Strong fund buying benefits Voltas scrip
Kolkata: The Voltas stock saw a smart upward price movement on Tuesday with surge in trading volume on the major bourses, says a report. According to dealers, strong buying by funds was the reason for upward price movement. Couple of FIIs are reportedly picking up the stock. On the BSE, the counter, after touching a 52-week peak at Rs 123, closed at Rs 118.40 (Rs 111.90) with a volume of 2.44 lakh (31,469) shares. There were two block deals in the counter on the BSE, both struck at 2.55 p.m. at Rs 122 each - one involving 76,600 shares and the other 68,700 shares.

On the NSE, the counter finished with a traded quantity of 1.23 lakh shares (40,534 shares). Some 54 per cent of the traded quantity was presented for delivery on the NSE. On Tuesday's closing price, the stock traded at 15.2 times its 2002-03 earning per share. "However, according to the projected earning per share for 2003-04 of Rs 14.50 per share, the stock finished with a P/E multiple of 8.1.
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SDG Soft system for Philippines SEC
Hyderabad: SDG Software, a technology solutions provider for the financial marketplace and stock exchanges, has deployed a market surveillance system for the Securities and Exchange Commission (SEC) of the Philippines to handle risk management, says a report. The managing director of SDG Software, Suheim Sheik, told that the SEC, Philippines in order to establish a transparent system, has deployed the surveillance and risk management software.

Asian Development Bank has supported the cost of the software licence and the use of the necessary servers as a part of its technical assistance programme aimed at strengthening the SEC's market regulation capability. With AWACS, Sheik said a user could monitor positions of significant size, identify deviations from the normal market behaviour resulting in alerts, which are investigated using an alert management system.
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Rupee a bit higher
Mumbai: The rupee closed at Rs 45.33/34 against the dollar on Tuesday, just two paise higher than Monday's closing levels. Dollar supplies were seen to be less with little FII money coming in. The rupee opened the day at Rs 45.3300/3350 touched an intra-day high of Rs 45.28 and a low of Rs 45.35 against the dollar.
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