Nagarjuna Constn gains on good order position
Mumbai: The stock price of Nagarjuna Construction Company (NCC) is in limelight over the last one-month gaining over 50 per cent due to good construction orders of around Rs 1,200 crore. Brokers and analysts said the stock was being accumulated both from retail and big investors on good valuation of the company compared to other construction companies. The stock of NCC has increased from Rs 45 in the beginning of May to today's closing price of Rs 68.80 on BSE, a rise of 53.33 per cent. Along with the rise in the stock price, volumes have also increased. In today's trading, volumes were 75,259 shares.
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Colgate Palmolive moves up on bonus hopes
Kolkata: The Colgate Palmolive stock on Friday moved up on market expectation over a bonus issue. A section of market players felt that a buyback of shares by its US parent was also a possibility. ASK Raymond James on Thursday, put out a buy recommendation for the stock. Colgate is expected to declare its results on Tuesday. It has already declared two interim dividends totalling Rs 4.25 per share. According to Ajay Jaiswal of Lohia Securities, the market also added premium to the Colgate stock in anticipation of Unilever's probable exit from the oral care business globally. ``If Unilever moves out, it is likely that HLL may also seek an exit from the oral care business. This, in turn, may mean a broader smile for Colgate'', he observed. Incidentally, in April, HLL denied market talk that it may sell Pepsodent and Close Up brands to Colgate. The Colgate stock today closed at Rs 147.75 (Rs 134.20) on the BSE after touching a day's high of Rs 153.80. On the NSE, it closed at Rs 147.90 (Rs 134.20). On the BSE, the counter's volume was at 4.49 lakh shares, up from yesterday's figure of just 46,294 scrips. On the NSE platform, it recorded a traded quantity of 7.78 lakh shares (17,848 shares). The stock's average daily volume on the NSE in the past two months has been 65,864 shares and in the last six months, 44,548 shares. On March 26, it had hit the 52-week low at Rs 120.
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Reliance, Infosys, ITC sparkle
Mumbai: The counters of Reliance Industries Ltd (RIL), Infosys Technologies and ITC Ltd witnessed heavy foreign institutional investors (FIIs) buying. This effectively lifted the Sensex. A prominent foreign fund, according to dealers was seen to be quite active in these counters. The Infosys Technologies stock ended higher by 3.35 per cent at Rs 2,953 with 2.91 lakh shares being traded on the BSE. On the NSE, the share price went up by 3.94 per cent to close at Rs 2,972.35 with 9.13 lakh shares being traded. Shares of Reliance Industries Ltd ended higher at Rs 313.20, up by 0.5 per cent with 22.30 lakh shares being traded on the BSE. On the NSE, the share price went up by 0.26 per cent closing at Rs 313.30 with 55.65 lakh shares changing hands.
ITC Ltd's stock went up on the BSE by 2.21 per cent at Rs 705.80 with 2.76 lakh shares being traded and on the NSE, it increased by 2.40 per cent to close at Rs 707 with 6.23 lakh shares being traded.
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Zee Tele brightens on CAS outlook
Mumbai: Expectations of a favourable outcome from the conditional access system propelled Zee back into the limelight after a brief selling spree. Dealers said that the counter witnessed buying from foreign institutional investors (FIIs). Zee is expected to benefit from the introduction of the CAS with increased revenues directly reflecting in its bottomline. The company has invested in CAS and intends to be a leading player in the distribution business as well. The share price of Zee Telefilms went up by 7.54 per cent to close at Rs 92.75 with 74.03 lakh shares being traded on the BSE. The stock closed higher by 8.12 per cent at Rs 93.25 with 1.60 crore on the NSE.
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Britannia shares stay crisp
Mumbai: There is no substitute for the comfort a well-managed company provides to its investors. On the other hand, a board room dispute between the management and promoters may not necessarily hamper the company's stock valuation or its corporate perception, analysts said. The recent development at Britannia Industries Ltd has not had any impact on its share price so far. For the last one month, the share price has been in the range of Rs 528-533 on the Bombay Stock Exchange. According to some analysts, the exit of a CEO in the stature of Sunil Alagh could have an impact on the fundamentals of Britannia in the long run. Britannia, just as other FMCG companies, was impacted by the overall slowdown in consumer spending. For the third quarter, the company had reported a net profit of Rs 25.1 crore for the December 2002 quarter against Rs 22.7 crore in the year-ago period on sales of Rs 332.1 crore (Rs 348 crore).
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Deutsche MF size swells to Rs 1,000 cr
Mumbai: Deutsche Asset Management, which began operations in mid-January in the country, has crossed the Rs 1,000-crore mark in assets under management under its four investment plans. The mutual fund size has grown to Rs 1,060 crore as of today, said Sandeep Dasgupta, head of Asset Management in India. However, as per the fund's fact-sheet dated June 2, total funds managed by it were Rs 978 crore. Mr Dasgupta said that more than Rs 80 crore has come in the past four days. The fund has been attracting investors to its debt plans, which grew nearly 60 per cent in about a month. As on June 2, total assets under the three schemes stood at Rs 943 crore compared to Rs 597 crore on April 30. Deutsche Premier Bond Fund currently has a corpus of 229 crore, Short Maturity Fund has Rs 351 crore and Insta Cash Plus has Rs 363 crore.
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AK Capital leads in pvt debt placement
Kolkata: AK Capital Services has emerged as the top arranger for private placement of debt during 2002-03, according to a company release. During the year, AK Capital has participated in placements of Rs 10,897 crore, accounting for around 25 per cent of the market share, according to figures compiled by Prime Database. More than 70 issues were handled, and in 22 of these, the company was the sole arranger. AK Capital was followed by the likes of SBI Cap, Centrum, UTI Bank, Allianz and RR Finance. SBI Cap, the No 2 player, recorded Rs 8,154 crore, representing 19 per cent of the market, thanks to the 36 issues that it handled.
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Rupee firms up; gilts weaken
Mumbai: The rupee closed marginally stronger on Friday at 46.87/88 per dollar, as compared to Thursday's close of 46.90/91.

The domestic currency opened higher at 46.8350/8450, but touched an intra-day low of 46.91 following State-run banks mopping up surplus dollar from the system, according to dealers. One forex dealer said the market witnessed good dollar supplies which were compounded by some export cancellations. The rupee swung back to 46.81 levels, riding high on the abundance of greenbacks.
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