Financial Daily from THE HINDU group of publications
Thursday, Nov 13, 2003
Columns - Ear to the ground
Geodesic Info: Space connection?
THE stock of Geodesic Information Systems rose to a new year-high on Wednesday though big shoppers were not seen at the counter.
According to the market grapevine, the company is in talks with an associate of US space agency NASA to do some work for them.
The market was speculating of even an equity tie-up.
The stock set a new 52-week-high of Rs 278.60 before closing lower at Rs 270.
The closing level was 1.75 per cent higher than its previous closing of Rs 265.35 on the BSE.
BHEL rises on order talk
SPECULATORS as well as a couple of mutual funds were reportedly seen shopping for the shares of the public sector engineering heavyweight BHEL. The company is said to have bagged a Rs 1,600-crore contract from the Karnataka State Electricity Board. The stock gained nearly Rs 4 on Wednesday to close at Rs 460.60 on the BSE. While about 2.5 lakh shares were traded on the BSE, more than 8.5 lakh shares were traded on the NSE.
Voltas' new product on anvil?
THERE was quite a bit of action at the counter of Tata group's Voltas Ltd as foreign institutional investors actively purchased the stock.
The grapevine says that the company headed by Mr Noel Tata, who is widely expected to take over Mr Ratan Tata's mantle, is quietly working on a new air-conditioner that would cost less than half the price of air-conditioners available in the market today. Sounds something like the Rs 1-lakh car that the Tatas have been talking about.
The stock closed at Rs 123 per share or 3.32 per cent higher than its previous close on the BSE on Wednesday.
Volumes on the BSE and the NSE together stood at nearly eight lakh shares.
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