Financial Daily from THE HINDU group of publications
Friday, Feb 25, 2005
Financial Daily from THE HINDU group of publications Friday, Feb 25, 2005 |
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Markets
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Stock Markets Columns - Ear to the ground FIIs may knock the door loudly!
The market participants are expecting further spurt in foreign institutional investors' inflow into India with the spate of conferences being organised by international broking houses for their clients. Deutsche Securities has flown in over 100 of their clients from Europe and the US to familiarise them with India and Indian corporates and markets. The four-day session had Mr Mukesh Ambani, Chairman, Reliance Industries, making the first presentation. This was followed by several companies including ICICI Bank and various pharmaceutical majors convincing the new FIIs to invest in them. Earlier, DSP Merrill Lynch had also organised a similar meeting. Market participants say that increased FII activity would be tangible in the Indian bourses as soon as the effects of the announcement of Union Budget are over. Liquidity in the market is expected to increase with these new FIIs' investments.
`Buy' call keeps them healthy
THE stocks of multinational pharmaceutical companies - Aventis and GlaxoSmithKline Pharmaceuticals - have been hot picks this week by institutional investors. A large broking house has also published a research report on these companies and rated them as `buys'. Aventis is termed as the best pick in the report. It expects the company's revenues and earnings to post growth rates of 11 per cent and 26 per cent respectively. Margins are also expected to grow and be robust. Shares of Aventis touched an intra-day high of Rs 1,292. The stock gained Rs 31.60 on the BSE to close at Rs 1,276.10. Volumes have also been fairly good with a net turnover of over Rs 18 lakhs on the BSE. On the NSE, the stock closed at Rs 1,283.40. GlaxoSmithKline Pharmaceuticals gained about Rs 12 to close at Rs. 757.25 on the BSE.
Veena Venugopal
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