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Block deal in Aztec Software

Virendra Verma

A block deal in Aztec Software was seen on Monday. Market sources said the deal on the BSE was for 17,60,000 shares at Rs 35. A total of 17,60,018 shares were traded on the BSE (in demat trade) and the scrip ended 7.9 per cent higher at Rs 37.55. This bl ock deal was struck soon after the opening of the market. The average daily volume on the BSE in the last six months is around 14,000 shares.

M&M creeps on acquisition drive

Automobile major Mahindra & Mahindra was up on back of increase in the promoters' stake through the creeping acquisition route. Last week, the SEBI had increased the creeping acquisition limit from five per cent to 10 per cent. The scrip was up 5.35 per cent on the BSE to close at Rs 67.55. On NSE, the counter gained 5.54 per cent to end at Rs 67.80. Earlier, the promoters had said that they would be increasing their stake through creeping acquisition. The rise in the scrip was also on market talk that the company has increased the production of vehicles from five days to seven days a week.

Apollo Tyres rolls on auto recovery

After a long time the Apollo Tyres scrip was seen in action. The attraction in the counter was on the back of a revival in the automobile sector. Dealers said the company is expected to benefit from the revival in the automobile sector, especially the co mmercial vehicle segment. Apollo Tyres is a major player in the segment. A small lot of buying was made by select domestic funds, which are bullish on auto stocks. The belief of the fund managers is that after the automobile stocks, auto-ancillary stocks should see an upward movement. Among this list, they see Apollo Tyres as their top pick. The scrip closed 8.45 per cent higher at Rs 50.10 on the BSE and at Rs 50.65 at the NSE.