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Drumbeat: Ad Buzzaar
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Saturday, May 30, 1998
Rally percolates to small IT stocks
During the last two weeks on the Bombay Stock Exchange (BSE), some small-cap infotech scrips have appreciated by as much as 500 per cent. All these scrips belong to the B2 segment of the BSE and were trading below their par values since as long back as December 1995. The rise in volumes traded in these scrips is also phenomenal. These companies have low equity base and a number of these companies have also reported loss during the last fiscal and also all have low EPS and book value figures.Innovation Software, with a gain close to 500 per cent is the top gainer. The scrip has gone up from Rs 3.75 to Rs 22.45. Twinstar Softawre at Rs 28.85 (up 235 per cent), Datapro International at Rs 8.25 (up 230 per cent), CG-Vak Software at Rs 26.70 (up 226 per cent) and ICNET Ltd at Rs 6 (up 224 per cent) are the other promonient gainers. The other gainers are Sanra Computers at Rs 12.30 (up 193 per cent), Adam Comsoft at Rs 16.10 (up 152 per cent), Abacus Computers at Rs 10 (up 150 per cent). Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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