Financial Daily from THE HINDU group of publications
Friday, Jan 21, 2005
Columns - Ear to the ground
BOC India up on growth potential
THE stock of BOC India, a company into industrial oxygen business, was accumulated on Thursday by select market players.
Dealers said several broking firms have started advising their clients to buy the shares of the company following its good financial results for the December quarter.
The talk is that the growth shown by the company in the last quarter is likely to be maintained in the next few quarters. The bullish sentiment towards the stock is also seen from the company's foray into South India where it is setting a plant for supplying industrial oxygen to Jindal Vijaynagar steel plant.
The upbeat is also due to strong growth for the steel sector where the company supplies most of the industrial oxygen.
On Thursday, the stock price of the company gained 3.49 per cent at Rs 66.70 on the BSE with volumes of 5.70 lakh shares; on the NSE, it closed at Rs 66.55, up 3.18 per cent, with volumes of 12.97 lakh shares.
Kavveri Telecom gains on export order talk
KAVVERI Telecom, the recently listed company on the BSE Indonext segment, has been witnessing hectic activity. The stock price of the company has jumped from Rs 23 (first day of trading) on January 7 to today's closing price of Rs 67.10, a rise of 191 per cent.
The buying is mainly from select market players.
Dealer said the buying in the stock is due to the company bagging an export order of around Rs 50 crore from Germany.
The talk is that several market players have now shown interest in the stock.
However, trading volume in the counter is a concern as the stock has a very low floating stock. On Thursday, the stock closed at Rs 67.10, up 3.31 per cent, with volumes of 4,150 shares.
Derivatives position lifts indices
IT was another day when the stock indices recovered from the their day's low and closed in positive territory.
The talk is that several foreign institutional investors are now cutting their open positions in the derivatives segment. Moreover, several FIIs who had been net sellers both in the cash and derivatives market have now turned buyers in the derivatives segment.
The talk is that on these expectations several market players built fresh positions in the last one-hour of trading resulting in improving stock indices. Sentiment also improved among market players as these positions were built on the last trading day of the week. Markets are closed on Friday.
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