The Hindu Business Line : Rama Newsprint: `Momentum' buying seen

The stock of Rama Newsprint has surged close to 150 per cent ever since its re-listing on September 20. According to market sources, `momentum' traders were targeting re-listing candidates, which were fundamentally quite decent. According to traders, momentum players expected that mutual funds and other institutions would pick up stake in these companies, which could help the stock stay firm for sometime.

However, there is a word of caution for retail investors. In the case of Birla VXL, another company that got listed recently (on September 5) after restructuring, after opening at Rs 18.80 on the day of its re-listing, the stock hit a high of Rs 128.35 on the BSE within a span of 10 days. Now, the stock is quoting at about Rs 80.

K.S. Badri Narayanan

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