Financial Daily
from THE HINDU group of publications

Friday, October 19, 2001





Ear to the ground
Tatas mull stake hike?
Tata group has again started increasing its stake in some of the group companies through the creeping acquisition route. The group is understood to have started buying shares of some of the group's leading companies in the past few days.

Bajaj Auto: Firmed up by volumes
THE eight per cent rise in sales volume recorded by Bajaj Auto could have some positive influence on the company's share price. The company appears to be getting its act together in the motorcycle market by focussing on the four stroke segment.

BPCL/HPCL: Transient gains
THERE could be some near-term gains in the two oil refining Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd following the Government's decision to go in for strategic sale of their equity before the end of this fiscal.

Off the ticker
Select counters lose speculative interest
Select counters which witnessed a smart trading activity in the recent past turned subdued, suggesting the waning of speculative element in these stocks. The following are some such stocks.

On the hedge
Option premium falls in Nifty October Calls
THE bearish sentiment in the spot market rubbed off on the derivatives segment as well during Thursday's trading at the National Stock Exchange. This was reflected by the fall in option premium on Nifty October 960 and 980 calls and increase in premium i n Nifty October 960 and 980 puts.

Madura Coats buyback offer ends on Oct 20
THE share buy-back offer of Madura Coats to its shareholders on a tender basis at Rs 27 per equity share ends on October 20.

Special Court attaches Ketan Parekh's assets
THE stockbroker, Mr Ketan Parekh, has been ``notified'' by the Custodian appointed under the Special Court and all his assets stand attached.

Tech stocks lead the slide
The BSE Sensex snapped a seven day winning streak with a net decline of 62.52 points or 2.05 per cent on Thursday. The move past the psychological 3000-point level on Wednesday turned out to be short-lived as the Sensex edged below this level to close at 2981.33 points.

Technical Analysis
Bears dominate
THURSDAY's trading activity was totally controlled by the bears. Bulls were unable to make any impact. The intra-day movement in index was around 15 points. It closed with a loss of 14 points with respect to Wednesday's close. The market sentiment readin g continues to remain bullish.

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