Wednesday, November 2, 2011

'R' STOCKS ALL THE WAY

NIFTY closed flat, amid euro zone fears. All 'R' stocks in the NIFTY were active and closed in the green. Rcom, Rel infra, R power, Reliance and Ranbaxy were up in otherwise subdued market. The trading volume too was better than yesterday. IT stocks - Infy and TCS too closed in the red. Wipro was marginally up. Other than SBI, other bank stocks - Axis, ICICI, Kotak and PNB closed in the negative. HUL continue to rule firm and closed at Rs 389, after touching 52 week high of Rs 393. Tata Motors had the highest trading volume at 23 millions.

The poor quality IPO - Indo Thai Securities listed today. As against the issue price of Rs 74, the stock closed at Rs 22.40. While analyzing the IPO First Choice had indicated that the fair value of the stock is Rs 20.

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