Corporate Results of over 2500 companies Saturday, October 9, 1999
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Think Tank
This week we focus on a complete analysis of the
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Floating Stock 

 
Reliance hammered as markets celebrate 5,000

Amidst the 5000-mark celebrations, the Reliance scrip was hammered on the bourses. On the BSE, the Reliance scrip closed at the lower circuit level of Rs 240.85 and the turonver in the counter was at Rs 216 crore from 88.41 lakh shares. According to brokers, Capital International was a major seller in the counter. Some small chunks of the scrip was reported to have been sold by some other FIIs also. On the NSE, with a net loss of Rs 7, the scrip closed at Rs 241.95.

Aptech

The Aptech scrip closed at the circuit level of Rs 1,100 on the BSE. According to market sources, two factors have combined to take the stock to higher levels. Marketmen are expecting a bonus announcement from the company during the next couple of days. Also, the company is understood to be in the final stages of acquiring a software company in the US. On Friday, total turnover in the Aptech counter on BSE was at Rs crore from 1.18 lakh shares.

Ranbaxy

FII interest is believed to have re-surfaced in the Ranbaxy counter. On Friday, the combined volume of the two bourses in this scrip was close to 75 lakh shares - 40 lakh shares on the NSE and around 35 lakh on the BSE, despite it being the last day of current settlement on the latter exchange.

According to one market analyst, unless there is any definite positive news, operators, burdened by high margins and also the additional carry forward margins if they want to carry forward the position, don't buy on the last day of the settlement. Whereas, the case is not the same for the FIIs, whose trades are results into delivery. While on the BSE the Ranbaxy scrip closed at the circuit level of Rs 1157, on the NSE the scrip closed at Rs 1165.

NIIT

The rumours about Shiv Nadar selling some of his stake in NIIT to IBM re-surfaced on the bourses again on Friday. This resulted into the scrip gaining Rs 234 on both the exchanges, the closings being Rs 3164 on the BSE and Rs 3166.7 on the NSE.

The market raised its hopes of a higher inflow of FII inflows on Friday, based on the Rs 172 crore net inflow on Thursday, the day when the Sensex shot up 265 points. Friday's inflows could be around Rs 150-200 crore, say some brokers.

Partha Pratim Sinha

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