Financial Daily from THE HINDU group of publications
Wednesday, Sep 25, 2002
Financial Daily from THE HINDU group of publications Wednesday, Sep 25, 2002 |
|
|
|
|
|
Markets
-
Stock Markets Columns - Ear to the ground Citigroup buys into e-Serve?
E-SERVE International witnessed a number of block deals on the BSE on Tuesday. The stock attracted volumes of 5.35 lakh shares on the exchange, while just 29,347 shares were traded on the NSE. Trading volumes on the NSE were, however, higher from Monday's volumes of 8,000 shares. The market talk was that the parent of e-Serve, Citigroup, had bought the shares. The seller was a private sector mutual fund. Earlier too, the parent had bought shares from the market. Despite the hike in stake by the parent, the stock price closed lower. On the BSE, the stock ended 1.40 per cent lower at Rs 564.35, and on the NSE, 0.47 per cent down at Rs 564.40.
Nestle parent increases stake
ANOTHER multinational parent that went for market purchases of its Indian subsidiary shares was Nestle SA. Dealers said the Swiss multinational was believed to have bought around 3-3.5 lakh shares of Nestle India from the market on Tuesday. This led Nestle India to a new 52-week high both on the BSE and the NSE. The 52-week high on the BSE was Rs 579.95 and on the NSE was Rs 590. However, the stock ended lower on both the bourses. Nestle closed 3.78 per cent higher at Rs 575.50 on the BSE with volumes of 2.99 lakh shares. On the NSE, the stock closed 3.48 per cent higher at Rs 570.85 with volumes of 1.96 lakh shares.
LIC active in old economy stocks
AFTER remaining low for some time, Life Insurance Corporation of India (LIC) is back in the market. Dealers said the insurance company was active in a number of old economy shares on Tuesday. Some of the prominent stocks believed to have been picked up by the insurance major include Tata Engineering, Tata Steel, Hero Honda and Hindustan Lever. The talk is that LIC believes these blue chips are currently trading at a discount to their intrinsic value.
Virendra Verma
Send this article to Friends by
E-Mail
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|