Financial Daily from THE HINDU group of publications
Sunday, Sep 14, 2003
Financial Daily from THE HINDU group of publications Sunday, Sep 14, 2003 |
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Investment World
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Stock Markets Markets - Stock Markets Up `n' down the street G. Madhan
BEML (Rs 115): The stock surged 21 per cent on market talk that the company has bagged orders worth Rs 30 crore for the supply of Railway coaches. Sister PSU Bharat Electronics was also in the limelight. Welspun Gujarat (Rs 31): The stock of this submerged-arc-welded pipes maker rose 18.5 per cent on the back of huge block deals, as 21.8 per cent (about 3 crore shares) of its equity, held by IFCI, was offloaded. Jain Irrigation (Rs 84): The stock appreciated 12 per cent on expectations of new orders. Positive sentiments may also be due to the allotment of preferential equity, by the company, to raise Rs 46 crore, at a price, higher than the prevalent market price. Himachal Futuristic (Rs 31): The stock rose 12.8 per cent on the back of the company's intention to restructure its business, which is portrayed by the company as an effort to improve its earnings. Bombay Dyeing (Rs 73): This stock also went up 8 per cent on the back of moves to turnaround its textile business. Harrisons Malayalam (Rs 14): The stock fell 26 per cent - the highest loser among the swathe of stocks that were placed in the trade-to-trade segment by the NSE, to avoid circular trading. IDBI (Rs 39): The stock appreciated 15.4 per cent, on the formalisation of its acquisition of Tata Home Finance, a subsidiary of Tata Finance, during the week. Soffia Software (Rs 36): The stock rose 60 per cent following the company's acquisition of the European business of Silverline Technologies. Rain Calcining (Rs 19): The stock price of calcined petroleum coke manufacturer fell 5.7 per cent, as International Finance Corporation offloaded 3 per cent of the company's equity (26.6 lakh shares) to cash in on the bullish market conditions.
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