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THE market expects early divestment in BPCL and HPCL. The talk is that the Government is likely to disinvest its stake in HPCL in the current fiscal and in BPCL in the first half of next fiscal year.

There were also talk that the active buying in these counters is from the political circles in Delhi who are aware of the disinvestment developments. Dealers said the Government is expected to divest around 25-26 per cent stake in HPCL in the current fiscal. The players are expecting that the successful buyer would be a PSU.

Due to these market developments, a number of FIIs purchased shares of these oil PSUs on Monday.

On the BSE, the BPCL stock ended 5.22 per cent higher at Rs 200.40 with volumes of 24.04 lakh shares. On the NSE, the stock closed at Rs 199.30, up 4.54 per cent with volumes of 50.92 lakh shares.

HPCL gained 4.89 per cent at Rs 230.75 with volumes of 31.70 lakh shares on the BSE. The stock closed at Rs 229.70, up 4.48 per cent with volumes of 67.51 lakh shares on the NSE.

Satyam up on FII support

SATYAM Computer was the major gainer among the index stock on Monday. The stock gained 5.67 per cent at Rs 290.85 with volumes of 83.59 lakh shares on the BSE. On the NSE, the stock closed at Rs 289.50, up 5.29 per cent with volumes of 2.12 crore shares.

The rise in the stock price was attributed to active buying by FIIs. Dealers said these FIIs see good financial performance by the company in the next few quarters. After Infosys Technologies, these FIIs are active buyers in Satyam counter.

Active buying in Bharat Forge

THERE were active purchases in auto-ancillary company Bharat Forge over the last few days, as seen from the increase in the trading volumes.

Dealers said a leading market player is accumulating the stock. Till now, there has not been a sharp rise in the stock price.

The accumulation is mainly on expectation that Bharat Forge is likely acquire a company either in the US or Europe shortly. On Monday, the stock ended 2.52 per cent higher at Rs 184.95 with volumes of 86,455 shares on the BSE. On the NSE, the stock closed at Rs 185, up 2.99 per cent with volume of 1.07 lakh shares.

Virendra Verma

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