Financial Daily from THE HINDU group of publications
Tuesday, Jan 04, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jan 04, 2005 |
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Markets
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Stock Markets Columns - Ear to the ground D-Link India: Institutions' interest seen
COMPUTER hardware and networking company D-Link India witnessed rise in its stock price on Monday. It gained 8.33 per cent at Rs 129.45 on the BSE with volumes of 2.90 lakh shares; on the NSE, it closed at Rs 129, up 8.18 per cent, with 7.52 lakh shares traded. Dealers said the interest in the stock was due to active buying from institutional investors. The talk is that the company has been performing well and the investors have taken notice of this. The view among them is that the stock is undervalued compared to its fundamentals. Another positive factor favouring the company is its presence in a niche segment within the IT sector.
Polyplex Corp let down by overseas arm
SHARES of Polyplex Corporation have been on a downward movement. On Monday, the stock closed at Rs 253.95, down 3.07 per cent, on the BSE with volumes of 64,891 shares; on the NSE, it ended at Rs 253.55, down 3.52 per cent, with volumes of 1.37 lakh shares. Dealers said the fall in the stock price is seen after the listing of its Thai subsidiary Polyplex Thailand. Market expectation was that the IPO of Polyplex Thailand would list in a premium and which in turn would make the valuation of Polyplex Corporation even higher. As this has not happened with Polyplex Thailand continuously trading below the issue price, several investors are selling the shares of the company.
Gail betting on infrastructure activity The stocks of GAIL (India) and other companies engaged in gas business jumped sharply on Monday, surprising lot of market players. Dealers said the rise in the stock price of GAIL also fuelled interest in companies such as Indraprastha Gas, Petronet LNG and Gujarat Gas. The talk is that several institutional investors have shown interest in these stocks as they feel that these companies would have huge growth potential following the Government's commitment towards infrastructure. On Monday, the GAIL stock gained 8.41 per cent at Rs 250.10 on the BSE, Petronet LNG was up 19.78 per cent at Rs 37.55, Indraprashta Gas jumped 18.81 per cent at Rs 108.65 and Gujarat Gas closed at Rs 620.20, up 6.11 per cent.
Virendra Verma
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