Financial Daily from THE HINDU group of publications
Wednesday, Mar 27, 2002
Columns - Ear to the ground
Mukta Arts up on new plans
THE stock of media company Mukta Arts edged up on Tuesday. Dealers said that the market was bullish on the scrip due to its forthcoming ventures.
Mukta is close to releasing its new film `Badhai Ho Badhai' which is directed by Satish Kaushik and has major stars such as Anil Kapoor among the cast. The company has also decided to release three films a year, deviating from the earlier norms of releasing two films per year.
On the BSE, the scrip closed higher at Rs 83.55 with over one lakh shares being traded on the BSE and on the NSE at Rs 84 with 1.44 lakh shares being traded.
Cement stocks fall on earnings fears
CEMENT stocks seemed to be at the receiving end as frontline counters fell on the bourses on Tuesday.
Market sources said that there were fears of earnings being hit in the forthcoming quarter and subsequent `degrowing' in the sector. Supply has surpassed demand in the cement sector, with prices remaining depressed during the past few weeks.
Gujarat Ambuja (closed at Rs 204.75, down 2.21 per cent), Grasim Industries (Rs 288.30, down 1.23 per cent), L&T (Rs 181.55, down 2.64 per cent), India Cements (Rs 30.10, down 1.31 per cent), Madras Cements (Rs 4300.60, down by 1.74 per cent) and Mangalam Cements (Rs 3.85, down by 13.48 per cent) were among major losers.
Wipro looking for acquisition?
INFORMATION technology major Wipro Ltd is rumoured to be looking for an acquisition.
Sources in the market said that the company could be interested in buying out the software arm of another software firm. The company seemed to be looking for expertise in a particular domain.
However, the stock went down by two per cent to close at Rs 1,662.80 with 1.14 lakh shares being traded on the BSE. On the NSE, Wipro closed at Rs 1,662.80, down 2.32 per cent with 2.8 lakh shares being traded.
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