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MRF touches 52-week high

Virendra Verma

TYRE company MRF Ltd has been witnessing active buying in the last few days. The scrip has been in focus after the acquisition of five per cent stake by stock broking firm Enam Securities from the market. There has been a continuous buying in the counter after that.

Even tough the broking firm has ruled out any plans to takeover the company, the market players are not taking it seriously. Anticipating some development on this area, the scrip touched a 52-week high today at Rs 833.95 on the BSE.

However later in the day, some profit booking was seen that pulled down the scrip to end the day at Rs 797.05, still a rise of 8.46 per cent. On the NSE, it ended 9.30 per cent higher at Rs 795.95 with 17,409 shares being traded.

Ray Ban in the sun

SUNGLASS maker Ray Ban Sunoptics scrip was up sharply on the bourses along with increase in volumes. On the BSE, it ended at Rs 62.15, up 13.10 per cent with 9.61 lakh shares traded. On the NSE, the scrip closed 12.11 per cent higher at Rs 61.10 with 6.3 1 lakh shares being traded.

The scrip has been witnessing active buying and has increased by around 50 per cent the last couple of months. The belief in the market is that the parent company Luxoticca would be making an open offer shortly for 20 per cent stake.

The price range being talked in the market is between Rs 80-100 per share. But the market regulator SEBI is yet to hear anything from Luxoticca.

HCL Technologies in funds' buying list

HCL Technologies is now under fund managers' buying list. A number of mutual funds have been buying into the counter during the week. There is some positive development in the company which has turned fund managers bullish on the counter.

The scrip today ended at Rs 231.45, up 2.37 per cent on the BSE and on the NSE it closed at Rs 229.10.

However sharp difference in the volumes on BSE and NSE was seen today in the counter. On the NSE, 39.47 lakh shares were traded and on the BSE, the volume was 15.96 lakh shares.