Himachal Futuristic, Gtl Log Big Volumes

Himachal Futuristic Communications (HFCL) and GTL (Global Tele-Systems) have been attracting large volumes on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) in the past one month.

On the back of hefty trading, the HFCL share has risen by 100 per cent since October 1, 2001, while the GTL scrip has gained 66 per cent.

Sources attribute the spurt in volume in HFCL and GTL to value buying by 'One Man Army', the market moniker of a leading bull.

HFCL was hovering around Rs 30 in the first week of October with aggregate daily volume of 13 lakh shares.

Operators and investors began to accumulate the share when HFCL bought Hindustan Teleprinters Ltd from the government in the first week of October.

The average daily volume then rose five-fold to 65 lakh shares in the second week of October. The share price moved up from Rs 30 to Rs 40 in a week.

Daily volumes in HFCL kept rocketing and touched around one crore shares by the third week of October, while the stock price touched Rs 52.

By now, news of One Man Army's entry into HFCL spread among players and the daily volumes took off afresh to 1.36 crore shares. The scrip price also continued its upward spiral, touching Rs 60.

There was a marginal correction in the fourth week of October with daily volumes declining to 73 lakh shares.

In the current week, the daily volumes have rebounded again, and at present averages 1.25 crore. The share price has moved from Rs 52.15 on October 31 to Rs 61.90 today.

Meanwhile, daily volumes in GTL rose five-fold from 15 lakh shares in the first week of October to 57.90 lakh in the second week.

The price, too, moved up from Rs 53.90 to 63.90. The volumes kept ascending and reached 93.52 lakh shares in the third week of October, and further to 111.57 lakh shares in the fourth week. The price moved up from Rs 63.90 to Rs 80.35 in the period.

Profit-taking then brought the volume down to 49.08 lakh shares by October end. In the current week, GTL is back in the limelight with daily volume of 117.36 lakh and price moving up from Rs 74.15 a week back to Rs 89.60.