Financial Daily from THE HINDU group of publications
Wednesday, Jul 23, 2003
Financial Daily from THE HINDU group of publications Wednesday, Jul 23, 2003 |
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Markets
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Stock Markets Columns - Ear to the ground Big shopper on the prowl
ONE of the biggest brokers in the stock market was seen buying heavily into Tata Infomedia and Lupin Ltd on Tuesday. According to dealers, the broker was buying large amount of shares on both the counters. The share has been moving up since last week on news that the Tata group has put a part of Tata Infomedia's equity on the block. The publishing company's share closed the day at Rs 159.15 on the BSE, 9.65 per cent higher than its previous close. While about 1.4 lakh shares were traded on the BSE, more than 2.2 lakh shares changed hands on the NSE. The stock of pharma major Lupin closed at Rs 335.45 per share, up 6.66 per cent on the NSE. Combined volumes on the two exchanges stood at nearly 16 lakh shares.
ING Vysya creeping up
THE ING group, the majority owner of the South-based bank, is learnt to be increasing its stake in the bank. According to market sources, the new promoters are doing creeping acquisition from the market. The share gained more than 10 per cent on Tuesday to close at Rs 346 on the NSE. Volumes have also increased with the NSE reporting transactions of about 3.22 lakh shares and the BSE witnessing trades totalling 1.15 lakh shares.
Propped by retail buyers RETAIL investors have been stocking up on Ankur Drugs and Pharmaceuticals Ltd for a few days now. According to dealers, several small brokers have been recommending the stock on expectation of the company showing good numbers in the first quarter. Retail investor interest now appears to be well kindled with the stock ending on Tuesday on the upper 20 per cent circuit. It closed at Rs 14.79 per share compared to its previous close of Rs 12.23 per share on the BSE. About 1.16 lakh shares were traded on the exchange.
Dinesh Narayanan
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