Alok Industries gains on good business model
Mumbai: A good business model and sound fundamentals have seen the stock of Alok Industries gain ground steadily on the markets in the recent past. Brokers said of late FII interest has been on the rise at this counter. The stock has appreciated by almost 62 per cent from around Rs 37 level on October 17, 2003 to its current market price of Rs 60.

The stock ended the day at Rs 59.80, up 3.46 per cent, with around 1.2 lakh shares traded on the BSE. On the NSE, the stock ended the day at Rs 60.15, up 3.62 per cent, with around 3.19 lakh shares traded.
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Shipping stocks benefit due to freight rate trends
Kolkata: Stocks of shipping companies have benefited as positives were factored in. According to experts, latest rising trend in the freight rates, for both dry-bulk carriers as also tankers, has provided additional fuel for the stocks to steam ahead. Among the listed domestic shipping stocks, SCI saw a jump of around Rs 17 (9.3 per cent) with more than five fold increase in trading volume. The GE Shipping, Essar Shipping and Varun Shipping stocks also buoyed up in varying degrees on active buying support, says a report.

While the Essar Shipping counter gained by 12.7 per cent, GE Shipping was up by 2.9 per cent, Varun Shipping improved by 9.3 per cent and Mercator posted a gain of 5 per cent. According to Mr Gaurav Dua of Anagram Stock broking, better results expectation, prospects of capacity expansion and possibility of introduction of tonnage tax are serving as triggers for the further upward revaluation of the shipping stocks.
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Forwards move up
Mumbai: The rupee on Wednesday closed three paise weaker at 45.43/44 in its value against the dollar against Tuesday's close of 45.40/41. The domestic currency opened at 45.40/41, touched an intra-day high of 45.3850 and closed at the intra-day low of 45.53/44.
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