Technical Charts – GAIL / Oswal Chemicals
07-DEC-10 19:20:57
Unitech-07-Dec-2010
Line of HOPE
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Heard on the Street: Hexaware, UFlex
Hexaware gains 14% as FIIs lap up shares
Shares of Hexaware Technologies surged 14% to Rs 100.10, sup-ported by 29 times its 2-week average traded volumes. The buzz is that foreign institutional investor “Kala Patthar” bought a sizeable chunk of the stock. Brokers said institutional investors have been ac-cumulating shares of mid-sized software companies over the past few trading sessions. The company’s second quarter results exceeded Street expectations, with revenues expanding 20% to Rs 112.39 crore.
Institutions reduce exposure to UFlex
Institutional investors trimmed exposure to shares of packaging firm UFlex on Tuesday, after the CBI special court sentenced its CMD Ashok Chaturvedi to a four-year imprisonment in connection with the Noida land scam. The stock was frozen at a lower circuit of 20% at Rs 194.95. Dealers said “Ellora” Capital and a domestic broking firm founded by a former BSE president were heavy sellers in the stock. Both firms had a “buy” recommendation on the stock. The stock has rallied after its September quarter results exceeded market expectations. The net profit for the company more than trebled to Rs 79.29 crore while revenues rose by 16% to Rs 568.10 crore, according to the company’s filing on the BSE. However, in the past few weeks, investors have booked profits on worries about the rise in Chinese imports.
Hexaware gains 14% as FIIs lap up shares
Shares of Hexaware Technologies surged 14% to Rs 100.10, sup-ported by 29 times its 2-week average traded volumes. The buzz is that foreign institutional investor “Kala Patthar” bought a sizeable chunk of the stock. Brokers said institutional investors have been ac-cumulating shares of mid-sized software companies over the past few trading sessions. The company’s second quarter results exceeded Street expectations, with revenues expanding 20% to Rs 112.39 crore.
Institutions reduce exposure to UFlex
Institutional investors trimmed exposure to shares of packaging firm UFlex on Tuesday, after the CBI special court sentenced its CMD Ashok Chaturvedi to a four-year imprisonment in connection with the Noida land scam. The stock was frozen at a lower circuit of 20% at Rs 194.95. Dealers said “Ellora” Capital and a domestic broking firm founded by a former BSE president were heavy sellers in the stock. Both firms had a “buy” recommendation on the stock. The stock has rallied after its September quarter results exceeded market expectations. The net profit for the company more than trebled to Rs 79.29 crore while revenues rose by 16% to Rs 568.10 crore, according to the company’s filing on the BSE. However, in the past few weeks, investors have booked profits on worries about the rise in Chinese imports.
Shares of Hexaware Technologies surged 14% to Rs 100.10, sup-ported by 29 times its 2-week average traded volumes. The buzz is that foreign institutional investor “Kala Patthar” bought a sizeable chunk of the stock. Brokers said institutional investors have been ac-cumulating shares of mid-sized software companies over the past few trading sessions. The company’s second quarter results exceeded Street expectations, with revenues expanding 20% to Rs 112.39 crore.
Institutions reduce exposure to UFlex
Institutional investors trimmed exposure to shares of packaging firm UFlex on Tuesday, after the CBI special court sentenced its CMD Ashok Chaturvedi to a four-year imprisonment in connection with the Noida land scam. The stock was frozen at a lower circuit of 20% at Rs 194.95. Dealers said “Ellora” Capital and a domestic broking firm founded by a former BSE president were heavy sellers in the stock. Both firms had a “buy” recommendation on the stock. The stock has rallied after its September quarter results exceeded market expectations. The net profit for the company more than trebled to Rs 79.29 crore while revenues rose by 16% to Rs 568.10 crore, according to the company’s filing on the BSE. However, in the past few weeks, investors have booked profits on worries about the rise in Chinese imports.
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