| Metro fund is known to have a keen eye for little-known stocks. The latest one to get its attention is Kalindee Rail Nirman Engineers. Metro is said to have picked up the shares at Rs 166.75.
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| Kalindee Rail, a profit-making public limited company, implements railway projects on turnkey basis in the field of signalling, telecommunications, gauge conversion, laying new railway lines etc. Now here is a clue, why Metro is showing such an interest in the stock.
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| Apparently, Kalindee Rail Nirman has entered into a joint venture with Malaysian company, Sithru, to bid for a $150 million railway project from Chachoengsao to Laem Chabang in Thailand. The stock has seen a 30 per cent appreciation in the past month alone.
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Logistics logic
Logistics stock Gateway Distriparks continues to attract buying interest. While foreign interest in the fund is not really a new phenomenon, of late the action seems to be hotting up at the counter.
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| Curls On Fund is the latest to get into the stock, buying more than five lakh shares at Rs 181.71. All this buying had its desired impact on the stock with the price moving up to a 52-week high of Rs 191.45 earlier in the day.
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| The appreciation in price should certainly keep Feeder fund happy, who had bought some five lakh shares at Rs 164 levels a month ago.
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A developing story
Metro’s other pick was residential housing colony developer DS Kulkarni Developers, where it bought nearly a lakh of shares at Rs 123.
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| Foreign funds have taken note of the stock only during the first quarter of FY06 and currently hold 4.85 per cent stake in the company. The buying interest had the stock soaring to its 52-week high of Rs 132 yesterday.
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Getting the boot
Disadvantage Fund has decided to get rid of its holding in Pritish Nandy Communications (PNC) at Rs 70.20. With several of the movies that the company is associated with, failing to click at the box office, the fund obviously sees no advantage in holding on the stock. The stock has not set the bourses on fire either, with the price moving down from Rs 81 exactly a year back.
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In other news.
Castro Fund has bought 4.5 lakh shares of Geodesic Info Systems at Rs 311 levels, while an emerging fund was a buyer at Lyka Labs at Rs 73.
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| The interest in banking counters was kept alive by Stern Bear Fund which bought more than 10 lakh shares of Karnataka Bank at Rs 134 levels. Big Hammer Fund, Jeweller Fund were the other foreigners to visit the Karnataka Bank counter recently. |
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