Heard on Street: Tumbleton proves lucky for Sintex Industries
Shares of Sintex Industries surged 5.5% to Rs 179.60 on Thursday, with volumes almost double its 2-week average.
By ET Bureau |
Tumbleton proves lucky for Sintex Industries
Shares of Sintex Industries surged 5.5% to Rs 179.60 in a lacklustre market on Thursday, with volumes almost double its 2-week average. According to dealers, “Tumbleton” was a buyer in the stock on Thursday.
The stock had fallen over 14% in the week to Wednesday led by selling by institutional investors. The rumour is “Credit Lines” was a seller in the stock on Wednesday. Analysts tracking the company are optimistic about the company’s recent acquisition, the New Delhi-based Durha Constructions, which has an order book of around Rs 750 crore.
Valuations weighing on metal stocks
Institutional investors were sellers in shares of metal companies on Thursday. The buzz is that Big Daddy of the domestic insurance industry trimmed exposure to shares of some metal companies on Thursday. The BSE's Metal index fell 167 points or 1% to 17,041 on Thursday. Analysts are pessimistic about the prospects of metal stocks in the short term, as valuations are pricey. Also, these stocks are expected to see sharp movements if the benchmark indices turn volatile.
Contributed by Harish Rao and Nishanth Vasudevan
Shares of Sintex Industries surged 5.5% to Rs 179.60 in a lacklustre market on Thursday, with volumes almost double its 2-week average. According to dealers, “Tumbleton” was a buyer in the stock on Thursday.
The stock had fallen over 14% in the week to Wednesday led by selling by institutional investors. The rumour is “Credit Lines” was a seller in the stock on Wednesday. Analysts tracking the company are optimistic about the company’s recent acquisition, the New Delhi-based Durha Constructions, which has an order book of around Rs 750 crore.
Valuations weighing on metal stocks
Institutional investors were sellers in shares of metal companies on Thursday. The buzz is that Big Daddy of the domestic insurance industry trimmed exposure to shares of some metal companies on Thursday. The BSE's Metal index fell 167 points or 1% to 17,041 on Thursday. Analysts are pessimistic about the prospects of metal stocks in the short term, as valuations are pricey. Also, these stocks are expected to see sharp movements if the benchmark indices turn volatile.
Contributed by Harish Rao and Nishanth Vasudevan
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