Financial Daily from THE HINDU group of publications
Saturday, Mar 23, 2002
Financial Daily from THE HINDU group of publications Saturday, Mar 23, 2002 |
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Markets
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Stock Markets Macmillan surges on profit expectations Jayanta Mallick
KOLKATA, March 22 THE counter of Macmillan India, the company that publishes educational books, has been very active on both the BSE and the NSE of late. According to marketmen, the stock appears to be going through a revaluation process. Macmillan today closed at Rs 299 on the BSE and at Rs 295 on the NSE, down by around 7.5 per cent from Thursday's closing prices. It attracted combined volumes of around 5.6 lakh shares on the two bourses. On Thursday, more than a total of 9.6 lakh shares had changed hands on these exchanges. Interestingly, between March 15 and March 20 the scrip had a combined daily volumes of around 65,000 shares and in February, the average total volume per day in BSE and NSE was less than 1,500 shares. Today, the scrip fluctuated between Rs 332 and Rs 295. Incidentally, the 52-week high of the scrip stands at Rs 349 and the low at Rs 190. The current flare-up began from the level of Rs 220 since March 12. The positive outlook, according to market players, could be attributed to the expectations of improvement in the bottomline in the current financial year. The company has recently added an e-enabled educational service to its repertoire. It has introduced dissemination of scientific and mathematical educational materials through its subscription-based Web site. Last June, Macmillan had launched Success.emacmillan.com, a Web site providing on-line coaching mainly for engineering and medical entrance examinees. The site provides study material and coaching to students for IIT-JEE, CET, CBSE-PMT and other equivalent entrance tests. The site offers online courses, and is part of a series of e-business initiatives undertaken by the e-business division of Macmillan. At an analysts' meet on Thursday, the company management indicated that the revenue prospects would improve significantly due to the e-initiatives.
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