Financial Daily from THE HINDU group of publications
Thursday, Feb 16, 2006
Financial Daily from THE HINDU group of publications Thursday, Feb 16, 2006 |
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Markets
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Stock Markets Columns - Ear to the ground Hectic trading in Bombay Burmah
BOMBAY Burmah Trading, a Nusli Wadia group company, is witnessing sudden spurt in activity and price appreciation. According to market sources, the stock is one of the latest discoveries by big-time market players. Apart from the market buzz that the company may sell off its coffee plantation business, its business interests in tea, rubber, timber, automotive parts, branded laminated items (Sunmica and Formica), and medical accessories and equipment make it a compelling bet for long term, a fund manager said. Its investments are also understood to have gone up manifold in recent times (indirect investment in Go Air is reported to be less than 51 per cent). On Wednesday, the stock shot up by 7.75 per cent to close at Rs 291.25 on the BSE. The traded quantity in the counter witnessed hectic activity with 1.14 lakh shares changing hands. The counter's average daily BSE volume in the last fortnight was 50,245 shares. In the last one week, the stock has appreciated 18.08 per cent. On Tuesday, the stock had touched a new 52-week high of Rs 309.8 on the BSE.
Jayanta Mallick
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