Nicholas Piramal, Ongc Firm Up On Fii Buying

Foreign institutional investors (FIIs) seem to have shifted their focus from Sensex stocks to key B group shares like Nicholas Piramal and ONGC.

While the Nicholas Piramal scrip witnessed a single deal of 4,32,000 on the National Stock Exchange (NSE), the ONGC stock has seen trading in a whopping 1,71,000 shares on the Bombay Stock Exchange (BSE) and 2,83,000 shares on the NSE.

The price of the former has risen by about 7 per cent over the past few trading, the latter has gained a massive 20 per cent.

Brokers said the trading activity assumes significance as they are considered to be fairly illiquid stocks.

 

The Nicholas Piramal stock has risen from Rs 150.75 a week back to Rs 161.50 yesterday on the BSE while it has risen from Rs 152 to Rs 161.90 on the NSE.

The ONGC share has gone up from Rs 219.25 a week back to Rs 265.50 yesterday on the BSE, while it rose from Rs 220.65 to Rs 261.75 yesterday on the NSE.

If you observe the trading pattern of these stocks, business is restricted to a few thousand shares.

However, FIIs have shown a renewed interest in these stocks. The investment is not speculative in ONGC, said a dealer at a leading institutional brokerage:

Officials at Nicholas Piramal said that the company has not made any specific announcements and has nothing to do with the trading pattern.

The promoters hold about 50 per cent of the company's stock. Deals could take place amongst the domestic institutions and FIIs who own about 25 per cent of the company's stock, a source said. BSE NSE

Date Price Shares Price Shares

traded traded

April 17 150.75 (1335) 152 (500)

April 21 154 (1045) 150.75 (100)

April 22 159 (155,000) 156.65 (6200)

April 23 161 (802) 158.95 (400)

April 24 161.50 (657) 161.90 (433,000)

All prices in Rs

BSE NSE

Date Price Shares Price Shares

traded traded

April 17 219.25 (3850) 220.05 (13,900)

April 21 226 (5616) 224.95 (20,800)

April 22 240.75 (22,150) 240.25 (48,200)

April 23 245.50 (17,476) 246.70 (74,300)

April 24 265.50 (171,000) 261.75 (283,000)

All prices in Rs