Comments
Tata Motors’ counter continues to have a dream run on the NSE today with a huge trading volume of 2.41 crore, raising the question as to whether it has turned the speculators’ new darling on the bourses.
While comparison with Reliance may not be fair in that the share price of Reliance Industries is more than four times than that of Tata Motors, it may be relevant to note that RIL saw a trading volume of 50.37 lakh shares on the NSE.
Not to be outdone, the metal major Hindalco’s turnover crossed the 1 crore mark.
The decision to split the face value of Tata Motors from Rs 10 to Rs 2 early in September seems to have done wonders, in terms of liquidity, to the Tata Motors counter and high volume trading occurs frequently in the share.
The stock gained 4.42 per cent and the scrip moved up to Rs 188 with a trading volume of 2.41 crore shares and a value of Rs 451.90 crore.
Hindalco netted a gain of 1.17 per cent and closed at Rs 130.20 with a trading volume of 1.02 crore and value of Rs 132.99 crore.
The other gainers included Cairn (closing price Rs 298.75, a gain of 3.73 per cent), Ambuja Cement Rs 153.10 (gain of 2.65 per cent) and Maruti, which had something to cheer with the company announcing resumption of partial production at Manesar, gained 2.38 per cent to close at Rs 1,051.65.
Reliance, which came out with its Q2 numbers last week, lost 3.9 per cent to close at Rs 833.05 and BPCL shed 2.97 per cent of value to close at Rs 636. SAIL, NTPC and BHEL were among the top ten losers on the NSE.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.