Financial Daily from THE HINDU group of publications
Wednesday, Apr 07, 2004
Financial Daily from THE HINDU group of publications Wednesday, Apr 07, 2004 |
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Markets
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Stock Markets Columns - Ear to the ground Switching calls
THE recent acquisition of Hexacom by Bharti Tele-ventures is acting negatively for MTNL. Though there is no loss of business for MTNL, market players have decided to shift to Bharti Tele-ventures from the public sector telecom company. Dealers said several players — both institutional and non-institutional investors — sold MTNL shares and bought Bharti Tele-ventures on Tuesday. The talk is that market players view very fast growth for Bharti while MTNL is unlikely to show any growth. This is due to the various expansion plans Bharti has undertaken over the years. Dealers said despite various initiatives, MTNL is still not able to show the growth, both in terms of subscribers and profitability. The talk is that there has been good demand for the company's cellular phones but the company's poor service is a drawback. On Tuesday, the stock of MTNL was down 4.49 per cent at Rs 133.90 on BSE with volume of 9.16 lakh shares and on NSE it closed at Rs 134, down 4.52 per cent with volume of 17.33 lakh shares.
Big Bazaar cheers AFTER moving in a narrow range, the stock of Pantaloon Retail is back on the buy list of several high net worth individuals. Dealers said the interest in the counter is on expectation of another high growth potential in the next fiscal. The company has July-June fiscal. If the market talk is to be believed, the company has been able to sustain the footfalls and also able to convert them into sales over the last few months. This is despite the increased competition from other retail stores. This has been possible for the company mainly due to the success of its discount stores `Big Bazaar' in various parts of the country. Players said the company's exclusive tie-ups with select brands are also considered positive. Recently, Pantaloon had a tie-up with Arvind Brands' Rug & Tuf Jeans. The talk is that company is contemplating similar tie-ups with other brands also. On Tuesday, the stock price of Pantaloon gained 5.04 per cent at Rs 303.45 on the BSE with volume of 19,354 shares and on the NSE it closed at Rs 302.15, up 4.03 per cent, with volume of 35,809 shares.
Virendra Verma
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