Financial Daily from THE HINDU group of publications
Thursday, May 09, 2002
Financial Daily from THE HINDU group of publications Thursday, May 09, 2002 |
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Markets
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Stock Markets D-Link posts gains on VoIP prospects Neha Kapoor
MUMBAI, May 8 THE share price of D-Link India Ltd, the Mumbai-based networking and communications company, has gained close to 34 per cent in the last one month on the back of good business prospects in Voice over Internet Protocol (VoIP) products. VoIP has been legalised in India from the beginning of this financial year and is expected to be a huge market going forward. D-Link has aggressively positioned itself to take advantage of this market potential with its range of VoIP products. "We have already conducted the first display for our VoIP products in India and are getting a steady flow of enquiries. In fact, we expect to clinch the first order for this range of products by June this year," a senior company official said. On the Bombay Stock Exchange (BSE), D-link's stock has risen from Rs 80.75 on April 8 to today's close of Rs 108.20 after touching an intra-day high of Rs 112. According to analysts, other positives for this counter include establishment of its software R&D centre in Bangalore and a positive outlook for financial year 2002-03. "We expect our software development business, which grossed Rs 7.35 crore last year, to grow by 100 per cent in 2002-03. Also, the company's sales have jumped by 25 per cent in April, which is generally a lean period for us. This bodes well for the rest of the year," the D-link official said. An analyst with a local brokerage firm said, "the stock is also attracting a lot of fund interest and is likely to see some activity on that front in the next few weeks." The company official confirmed that it was receiving a lot of enquiries from funds and that a few of them had already started buying the stock. He, however, declined to identify the buyers. He said that institutional holding in the company currently stood at 5.6 per cent. Increased interest is also seen from the rise in trading volumes over the last one month. From an average of around one-lakh shares each on both the BSE and the NSE, volumes have increased to around 4-4.5 lakh shares each on these exchanges.
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