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Second-rung stocks hit upper band

K.S. Badri Narayanan

TUESDAY's rally seemed to be more broad as select second-rung stocks have also enjoyed the rally. The rise is so sharp, most of these stocks closed near the upper ceiling level. The following are a few such stocks.

Shyam Telecom: The stock finished at the upper ceiling level of 20 per cent at Rs 35.10 against Monday's close of Rs 29.25. Trading volumes have also zoomed to 4,57,456 shares (1,21,682 shares). This was despite the company posting a 76.68-per cent drop in Q2 net profit for the period ended September 30, 2001. (The result was declared on October 30). The stock's 52-week high/low are at Rs 299/Rs 23.25 respectively.

Lupin Ltd: The stock ended on strong note at Rs 76.10 (Rs 70.50). Trading volumes in the counter witnessed a sharp rise as 6,16,864 shares changed hands as against Monday's volumes of 1,27,993 shares. The stock's 52-week high/low are at Rs 258.50/Rs 61.2 5. On October 26, Lupin had inauguarated a new research park near Pune.

Shasun Chemicals: The pharma company also closed on a the firm note at Rs 48.20 (Rs 44.65), a gain of 7.95 per cent. Trading volumes have also more than doubled to 11,325 shares (4,486 shares). Shasun has recorded a 52-week high of Rs 97 and a low of Rs 29.15. The company also reported a fall in net profit for the second quarter ended September 30, 2001 at Rs 2.73 crore (Rs 3.38 crore). (The result was announced on October 30).

CEAT: The tyre manufacturer closed at Rs 17.65 (Rs 16.35), gaining 7.95 per cent over the previous close. The stock also witnessed a heightened activity as 28,369 shares (7,363 shares) changed hands. It's 52-week high/low are Rs 42.30 and Rs 14.80.

Ucal Fuel: This stock was also in the limelight. It closed at Rs 50.75 (Rs 47) accompanied by trading volumes of 10,982 shares (1,477 shares). The stock's 52-week high/low are Rs 55.40/Rs 36.

Avery India: The stock ended on a firm note at Rs 13.70 (Rs 12.70). Trading volumes witnessed an hundred-fold increase at 1,58,950 shares (1,230 shares). The stock hit a 52-week high of Rs 23.70 and a low of Rs 11.