Financial Daily from THE HINDU group of publications
Saturday, Jan 11, 2003
Financial Daily from THE HINDU group of publications Saturday, Jan 11, 2003 |
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Markets
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Stock Markets Columns - Ear to the ground Institutional interest in J&K Bank
JAMMU & Kashmir Bank attracted market attention both from institutional and retail investors. Value buying in the stock was seen on a general rise in public sector bank scrips. The bank has te lowest NPA in the industry and also is a good dividend yield stock, dealer said. On Friday, the stock closed at Rs 114.35, up 6.82 per cent with volumes of 1.66 lakh shares on the BSE. On the NSE, the stock closed at Rs 114.30, up 6.77 per cent with volumes of 6.03 lakh shares.
Goa Carbon up on arm's strength
CALCINED petroleum coke manufacturer, Goa Carbon, has been in the limelight in the last few days. The stock has already gained over 25 per cent during the week. The rise was on the turnaround of the company's subsidiary Paradeep Carbon. Another factor for the rise is the good quarterly performance. The company's July-September quarter was not good as the company's plant was shut for 50-60 days during that period affecting the top and bottom lines. Dealers said the company has also undertaken modernisation of the plant and the benefit of this would be seen in the current quarter and in next fiscal. On Friday, the stock closed 11.89 per cent higher at Rs 37.65 with volumes of 1.36 lakh shares on BSE.
Number hopes lift Cummins India
CUMMINS India gained ahead of its quarterly results. Dealers said that the net profit for the third quarter would be higher than the previous quarter of last year. This led to some institutional and informed purchases. The stock ended 5.65 per cent higher at Rs 50.50 with volume of 90,513 shares on the BSE. On the NSE, the stock closed at Rs 50.25, up 4.80 per cent with volumes of 1.19 lakh shares.
Virendra Verma
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