Financial Daily from THE HINDU group of publications
Tuesday, Feb 14, 2006
Financial Daily from THE HINDU group of publications Tuesday, Feb 14, 2006 |
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Markets
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Stock Markets Columns - Ear to the ground Century Enka gains on board revamp buzz
CENTURY Enka spurted on Monday on the buzz that Mr Kumar Mangalam Birla is likely join the board of the company, dealers said. The stock rose 11.18 per cent on the BSE to Rs 200.35, compared to the previous close of Rs 180.20. Over 1.57 lakh shares were traded in the counter on Monday, compared to the two-week average of 60,368 shares. On the NSE, it closed at Rs 200.15, an increase of 10.55 per cent from the previous close of Rs 181.05. Over 1.74 lakh shares changed hands on the exchange. Dealers said the share prices also moved up on reports that the promoter-family will not interfere in its running and that it will be run as a `professional company' by an independent board of directors.
MTNL up on `special dividend' talk MTNL moved up smartly on talk that the company was likely to pay handsome special dividend, after it received over Rs 1,200 crore income-tax refund, dealers said. The stock closed higher by 6.58 per cent on the BSE at Rs 149.75, compared to the Friday's close of Rs 140.90. About 27 lakh shares were traded on the BSE, compared to the two-week average of 9.19 lakh shares. On the NSE, MTNL ended at Rs 149.75, a gain of 6.28 per cent from the Friday's close of Rs 140.90. The stock touched an intra-day high of Rs 151. Over 70 lakh shares were traded on the exchange.
TNPL betting on Budget sops TAMIL Nadu Newsprint and Papers (TNPL) saw some buying interest on Monday, on reports that the Government may `correct' some of the `anomalies' in the excise and customs duty front for domestic paper companies in the Budget, dealers said. The stock shot up 11.54 per cent on the BSE to close at Rs 103.4, compared to the previous closing of Rs 92.70. Over 6.2 lakh shares were traded on the exchange as against the two-week average of 1.46 lakh shares. On the NSE, the TNPL stock flared up 12.16 per cent to end at Rs 103.30. Over 13.25 lakh shares were traded on the exchange.
Rajesh Abraham
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