Financial Daily from THE HINDU group of publications
Friday, Apr 14, 2006
Financial Daily from THE HINDU group of publications Friday, Apr 14, 2006 |
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Markets
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Stocks Columns - Ear to the ground
Infosys Technologies has been dragging the indices in the last few days. The markets are poised for the results announcement by the company on Friday as this is expected to set the tone not just for IT companies, but also the broad market for the short term. Dealers say that institutional buyers - foreign and domestic - are unwinding their position in the stock ahead of the earning declaration. While large investors are booking profit, there is some buying being initiated by small investors with an eye on the long term upside in the counter. The stock, which touched its 52-week high of Rs 3,400 last week, has come down to Rs 3,020. It lost 1.77 per cent on Thursday, down Rs 54.50 from the day's opening of Rs 3075.30. Over 6.8 lakh shares were traded on the BSE.
Veena Venugopal
More Stories on : Stocks | Ear to the ground | Infosys Technologies Ltd
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