The Hindu Business Line : SAIL steals the show

WITH Steel Authority of India Ltd (SAIL) entering into the dividend list after a gap of 15 years, the stock market seems to have turned more bullish towards the stock. This was seen from the price movement on Monday when the stock gained despite it going ex-dividend.

The company last week announced an interim dividend of Rs 1.5 per share.

Dealers said the interest in the stock has come due to the strong third quarter results. Initially after the results were out, the stock had fallen from the day's high. But after looking at the results in detail, the market analysts are impressed with the working of the company.

Several institutional investors have also taken fresh position in the stock.

On Monday, the stock price of SAIL gained 5.01 per cent at Rs 63.95 on the BSE with volumes of 1.81 crore shares; on the NSE, it closed at Rs 63.95, up 4.92 per cent, with volumes of 5.65 crore shares.

Bata hopes on good prospects

SHARES of Bata India are being accumulated by select market players on expectation of good financial performance from the company for December quarter, which is also the last quarter for the company.

However, the company has already posted higher net loss in the first three quarters compared with last year (2003) performance.

Market talk is that the company has undertaken restructuring exercise in 2004 and its impact would be seen in this year (2005). The company's proposed rights issue at around Rs 55-64 is also seen a positive for the stock.

On Monday, the stock of Bata gained 3.15 per cent at Rs 88.50 on the BSE with volumes of 31,102 shares; on the NSE, it closed at Rs 88.70, up 4.05 per cent, with volumes of 1.98 lakh shares.

Value pick at play

DALMIA Cement (Bharat), a company with a strong presence in South India, is considered as a good value stock in the cement sector.

Dealers said the company performance has been good in the last few quarters and its upcoming expansion would further benefit the company and its shareholders.

Moreover, the stronghold the company has in the southern-region is a big positive for the company. Several big investors are accumulating the stock as they feel that within the cement sector, this company would do well in the long term.

On Monday, the stock of the company gained 9.49 per cent at Rs 382 on the BSE with volumes of 16,054 shares; on the NSE, it closed at Rs 381, up 7.63 per cent, with volumes of 50,502 shares.

Virendra Verma

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Elder Pharma board okays pref allotment to Citigroup

The ICRA Online Mutual Fund Rankings 2005

ICRA Online MF awards presented

Non-promoter co acquires 15% in Duncans Ind

Bull domination

Sensex zooms past 6,550

Govt divestment plans a positive step, say marketmen

SAIL steals the show

Short-term reversal likely in PNB, Nifty

Sensex scores a ton for 2nd day in row