Bhel Grounded On Peregrine Buzz

Bourses were abuzz with rumours yesterday that Peregrine Securities(India) was trying to offload a significant quantity of their holdings in the BHEL stock. There were unconfirmed reports that Peregrine was unsuccessful in placing the shares through negotiated deals and hence was trying to sell the shares.

The rumours sparked off offloading of BHEL shares with the scrip shedding about Rs 25 on the BSE and NSE. On the BSE, it closed at Rs 290 with 7.69 lakh shares changing hands, it ended on the NSE at Rs 289.45 with 11.7 lakh shares being traded.

The Indian Hotels scrip saw sharp fluctuations during intra day trading. Marketmen said a broker had placed a hit-sell order at the counter on behalf of a foreign fund. There was a price differential of Rs 21 between the two exchanges.

On the BSE, Indian Hotels opened at Rs 583, edged up to a high of Rs 586.25, fell to the days low of Rs 530, also a new 52 week low.. It finally closed at Rs 549, down Rs 33 over the previous close. The scrip fell to a new 52 week low of Rs 550 before edging up to Rs 570.10 at close, a loss of Rs 24 on the NSE.

Propelled by gossip about a bonus, the Castrol scrip posted significant gains at major bourses in a falling market. On the BSE, the scrip closed at Rs 697.50, a gain of Rs 20 over the previous close. It gained Rs 16.45 to close at Rs 692.90 on the NSE.

Arvind Mills, Telco, MTNL, Indian Hotels and SAIL were among the index stocks which touched new 52 week lows on both exchanges. In the B group, Kodak India and Kotak Mahindra were the notable stocks which hit new 52 week lows. The Goodlass Nerolac scrip fell to a new 52 week low of Rs 126 during intra day trading, but closed at Rs 148.50, up Rs 13.50 over the previous close.

The Hoechst Marrion scrip moved up on low volumes, closing at Rs 328.75 on the BSE, up Rs 23 over the previous close. The MTNL scrip witnessed massive volumes at the bourses yesterday with 25.65 lakh shares being traded on the BSE and 36.53 lakh shares being traded on the NSE. GNFC continued to witness significant trading interest with 1.42 lakh shares being traded on the BSE.