Financial Daily from THE HINDU group of publications
Friday, Nov 15, 2002
Financial Daily from THE HINDU group of publications Friday, Nov 15, 2002 |
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Markets
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Stock Markets Columns - Ear to the ground MphasiS up on BPO order talk
THE Bangalore-based software solutions provider, MphasiS BFL rose five per cent on the bourses on Thursday as the market buzzed with rumours of the company bagging a large Business Process Outsourcing (BPO) order. According to analysts, the company is close to wining a large order for its BPO subsidiary, MsourcE, from a prominent UK-based financial services company with interests in insurance. MphasiS' share price closed at Rs 574.75 on the BSE, gaining 4.71 per cent with 19,150 shares being traded. On the NSE, the stock closed at Rs 580.35, up 5.30 per cent over the previous close with 78,169 shares being traded.
Institutional interest seen in ACC
CEMENT major ACC moved up marginally on the bourses on Thursday. According to dealers, a couple of domestic mutual funds were seen buying into the counter, especially on the NSE where the counter saw volumes of 12.22 lakh shares. Analysts said the interest in the stock was on account of an expected rise in cement prices. They added that the market expected a good performance from the company.ACC's share price closed at Rs 147 on the BSE, gaining by almost one per cent with volumes of 6.31 lakh shares. On the NSE, the stock gained 0.79 per cent to close the day at Rs 147.
Recruitments drive up Infosys
Frontline infotech company, Infosys Technologies, witnessed increased activity on Thursday. The market talk was that the industry heavyweight had added substantially to its existing staff strength indicating good order inflow for the future. According to analysts, the company is expected to add over 1,000 people in Q3 and Q4 to service recent contract wins. Overall, Infosys had found favour with the markets and is attracting substantial institutional buying on the back of strong growth projections, analysts said. Infosys closed at Rs 4133.50 on the BSE, gaining 4.28 per cent. On the NSE, the stock closed at Rs 4120.10, up 3.83 over the previous close.
Neha Kapoor
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