ICE in limelight: Most of the front-line technology counters were in the thick of action yesterday. Leading the pack was Satyam Computers and Wipro which closed substantially higher. About one million shares of Satyam were picked up by Numero Uno brokerage for one of its clients in the previous trading session. Satyam is also turning out to be a favoured stock for some other brokerages with Co-Tech Securities and the Dutch brokerage picking up some quantities for its clients.
Wipro was another stock which was in the limelight with Numero Uno picking up about 50,000 shares for its client. Another lakh shares or so was also picked up by some institutional player but the identity could not be confirmed. One Man Army is also rumoured to be buying into the stock since he finds the stock extremely attractive at current valuations.
Zee takes a breather: The Zee Telefilms counter finally took a breather after a long time. But the action seems far from over. Could it be a lull before the storm? With One Man and his counters you can never be too sure.
A healthy dose: Dr. Reddy's Laboratories' stock is again turning out to be a good pick for some institutional players. About a lakh shares were bought by Jordan Flaming brokerage in the previous trading session and about 50,000 shares more yesterday were picked up by another prominent fund.
Raymonds in action: The Raymonds stock showed brisk activity and was frozen at the upper end of the circuit filter with talk about the sale of its cement plant doing the rounds. This is another stock where rumours about sale of its businesses arise from time to time. However, this did not stop Jordan Flaming brokerage from purchasing three lakh shares for one of its institutional clients.
Out of favour: An institutional stock to be dumped by institutional investors was ICICI Ltd. The stock, which is considered by many as one of the best players in the Indian financial scene, saw a strong bout of selling yesterday. A million shares of the company was dumped by the Numero Uno brokerage. What triggered the sale is unclear at this point in time but there were other brokerages which joined the bandwagon. King Kong brokerage disposed of three lakh shares of the term-lending institution.
New deals: Hindustan Lever saw a buy order of half a million shares executed by Numero Uno brokerage, while about four lakh shares of ITC were bought between Co-tech Securities and Peace Brokerage. About 75,000 shares of Software Solutions was picked up between Cross Bee and Dutch Brokerage. Also one lakh shares of Ranbaxy were purchased by Co- Tech brokerage.
Prime time: Prime brokerage, one of the stars of the capital market during the early part of this decade, has been in the thick of action this week. While most stocks in the telecom sector were quoting at relatively high valuations Shyam Telecom was languishing at lower levels. Prime brokerage has being selling the story in this counter for some time now and the same has got reflected in the form of buy orders this week. The scrip has had a substantial bull run this week, appreciating more than 50 per cent in less than a fortnight.
