Date:18/11/2004 URL: http://www.thehindubusinessline.com/2004/11/18/stories/2004111802431300.htm

Back KPIT Info at new high on fund advice

THE KPIT InfoSys stock on Wednesday touched new high. It closed at Rs 516.65, up 4.95 per cent, on the BSE with volumes of 10,341 shares; on the NSE, the stock closed at Rs 514.20, up 4.6 per cent, with volume of 50,453 shares.

Dealers said the interest in the counter came after a leading broking firm recommended a buy on the stock. The firm is bullish on the stock and feels that the company's software business is performing well.

The talk is that this company would show good growth in the next few quarters which would be much higher than most of the market players' expectation.

Gains on FIIs' interest

AFTER pharmaceutical stocks, it is the turn of companies engaged in hospitals business to attract market fancy. In the list was Indraprashta Medical Corporation.

Several market players have shown interest in the stock. The main argument for their investment is that the company's hospital in Delhi has reached a stage from where the growth would be sharp.

Moreover, this company is part of Apollo Hospital has also brought interest into the stock.

If market talks are to be believed, several FIIs have shown interest in the stock. The talk is that the valuation of the hospital is being done which is much higher than the current market price. On Wednesday, the stock price of the company gained 8.7 per cent at Rs 31.85 on BSE with volume of 4.47 lakh shares and on NSE it closed at Rs 31.50, up 8.43 per cent with volume of 19.54 lakh shares.

Jumps on real estate

WITH real estate prices in Mumbai shooting up, select market players are accumulating stock price of Nesco Ltd. Dealers said the company has huge real estate in suburban area of Goregaon in North Mumbai.

The talk is that the total market value of the real estate is around Rs 700-800 crore. Currently, the company's main source of income is renting out the land for exhibitions and functions. Several real estate developers and corporates have shown interest in buying the land. The developmental activities by various developers around this area have also brought faith of the market players that the company would sell the land.

However, no concrete development has taken so far from the company's level.

On Wednesday, the stock gained 5 per cent at Rs 187.70 on the BSE with volumes of 2,064 shares.

Virendra Verma