Deccan Chronicle – Short Term Investment
Delivery volumes of this Hyderabadbased company’s stock have surged 150 per cent in the last 20 days, with average delivery volumes touching 3.86 lakh shares. The stock has come off 12 per cent in the last fortnight. According to reports, Credit Suisse First Boston (Singapore) has sold 0.60 per cent stake (1.46 million shares) in Deccan Chronicle on January 28, 2010, for Rs 2.55 crore. The publisher of the English daily, Deccan Chronicle, announced a 200 per cent jump in net profit for the third quarter ended December 31, 2009 to Rs 78 crore from Rs 26 crore in the corresponding quarter of the last year. Total income increased 6 per cent to Rs 241 crore from Rs 228 crore in the corresponding quarter a year back. Vikas Pershad, founder and chief executive officer of Veda Investments, is bullish on the stock and expects it to touch Rs 220- 240 over the next 12-18 months.
Read Also : http://www.sharetradingtips.in/
Related posts: