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EVEN as the telecom sector is going through massive pricing competition, the stock of Bharti Tele-Ventures was back in the limelight on Wednesday with a number of institutions buying the stock. The active interest from the domestic institutions led to trading volumes doubling on the bourses. On the BSE, volumes increased from 78,000 shares on Tuesday to 1.42 lakh shares and on the NSE from 1.35 lakh shares to 3.52 lakh shares.

The active interest in the counter was on expectation that the company might show excellent results for the March 2003 quarter. In the previous quarter also it had shown good results, better than the market expectations.

The stock gained 3.72 per cent at Rs 29.30 on the BSE 4.61 per cent at Rs 29.50 on the NSE.

Mukta Arts film belies hopes?

THE new film from Mukta Arts "Ek Aur Ek Gyarah" seemed to have failed to enthuse the market players. Dealers said most of the analysts who have seen the film are not impressed with the film. This led to some selling pressure in the counter on Wednesday. The talks are that the there could be some more selling in the next couple of days. The film is scheduled for release on Friday.

Already a number of institutional investors had exited the stock over the last few months. The stock ended at Rs 50.40, down 4.55 per cent with volumes of 66,633 shares on the BSE. On the NSE, the stock closed at Rs 50.70, down 3.80 per cent with volumes of 1.93 lakh shares.

Stake sale, number hopes up Bajaj Auto

Two-wheeler major Bajaj Auto stock has remained firm in the depressed market situation. The key factor for the stock to remain firm is the good volumes the company has targeted for the next fiscal. Dealers said the company has already sounded its vendors for increased supply of various automotive equipments.

Besides, there are talks that the company might give equity stake to its foreign technology provider Kawasaki at a premium to the current market price.

These hopes have resulted in active purchases in the counter. Bajaj Auto ended 0.99 per cent higher at Rs 496.95 with volumes of 91, 035 shares on the BSE. On the NSE, the stock closed at Rs 501.70, up 1.96 per cent with volumes of 1.88 lakh shares.

Virendra Verma

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