dkishore
10-05-2008, 08:47 AM
Shares of Assam Company have been on a boil over the past few sessions, rising a little over 13% in the last one week. Key business segments of the company are oil and gas exploration and tea plantation. Dealers attribute the renewed interest in the stock to surging crude oil prices. According to grapevine, the rar(e)ing bull has been one of the most active buyers of Assam Company shares recently.
The stock had caught the fancy of leading fund managers some months back. During October-December 2007, institutional holding in the stock more than doubled to 38% from 16.6% in the preceding quarter. As on March 31, 2008, these investors hold a little over 36%. But the stock performance, so far in 2008, has been a big disappointment for the big-ticket investors. After hitting a peak of Rs 57 on January 1, the stock price has been steadily sliding. A high percentage of institutional holding is usually a sign of confidence
The stock had caught the fancy of leading fund managers some months back. During October-December 2007, institutional holding in the stock more than doubled to 38% from 16.6% in the preceding quarter. As on March 31, 2008, these investors hold a little over 36%. But the stock performance, so far in 2008, has been a big disappointment for the big-ticket investors. After hitting a peak of Rs 57 on January 1, the stock price has been steadily sliding. A high percentage of institutional holding is usually a sign of confidence