Financial Daily from THE HINDU group of publications
Saturday, Jan 28, 2006
Financial Daily from THE HINDU group of publications Saturday, Jan 28, 2006 |
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Markets
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Stock Markets Columns - Ear to the ground Reliance Capital up on talks of retail broking
RELIANCE Capital has been attracting buying interest from investors on news that the company is planning to enter retail broking in a big way. The stock ended 2.98 per cent higher on Friday at Rs 456.15, compared to the previous close of Rs 442.95. Dealers said there is a talk that the company may be appointed portfolio manager for a Singapore-based fund for a handsome fee. On the NSE, the Reliance Capital share ended 3.20 per cent higher from previous close at Rs 456.85. Over 10.59 lakh shares were traded on the BSE while at the NSE, over 19.32 lakh shares changed hands. Analysts also attribute the good third quarter profits for the investor interest in the counter. For the quarter ended December 31, 2005, the company posted a net profit of Rs 64.98 crore, as compared to Rs 24.38 crore in the same period previous year.
Amara Raja gains on Q3 results AMARA Raja Batteries hit the upper circuit on Friday on the back of good third quarter results and on market buzz that the company may diversify into newer segments from the passenger car segment batteries such as the two-wheeler segment. The share price of the company shot up to touch the 10 per cent upper ceiling limit of Rs 238.8, compared to the previous close of Rs 217.10 on the BSE. About 1.13 lakh shares were traded on BSE, as compared to the two-week average of 37,049 shares. On NSE, the Amara Raja Batteries share touched Rs 240.05 on Friday, higher by 10 per cent compared to the previous close of Rs 218.20. Over 1.68 lakh shares were traded on NSE. The share price has risen by 22.4 per cent over a week. Dealers noted that the third quarter results were also very encouraging for the investors. The company's net profit for the quarter rose to Rs 6.86 crore as against Rs 1.42 crore in the corresponding period previous year. Analysts also expect better earnings after the company completes its expansion plan by September this year. The company is expanding its automotive/monobloc battery capacity to 30 lakh units per annum from 24 lakh units at an investment of Rs 11.6 crore.
Max India rises on `buy' recommendation MAX India Ltd shares are attracting buying interest after a local brokerage recommended a `buy' on the stock, saying the company was one of the best vehicles for investing in the healthcare and insurance business in India. The stock rose by 10.93 per cent on the BSE to Rs 763.55 from the previous close of Rs 688.30. The share price shot up by 27 per cent over a week from Rs 600.95. On the NSE, it rose by 11.37 per cent to Rs 764, compared to the previous close of Rs 686. About 50,000 shares were traded on the BSE, compared to the two-week average of 11,172. On the NSE, over 96,779 shares were traded.
Rajesh Abraham
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