SHARES of NDTV, a company into TV news channel business, have been on the rise in the last one week.

Dealers said several market players are accumulating the stock of the media company in anticipation of share placement.

Whether the placement of the shares will be made through the stock market route or through issue of fresh shares to some investors is not known.

The talk is that the placement of the shares would be made at above Rs 200 per share.

Another reason for the rise in the stock price is the company's good financial performance for the third quarter.

Dealers said the company reported much better performance compared to other media companies that are into TV news business.

On Thursday, the stock gained 6.15 per cent at Rs 166.55 on the BSE with volumes of 2.54 lakh shares; on the NSE, it closed at Rs 169, up 7.64 per cent, with volumes of 8.95 lakh shares.

Steel stocks firm on price hike hopeSteel stocks have once again come into the limelight in anticipation of further rise in steel prices. The talk is that hike would be in the region of Rs 1500-1800 per tonne. The price rise is likely to be effective immediately.

Dealers said several market players on Thursday built huge positions on leading steel counters.

Market players feel that the hike in steel prices would indicate further uptrend in steel demand which in turn would lead to another strong quarter as well as next fiscal performances for most of the steel companies.

Earlier there was some confusion among the market players over the uptrend in steel demand.

The stocks that were heavily bought on Thursday include Essar Steel (up 10 per cent at Rs 43.25 on the BSE), Tata Steel (up 3.18 per cent at Rs 395.85), SAIL (up 2.10 per cent at Rs 65.60), Jindal Steel (up 1.75 per cent at Rs 950.45) and Jindal Iron (up 3.65 per cent at Rs 360.35).

Mangalam Cement up on stake sale talk

CLOSE on the heels of the ACC deal, there are indications that Mangalam Cement could be another acquisition target.

Dealers said several multinational companies have been looking at acquiring cement companies in India and Mangalam could be the best target company.

However, the exact detail of the stake acquisition was not known. Company officials were also not available for comment.

In anticipation that a multinational company may be eyeing a stake in Mangalam, the stock price of the company hit 20 per cent upper circuit.

It ended at Rs 89.20, up 18.62 per cent, on the BSE with volumes of 11.55 lakh shares; on the NSE, it closed at Rs 90.80, up 19.87 per cent, with volumes of 34.61 lakh shares.

Virendra Verma

(This article was published in the Business Line print edition dated February 4, 2005)
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