Stocks of textile companies ended higher on the Bombay Stock Exchange (BSE) today on expectations of good results for the December quarter.
GTN Textiles closed 8.07 per cent higher at Rs 26.70, Alok Industries added 5.66 per cent to Rs 14, Bombay Dyeing jumped 4.3 per cent to Rs 46.85, while Vardhaman Spinning was up 3.45 per cent to Rs 56.90. Arvind Mills also rose 2.54 per cent to Rs 24.20, while Raymond was up 0.99 per cent at Rs 100.75.
The Bombay Dyeing scrip has gained 5.8 per cent in the last two sessions from a low of Rs 44.25 on January 14, 2003.
Arvind Mills has also rallied 12 per cent to the current Rs 24.20, from a low of Rs 21.45 on January 6, 2003.
Marketmen said textile companies are expected to come out with good results for the third quarter ended December 31, 2002.
Textile exports, especially of the hand-made and synthetic variety, have been on the rise. Exports of cotton fabrics have also been increasing.
Bhel charges up on sustained buying
Stocks of BHEL hogged the limelight today on good buying support. Stocks of the power equipment major closed 1.78 per cent higher at Rs 177.10, off the intra-day high of Rs 179.60. Up to 6.74 lakh shares of the company changed hands on the BSE today.
The stock has witnessed a sustained rise in the last few sessions. The scrip has gained 9.1 per cent from a low of Rs 163.10 on December 18, 2002. Dealers said the stock has witnessed good buying support. It is also fundamentally sound, and has a strong order book position, they added.
Bajaj Auto rides on results again
Bajaj Auto was the biggest gainer among sensex stocks today on renewed buying support. Stocks of the two-wheeler major rose 4.34 per cent to Rs 531.05.
Around 5.46 lakh shares of the company changed hands on the BSE today.
