Trading at the Over the Counter Exchange Board of India (OTCEI) was a lively affair this week as several dormant stocks got a whiff of life. The composite index closed the week at 85.14 points up 2.43 points from the week's open of 82.71. Trading volumes were also relatively stronger than usual.Dealers said that the maximum activity was witnessed in stocks like IIS Infotech which has been a favourite for the past couple of weeks, Central Cables, Magnum Intermediaries, Aurangabad Asbestos and Galaxy Oleo-Chem. IIS Infotech continues to be fancied by investors as most software companies are being considered good buys. Rumours of its delisting application being okayed nearly a year after its submission continued to buzz in the market. Most of these companies have become favourites on account of the good results registered.

Dealers said that Magnum Intermediaries has announced a bonus in the ratio of 1:1 and a rights issue (postbonus) in the 1:1 ratio. With this its capital will be expanding nearly four times and this is said to be enough to make it eligible for delisting from the exchange. Dealers feel that Aurangabad Asbestos which has also recorded good results is likely to consider delisting by taking the merger route with group companies listed on other exchanges. IIS Infotech is being traded at the Rs 37 levels, Central Cable at the Rs 52 levels, Magnum Intermediaries at the Rs 25 levels and Galaxy Oleo-chem at the Rs 23 levels.

In the debenture segment, there was a new listing of BPL debenture series which was quite a favourite in the immediate days after the listing. Birla Global debenture series continued to be in the limelight, but there is not much retailing in this segment. Sterlite debentures were also quite well traded.

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