The Hindu Business Line : Century Text: `Buying' at lower levels

Dealers confirmed that Century Textiles, which finished 8 per cent lower in a falling market on Tuesday, attracted strong buying interest at lower levels. According to market sources, some HNIs are understood to have bought the stock substantially.

On the NSE, the traded quantity in the counter was 24.35 lakh shares, while on the BSE, 12.49 lakh shares changed hands.

Strong demand projection for cement, its prime real estate in the heart of Mumbai (40 acres) and its unfolding retail foray into readymade garments through its own chain and prospect of it becoming part of the Aditya Birla group (from the BK Birla stable), are seen as positives by a section of the market players. The stock shed 52 per cent in the last one month to close on Tuesday at Rs 277.50, after touching the day's high at Rs 299.50.

Jayanta Mallick

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