There seems to be no respite for the Zee Telefilms from the spate of negative publicity that has been rocking the counter. The latest is the earnings downgrade from the Numero Uno brokerage. Reasons include scaling down of the company's expansion plan, mainly in case of Siticable. This apart, the brokerage also feels the company may not be able to divest its stake in siticable in the near future, as it is unable to dictate the price. This apart, Kind Words Benson too is reported to have come out with a sell call on the stock. Benson's clients seem to have taken the call a little too seriously, dumping a little over 2.5 million shares through the same firm.Savvy in exit mode
After being active on the buy side last week, the Savvy Fund Manager seems to have decided to lighten his portfolio a little bit. He was reported to have been one of the prominent sellers at the HLL counter on Monday, where close to 500,000 shares were dumped today. Participatory note participants at the MTNL counter now are moving out of the stock, having made a neat packet over the last couple of months. Joing Co-Tech Securities in putting a sell call on the stock is Kind Words Benson.
Tug of war
A fierce tug war seems to be on at the Infosys Technologies counter with the analyst community clearly divided in its opinion. After the Swiss Bank downgraded earnings estimates for the company, Infosys has found support in Golden Socks broking arm which has upgraded the stock. It could not be confirmed if the fund was among the prominent buyers at the counter today. Close to 2 lakh shares are reported to have been picked up at the counter with Numero Uno brokerage and Uncle Jam being among the prominent executors. Meanwhile, close to 1.5 million shares of Satyam Computer are reported to have been picked up by a slew of funds which includes names like Singapoori Sarkar, Jordan Flaming AMC and Merreel, besides other smaller names. The Upcoming Operators too is reported to have added about 4 lakh shares to his kitty today. But a many of his trade partners seem to be in the sell mode at the counter. Which is why the scrip is really struggling to inch up despite the aggressive buying spree.
Trivia
The Swiss Bank is reported to have dumped close to 3 lakh shares of Global Telesystems and about 1.2 lakh shares of HFCL, while picking up close to 1.5 lakh shares of SSI. Uncle Sam and Singapoori are reported to be among the most active buyers at the HDFC Bank counter, which has suddenly come to life after the announcement of the quarterly numbers. A little over 2 lakh shares are reported to have been picked up at the counter today. Mr Solo Smith is reported to have been a buyer at the Sterlite Optical counters to the tune of around a lakh shares while Great Masters Orchestra(GMO) and the Scudder Funds are regular buyers at the BPCL and HPCL counters respectively. On Friday nearly half a million shares of HPCL shares were reported to have been picked up. Tumble Ton is reported to be steadily accumulating Colgate in chunks of 40,000 to 50,000 shares.
Change of pace
With a change of guard at Uncle Sam Asset Management, one could get to see some fireworks over the next few trading sessions, as the successor will try to lend his characteristic flavour to the portfolio.
Santosh Nair
email:santoshnair@myiris.com
Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
