Financial Daily from THE HINDU group of publications
Thursday, Jun 06, 2002
Financial Daily from THE HINDU group of publications Thursday, Jun 06, 2002 |
|
|
|
|
|
Markets
-
Stock Markets Columns - Ear to the ground Wimco in MF buy list
MUTUAL funds are eying Wimco now after the stock has risen by over 300 per cent in the last couple of months. Dealers said a leading private sector mutual fund bought around five lakh shares on Wednesday. The market view is that there could be some major development in the company. Besides the turnaround talks floating in the market and a possible open offer from the Swedish parent, there are talks of acquisition of the company. The market talks suggest that ITC might be interested in buying out the company as the safety match is a complementary product to cigarettes. On the back of these talks, Wimco on Wednesday ended 12.48 per cent higher at Rs 31.95 on the BSE with volumes of 3.19 lakh shares. On the NSE, it closed 10.84 per cent higher at Rs 32.30 with volumes of 15.39 lakh shares. In the opening session, there was price difference of around Rs 4 in the stock between the NSE and BSE.
Titan ticks on gold, Tidco sale talk
THE stock of watch manufacturer Titan Industries was locked in the 20 per cent upper circuit on Wednesday. The stock closed at Rs 72.30 on the BSE and at Rs 71.85 on the NSE. The volumes in the counter were also sharply higher. On the BSE, volumes amounted to 10.48 lakh shares compared to just 65,916 shares traded on Tuesday. On the NSE, volumes in the stock increased from 1.58 lakh shares to 8.59 lakh shares. Dealers said the market is looking at the company's gold reserves. They expect the company to gain following the rise in the gold prices both in the international and domestic market. In addition, the sale of Tidco stake in the company is also being talked about. Sources said that Tidco might sell its stake around Rs 80-85 to some strategic investor or to the Tatas. On these expectations, the Titan stock witnessed heightened action.
UTI turns buyer in index stocks
AFTER remaining a seller in the market in the last few weeks, UTI turned buyer on Wednesday. Market sources said that the country's largest fund bought large quantities in most of the index stocks. They said this was one of the main factors for rise in the major stock indices. With the return of UTI on the buyers' list, the market mood has turned optimistic in the absence of FIIs.
Virendra Verma
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
|