Financial Daily from THE HINDU group of publications
Tuesday, Jul 09, 2002
Financial Daily from THE HINDU group of publications Tuesday, Jul 09, 2002 |
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Markets
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Stock Markets Columns - Ear to the ground Tele Data Info up on orders talk
Tele Data Informatics has been attracting market interest in the last few days. On Monday, the stock gained 12.17 per cent at Rs 17.05 on the BSE with volume 5.20 lakh shares. Dealers attribute the increased interest in the counter to the company bagging orders to supply software packages for the shipping industry; expectations of a tie-up with a US-based software company for supplying education software and expectations of better financial performance compared to its guidance for the year ended June 2002. Market sources expect the EPS for the year to be more than Rs 7.
GSFC gains on sell-off hopes
GUJARAT State Fertiliser Corporation (GSFC) gained sharply on Monday on both the BSE and the NSE. On the BSE, it gained 16.96 per cent at Rs 40 with volumes of 3.64 lakh shares. On the NSE, it closed at Rs 39.50, up 14.82 per cent with 6 lakh shares being traded. The rise in the share price was mainly on market talk that the Gujarat Government would disinvest its stake in the company to a strategic partner. Dealers said that the bidding process for the Gujarat government stake was expected to very aggressive, as in Central Government's divestment of its stake in PSUs such as IBP and IPCL.
TIDCO stake sale talk lifts TPL
ANOTHER stock to gain on stake disinvestment talks was Tamilnadu Petro Products Ltd (TPL). On Monday, the stock gained 15.90 per cent at Rs 28.80 on the BSE with volumes of 6.90 lakh shares. On the NSE, it closed at Rs 28.60, up 15.09 per cent with volumes of 20.40 lakh shares. Talk in the market was that TIDCO, holding 17.61 per cent stake in the company, might sell its stake in line with the Tamil Nadu Government's plans to exit from the various such investments.
Virendra Verma
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