THE stock of Abhishek Industries has come into the radar of institutional investors. Analysts say the company has had several visits by prospective investors. The stock gained by over 2 per cent on Friday.

Currently, mutual funds and UTI own 1.62 per cent and foreign institutional investors 2.93 per cent in the company. Both these categories are seeking fresh exposure, according to market participants.

Asahi scrip bullish on expansion plans

SHARES of glass manufacturer Asahi India Glass have been seeing a lot of action lately. The stock touched its 52-week high of Rs 190 earlier in March. Though, it has come off those highs, dealers say that there is still a lot of interest in the stock.

The stock closed on Friday at Rs 166.90 on the BSE.

A section of market is buoyant on the company's expansion plans. Dealers expect the company to enhance capacity of its glass-manufacturing units as well as enter some new areas of related business.

Interest wading on bank stocks?

BANKING stocks, which have had quite a run up lately, are likely to slowdown, according to dealers. Market participants say that barring a few small stocks, most bank stocks are likely to witness corrections over the next fortnight.

The exception to this, being talked about currently, is South Indian Bank. Dealers say that there are expectations of a positive announcement coming from this company.

Overall, the Bankex, BSE's index of banking stocks, has ended the month barely below its level at the beginning of March. However, it touched its 52-week high level on March 11.

Traders predict a lull in the sector as the markets have now taken into consideration the Government's announcement of banking reforms and allowing mergers and acquisitions in this space.

Meanwhile, South Indian Bank closed on Friday with a gain of 2.42 per cent.

Veena Venugopal

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