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NESTLE India touched a new 52-week high on Thursday on active buying from the Swiss parent — Nestle SA. Trading volumes in the counter increased sharply. The stock touched 52-week high at Rs 575 before closing at Rs 571.20, up 2.02 per cent on the BSE. Volumes increased to 7.49 lakh shares from 8,312 shares traded on Wednesday. On the NSE, the stock ended 572.50, up 2.38 per cent with volumes of 9.74 lakh shares.

Dealers said that the shares were primarily bought by the company's parent and that the seller was UTI. Last month also, UTI had sold around 10-12 lakh shares of Nestle to the parent company.

`Ambition' drives up Hero Honda

THE addition of new model `Ambition' in Hero Honda's stable seemed to have enthused the market players. Analysts tracking the company said the new model had been attractively priced and this should give a niche to the company. Ambition is a 133-cc model with a price tag of around Rs 45,000 (ex-showroom). Some analysts feel that the vehicle is likely to witness good sales, based on the past performance of the company's various models. On the back of this expectation, some funds are understood to have bought the shares of th emotorcycle major. On the BSE, the stock ended 0.71 per cent higher at Rs 275.25 with volumes of 2 lakh shares. On the NSE, Hero Honda closed at Rs 276, up 1.04 per cent with volumes of 2.45 lakh shares.

Tata Engg rises on fund buying

TATA Engineering was another automobile stock that was on the funds' buying list on Thursday. The market talk is that the company is likely to come out with better sales figures for its Indica cars. The turnaround last year had attracted a lot of market players to the stock. A leading foreign broking firm is understood to have bought around 10 lakh shares. On the BSE, the stock ended 1.57 per cent higher at Rs 142.15, with volumes of 10.11 lakh shares. On the NSE, the stock closed at Rs 142, up 1.39 per cent with volumes of 24.05 lakh shares.

Virendra Verma

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