Financial Daily from THE HINDU group of publications
Sunday, Jun 02, 2002
Markets - Commentary
Adlab Films gains 16 pc
HMT: The machine tool manufacturer has made substantial gains on the bourses last week unaffected by war clouds that have affected the general market sentiment. The stock shot up by 76.7 per cent during the week from Rs 15.90 to Rs 28.10. Traded volumes surged four fold to over four lakh shares. The stock appears to be moving up in expectation of a dividend declaration by the company.
Adlab Films: Future business plans appears to be fuelling interest in this stock. Not only is the company growing in its core business of film processing but is also now focussing on film production and theatre management. Investors appear to be buying into the stock in expectation of good future prospects. The stock appreciated by 16 per cent from Rs 69.60 to Rs 80.85 in the last week. Traded volumes rose in tandem with the share price to over two lakh shares from over 60 thousand shares the week before.
Balmer Lawrie: The stock has jumped 45.68 per cent from Rs 61.85 to Rs 90.10 in one week. The Government's decision to hive off four of its businesses ahead of privatisation of the company appears to have triggered interest in the stock.
Rashtriya Chemicals and Fertilizers: This is another possible disinvestment candidate. The stock moved up from Rs 25.65 to Rs 34.30 on the back of rumours that the bidding price for disinvestment is pegged at around Rs 80-90 per share. Traded volumes surged from 34 lakh shares to over 84 lakh shares.
Essar Oil: The stock gained 40.57 per cent during the week to close at Rs 7.45. The stock also hit the upper circuit filter for a couple of days during the week. The sustained market interest appears be fuelled on the heels of reports of the company expanding its retail network to market petrol and diesel.
Kaashyap Radiant: The stock was certainly not in investor's favour during the week. Its price dipped 21.9 per cent to settle at Rs 8.20. Traded volumes more than doubled to 7.6 lakh shares during the week.
IBP: Its share price tumbled to Rs 569.70 from Rs 750, a 24 per cent drop during the week, although traded volumes were weak at just over thousand shares.
Index heavyweights: Investor interest in index heavyweights such as HLL, ITC, Infosys Technologies and Reliance appear to be still shadowed by the political uncertainty and the possibility of a war. Infosys was the biggest loser shedding 10.4 per cent to Rs 3382. HLL also followed suit and dipped 7.34 per cent to Rs 184.85. The magnitude of loss in Reliance and ITC was however much lower at 2.63 per cent and 0.42 per cent. While Reliance closed at Rs 264.45, ITC ended at Rs 611.20.
Tata Chemicals: The company's share price slumped 10.80 per cent to settle at Rs 44.20. It came out with its annual results during the week, reporting a 23 per cent drop in net profit. Traded volumes were curtailed at 89 thousand shares compared to 1.7 lakh shares the week before.
Send this article to Friends by E-Mail
Stories in this Section
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, 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