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ER a small correction, the counter of Sterlite Industries is back on the buyers' list.

Dealers said several market players are buying the stock ahead of the listing of Vedanta Resources, which holds around 55 per cent in Sterlite Industries. Vedanta's roadshows began on Thursday in the international market, and if market talk is to be believed, the response has been good from investors.

Dealers said the management of Vedanta is positioning Sterlite as the main company. In addition, the positive outlook for copper is also attracting market attention in the counter.

On Friday, Sterlite Industries' stock gained 7.90 per cent at Rs 1,359.85 on the BSE with volume of 1.20 lakh shares.

Raining gains

THIS year's good monsoon is driving the stock price of agro-chemicals company Nagarjuna Agrichem.

Dealers said some select investors have been eyeing the stock over the last month, resulting in the stock price gaining around 80 per cent. Even at these levels, select buying in the counter is seen.

The main factor for the interest in the counter is that the company is a major player in herbicide, which is seen as a fast growing segment within the agro-chemicals business.

The good outlook for the company is also seen from the rise in net profit in the current fiscal. In the first half of current fiscal, the company reported net profit of Rs 6.94 crore compared with 5.05 crore for the entire fiscal last year.

With good monsoon, the dealers expect the next six months also to be good for the company.

On Friday, the stock price of Nagarjuna Agrichem gained 4.85 per cent at Rs 35.65 on the BSE, with volume of 7,590 shares.

Back on the board

AFTER being ignored for a long time, the stock of software and IT education company NIIT is back on the buy list of several institutional investors.

There has been active buying by some local funds. Dealers said these funds are actively picking the stock on the company's plans to separate its software and computer education business. The talk is that with this development, the company would be back on the growth path in the next few years.

On Friday, the stock gained 3.92 per cent at Rs 204 on the BSE, with volume of 10.75 lakh shares; on the NSE, it closed at Rs 203.60, up 3.35 per cent, with volume of 33.17 lakh shares.

Virendra Verma

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