition plans.

Betting on decontrol

KK BIRLA group outfit Zuari Industries, formerly Zuari Agro, gained 4.53 per cent on the BSE to close at Rs 117.60 on Tuesday.

According to market sources, expectation of further liberalisation of pricing control over fertiliser is behind the current interest in the stock. Because of subsidy and price control, profitability of fertiliser manufacturers remains restricted.

Jayanta Mallick

More Stories on : Stock Markets | Ear to the ground

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Herbertsons open offer on January 16 as per SC order

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line