The Hindu Business Line : Value buying props up Srei

Srei Infrastructure, which closed at Rs 36.55 on the NSE on Wednesday, bucked the declining trend with 9 per cent-plus gains. The move is being seen as a result of concerted buying by investors seeking value in a counter that has corrected deeply from its recent high of Rs 85.

The stock, which reached a high of Rs 38.20 on Wednesday, recorded substantial volumes; more than 29 lakh shares were traded. The latest price is still close to the 52-week low of Rs 30. The company, which has recently shed its earlier suffix to acquire the `Infrastructure' tag, has seen FIIs holding as much as 44 per cent in March this year, while the public holding stood at 16.6 per cent.

Nilanjan Dey

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