Power Grid Corporation of India tops volume on BSE

Power Grid Corporation of India was the volume topper on BSE, notching total volume of 3.55 crore shares. The stock surged 11.18% to Rs 128.25. As per reports, Power Grid Corporation of India (PGCIL) is planning equity investments to the tune of Rs 16500 crore over the next five years to fund a slew of transmission projects, aimed at nearly trebling the country’s inter-regional transmission capacity.

Tata Teleservices (Maharashtra) clocked volume of 3.52 crore shares. The stock jumped 5.85% to Rs 44.30. The company’s board of directors recently approved the issue and allotment of an aggregate of 1.51 crore equity shares of Rs 10 each to investors who have exercised their right to convert foreign currency convertible bonds (FCCBs) of $83.59 lakh into equity shares. It was the second most traded counter on BSE in terms of volume.

IFCI came third in terms of total volumes on BSE. The stock declined 2.67% to Rs 85.80 on 1.76 crore shares. IFCI, has, reportedly given an option to its existing 30 lenders to convert part of their debentures into equity, a move the firm claimed would not hamper the stake-sale process. The company will start the process of inviting the financial bids next week and should be able to finalise the stake-sale process within two-and-a-half months.

Currently, eight bidders are in the fray for acquiring a 26% strategic stake in IFCI.

Reliance Natural Resources clocked volumes of 1.71 crore shares. The stock slipped 0.42% to Rs 95.65. The Bombay High Court in its operative judgment announced yesterday, 15 October 2007 asked Mukesh Ambani-promoted Reliance Industries (RIL) and Reliance Natural Gas Resource (RNRL), controlled by Mukesh's younger brother Anil Ambani, to renegotiate the dispute on the gas allocation from the Krishna-Godavari Basin. It stood fourth in terms of volumes of BSE today.

Reliance Petroleum was the fifth most traded counter with volumes of 1.21 crore shares. The stock rose 1.30% to Rs 183.40

The BSE 30-share Sensex ended with a marginal fall of 6.81 points, or 0.04%, to 19,051.86, in volatile trade. It opened on a positive note today and soon rose to hit its all-time high of 19,174.45. At day's high of 19,174.45, Sensex had risen 115.78 points for the day. It hit a low of 18,777.75 during mid-afternoon trade. At day’s low of 18,777.75 Sensex had lost 280.92 points.