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THE stock of ONGC has been witnessing a steady rise in the last few days. Dealers say, at the current levels, ONGC scrip attracted market attention on value-buying.

The stock has been in the spotlight for sometime now due to the disinvestment plans of the Government. It is expected to bid for two other public sector units, HPCL and BPCL,when they come up for disinvestment. Besides, the Government's decision to dismantle the APM (administered price mechanism) from April 1 will benefit the company immensely, market sources say.

Both these factors propped up the share price of ONGC on Friday. The stock closed at Rs 257.70, up 3.15 per cent with 3.22 lakh shares being traded on the BSE. On the NSE, it closed at Rs 257.40, up 3.06 per cent with 4.22 lakh shares being traded.

Major FII offloads Infosys shares?

INFOSYS Technologies witnessed some pressure in trading on Friday. Dealers said that there was a possible sell-off from a major foreign institutional investor (FII) stakeholder in the company.

The investor was rumoured to have offloaded some shares in the company sometime back. However, the scrip recovered after dipping to an intra-day low of Rs 3,806. Infosys closed at Rs 3,830.25, up marginally by 0.21 per cent with 2.74 lakh shares being traded on the BSE. On the NSE, it closed at Rs 3,826.30, up by 0.05 per cent with 5.91 lakh shares being traded.

Foreign interest in Financial Tech?

THE stock of e-trading and financial software solutions firm, Financial Technologies, was in the limelight on Friday. Market sources said that there was talk in the markets about an overseas company looking for a stake in Financial Technologies. Recently, the company announced its plans to expand operations in the US market. Financial Technologies closed at Rs 75.10 on the BSE, up by five per cent after a reaching a high of Rs 77.25 in intra-day deals.

Aparna Krishnan

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