Metro wants more of DS Kulkarni

STREET SIGNS

The stock price of D S Kulkarni Developers has seen a sustained rise over the past year. Same time last year, the stock was trading at an abysmal Rs 7.80. With strong buying support from biggies such as Metro Fund, it is no wonder that the stock has surged to its current levels. Metro had bought nearly a lakh of shares about three weeks back at Rs 123 levels.

Following this, others have also made forays at the counter, notably Marshall Fund which bought the stock at Rs 135 levels. Now, the news is that Metro has decided to up its stake at the counter and has bought 60,000 more shares at Rs 156 levels. The stock price now hovers around Rs 163 levels, a 32 per cent appreciation from the levels when Metro first bought it.

Visual appeal
Metro Fund seems to be mighty pleased with its recent purchases. Apart from D S Kulkarni Developers, technology stock VisualSoft Technologies was another on Metro's radar. Close on the heels of Softbank of Japan acquiring a 14 per cent stake in the company, Metro had also made some purchases at the counter, thus increasing its share to 5.80 per cent in the company.

Desi funds Reliable and Prudent had also bought the stock around the same time. As in the case of D S Kulkarni, Metro decided to make more purchases at the VisualSoft counter.

This time Metro bought close to two lakh shares at Rs 196 levels. This entire buying spree has helped the stock appreciate by 48 per cent in the past three weeks alone.

Flop show
The disillusionment of Disadvantage Fund with the Pritish Nandy Communications continues. After dumping the stock earlier in the month at Rs 70 levels, the fund has decided to sell another 1.8 lakh shares at the counter, this time at Rs 79 levels.

With several of the movies that the company is associated with failing to click at the box office, the fund's disappointment is clear. The stock has not set the bourses on fire either, with the price moving down from Rs 91 exactly a year back.

Ginni grants Reliable's wish
After picking up a seven per cent stake in Ginni Filaments, a manufacturer of cotton yarn, three weeks back, Reliable Fund has already decided to book profits. The fund has sold more than 6.5 lakh shares at the counter at Rs 48 levels.

The stock price had seen sudden spurt this week, after the commencement of commercial production of the company's knit fabric. Most of the production from the new unit is expected to be exported. Considering the export potential for textiles in developed markets, this will provide huge growth opportunities for the company, say analysts.