Street signs

After an early week wobble, markets bounced back strongly. By the end of the week benchmark indices had reached all-time high levels, thus re-establishing the dominance of bulls. Now Merry Lunch's Indian research arm is hell bent on spoiling the good mood.

In a recent report, they have noted that Indian markets are 10-15 per cent above fair value. But the Prized One Brokerage has hit back with their strategy report, noting that valuations are reasonable relative to growth. The brokerage also notes that consumption-led growth should ensure good times ahead.

Uncle Sam's desi fund was a buyer at Emco counter. The fund has bought close to 75,000 shares at Rs 390 levels. With Emco coming out with an impressive performance during the September quarter, Uncle Sam's interest in the stock is perfectly understandable.

The growing interest in the stock can be gauged from the fact that the institutional holding in Emco has gone up, from 4.93 per cent at the end of June to close to 17 per cent as of September 30, 2005.

Buying interest at the Indo Asian Fusegear is building up. The stock has seen a near 41 per cent appreciation in the past month after the lighting major announced that it is planning to acquire two firms in the UK and Germany in a bid to ramp up its global presence.

Jeweller Fund was among the recent buyers at the counter, picking up some two lakh shares at Rs 142 levels.