DSQ Software
The stock hit the lower circuit in spite of news that the company had got a stay order from the courts. It seems a major operator moved out of the stock, which led to its sharp fall. "The stock might revive from current levels as the company is in talks with some FIIs anddomestic institutions for a private placement of the stock, as the earlier attempt to privately place equity with a private equity fund got aborted. The price negotiations are on and when this deal gets executed, the scrip will witness a re-rating," said a fund manager.

Cross deals
Enam Securities did a major cross deal of around 1 crore units of Morgan Stanley at a price of Rs 7.10. A cross deal of 1 lakh shares of Telco was done by Dhanki Securities at Rs 153.85 and the buyer was reportedly Tata Sons. "Tata Sons has been acquiring a lot of Tata group shares," says a market observer. Khandwala Securities is reported to have done a deal of 12,000 shares of Dabur, while Morgan Broking is reported to have done a cross deal of 50,000 shares of BSES. Jardine Fleming did a cross deal of 65,000 shares of L&T while HSBC broking is reported to have done a deal for 50,000 shares of Hindustan Petroleum.

Sun Pharma
Sun Pharma has been witnessing hectic activity in the last few trading sessionswith volumes touching a huge 1.79 lakh shares on March 26 from an average 40,000 shares. One of the most fancied domestic counters in the recent rally, the stock has spurted by a huge 56.38 per cent from the low of Rs 317 on March 19 to a high of Rs 495.75 on April 7. "As the MNC stocks look overvalued, the continuing fancy for the sector has led to a shift in focus to domestic counters. The focus on the niche segment and the ability to provide an entire basket of products in therapeutic group with a slew of new products lined up with a new product launch strategy [as many as nine products are slated for the current year], strategic acquisitions will drive Sun Pharma domestic growth [estimated at 23 per cent during '98-99], while the export growth will boost the bottomline. With an expected CAGR of 25 per cent in the next two-three years, the company is witnessing a lot of buying interest," said a broker.

Godfrey Philips
The stock had been touching highs on news that Philips Morris might pick up astake in the company. But as the acquisition is unlikely, the stock has moved down in the last few trading sessions to touch Rs 685. "The stock was expected to have a tremendous upside if Philips Morris (PM) had acquired the KK Modi stake and on these expectations the stock rose from Rs 215 a year back to Rs 830 levels. Despite the management showing a good y-o-y performance, concerns over management control remains on the mind of the investor. Now, the denial might even strain the relations between the two. This will further de-rate the stock," said a broker.