Financial Daily from THE HINDU group of publications
Wednesday, Jun 23, 2004
Financial Daily from THE HINDU group of publications Wednesday, Jun 23, 2004 |
||
|
|
||
|
Markets
-
Stock Markets Columns - Ear to the ground JISCO-JVSL merger ruling
TALK that the court judgment on the JISCO-JVSL merger is to come through shortly perked up interest in the JISCO counter. Dealers said that expectation that the ruling would go in favour of JISCO saw the company's stock surge by 5.45 per cent to end the day at Rs 168.45 with almost 4 lakh shares traded on the BSE. The stock of JVSL ended at Rs 7.24 on the BSE with around 1.68 lakh shares traded. The share swap ratio should stand at 16:1 i.e., for every 16 shares of JVSL one would get one share of JISCO.
Market buzz boosts interest in Wimco
Another counter that has been on the market radar on expectations of a favourable court ruling is that of matchmaking company, WIMCO. The stock witnessed sustained interest on market rumours that court judgment on the company's open offer issue is coming through. Yet the market appears to be divided over the issue and the rumour by itself is not a sign of market consensus. The counter, which is also a potential delisting candidate, witnessed some block deals on Tuesday with a large chunk being offloaded by Alliance. According to market sources, Alliance Equity Fund sold 2.24 lakh shares of WIMCO at the rate of Rs 22.02. Alliance Monthly Income offloaded 2.31 lakh shares of the company at the same rate. The identity of the buyer was not yet known. The stock ended the day at Rs 23.55 up 7.05 with around 5.62 lakh shares traded on the BSE.
Dips on fund shedding The counter of Jaiprakash Associates plummeted on the bourses on Tuesday on the back of sustained fund selling. According to dealers, GMO has turned seller at the counter over the past few days. The stock ended the day at Rs 80.30, down 7.75 per cent, with around 3.88 lakh shares traded on the BSE.
Bata buckles under selling pressure Yet another counter that appeared to buckle under selling pressure was that of Bata India Ltd. Word on the street was that a large bull operator, with significant interest in the counter, has turned seller. The stock ended at Rs 49.45, down 5.09 per cent, with around 2.45 lakh shares traded on the BSE.
Deeptha Rajkumar
More Stories on : Stock Markets | Ear to the ground
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|