Financial Daily from THE HINDU group of publications
Saturday, Feb 18, 2006
Financial Daily from THE HINDU group of publications Saturday, Feb 18, 2006 |
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Markets
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Stock Markets Columns - Ear to the ground Placement talk pushes Adlabs Rajesh Abraham
Adlabs Films Ltd counter witnessed huge buying interest on Friday, following the market talk that the company was planning to place a part of its equity with some investors at a good premium on the current market price, dealers said. When contacted, a senior official of the company denied any such move. The company had already received the board approval for an FCCB issue late last month, raising speculation that the conversion price may be much higher than the current levels. Adlabs Films share prices have risen by 28 per cent over the week. On Friday, the shares jumped by 10.25 per cent on the BSE to close at Rs 455.10, against the previous close of Rs 412.80. The share price hit 52-week high of Rs 474 on intra-day. The volumes were also higher at about 29 lakh shares, compared with two-week average of Rs 2.14 lakh. On the NSE, the shares flared up by 10.48 per cent to close at Rs 454.45 against the previous close of Rs 411.35. Over 53 lakh shares changed hands on the exchange.
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