Call alert
Well, the story at the MTNL counter seems to be far from over, if the stock prices are any indication. The Golden Socks Fund is reported to be among the prominent buyers as far as foreign funds are concerned. Among locals, the Prudent Fund is reported to have added about 1.5 million shares over the last couple of trading sessions. In the GDR market too, the scrip has been evoking good interest over the last couple of trading sessions. Expectations are running high regarding the list of ADRs on the NYSE.

Foreign investors have taken a more positive view on the stock in the past, as compared with their local counterparts. After the listing on Wall Street, perhaps foreign investors will be able to get investors (in India) to share their point of view.

On fire
The finance minister's commitment to petro sector reforms is being taken seriously, at least the stock prices are showing that. On Thursday, close to over half a million shares of HPCL were reported to have been picked up by a clutch of investors whose identities are yet to be confirmed.

Interestingly, one of the bidders for the stock on Thursday was none other than Big Daddy, one of the largest holders of the stock. It could not be confirmed whether Daddy did manage to procure the desired quantity. If the big investors at the counter are looking to add more shares, there could be some strong reason behind that.

After the short break...
A fresh wave of buying interest helped revive sentiment at the Zee Telefilms counter, besides aiding benchmark indices to close on a steady note. Close to two million shares are reported to have been picked up at lower levels with Cross Bee reported to be among the prominent buyers.

The identity of the fund however is yet to be confirmed. As expected, the company's third-quarter numbers were far from inspiring. In a market that has not been lenient to even the best of performers, it would be interesting to watch the market reaction when trading restarts after the extended weekend. And it is unlikely to be a knee-jerk one as most players have enough time to pore over the fine print.

Trivia
Small Daddy is reported to have been a buyer at the Bajaj Auto counter to the tune of a little over a lakh of shares. However, an off-shore fund is reported to have dumped close to about two lakh shares, causing the prices to crack. Despite the Mereel Fund's purchases at the NIIT counter on Wednesday, prices continued to lose ground for the second consecutive trading session. The Castrol scrip slid sharply on the back of volumes, indicating institutional selling pressure at the counter. Well, the prices are still at a discount to the open offer price of Rs 312 announced by BP Amoco and Castrol Plc for a 20 per cent stake in the company.

Santosh Nairsantoshnair@myiris.com