Financial Daily from THE HINDU group of publications
Friday, Jun 25, 2004
Financial Daily from THE HINDU group of publications Friday, Jun 25, 2004 |
||
|
|
||
|
Markets
-
Stock Markets Columns - Ear to the ground Kalyani Steel back in limelight
THE stock of Kalyani Steel witnessed sustained buying support on the bourses with the counter appreciating by almost 6 per cent at close on Thursday. The buzz in the market was that the management was buying at the counter. The stock ended at Rs 35.75 with around 40285 shares traded on the stock exchange. However, in contrast, other steel counters such as JISCO, SAIL and Essar ended on a lacklustre note. This was despite the bullish forecasts that steel prices are likely to remain high through 2004.
Hope on forecast THE stock of Satyam witnessed a sharp upmove on rumours that the company is likely to up its guidance in the June quarter. Dealers said that there is talk in the market that the company could perform very well and as such has indicated it may hike its guidance. The stock ended at Rs 302 up 5.61 per cent with around 48 lakh shares traded on the BSE.
Trust on port
THE Concor counter appreciated by 2.68 per cent to end firm at Rs 548.85 on the BSE. The stock had hit an intra-day high of Rs 629.95. There was speculation in the market that the company, which has emerged as the highest bidder for the Rs 900-crore third container terminal at JNPT, may be close to bagging the project. However, the very low volumes at the counter did raise eyebrows. An illiquid counter at the best of times, sources said that today's volumes were a first even for this stock. When going into print it was confirmed that JNPT on Thursday issued a letter of intent to Concor-Maersk to implement the project.
Regains on funds backing
THE stock of Lupin Ltd regained some sheen with the counter witnessing some fund-based support. Dealers said that the counter had come under pressure largely on account of a bull operator having turned seller at the counter over the last two days. The stock, which has come off its high of Rs 800-odd level is perceived to be attractively valued at its current levels. Sources said that there is expectation that there would no further downside from these levels. The stock ended the day at Rs 639, up 5.09 per cent, with around 96,357 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
|