IFCI Tops Volume Charts On Bourses

IFCI Ltd.IFCI topped the volume charts on BSE with 89.56 lakh shares. However, its share price dipped 1.41% to Rs 49.05. The derivative contracts in the underlying IFCI have crossed 95% of the market-wide position boundary and it is presently in the ban period.

Fresh reports indicate that IFCI plans to split off a division of its troubled asset range in the asset reconstruction company Assets Care Enterprise (ACE). In October 2006, the RBI informed that IFCI’s ARC license would lapse if it did not initiate functioning within six months. In recent times, RBI has granted an extension of six months to start ARC operations. IFCI had heightened foreign investment ceiling in the company to 74% from 24% on 4 May 2007. The company recorded healthy results on 3 May 2007.

GV Films is also in the list with the second highest volume of 87.54 lakh shares on BSE. The GV Films scrip rejected 3.37% to Rs 10.04. On 20 June, 2007, the company declared that it would mull over offer for construction of multiplex in Chennai in its board meeting on 25 June 2007.

On 18 June 2007, GV Films said it will think about the company’s demerger in three entities. GV Films picked up city distribution of the high-status mega film 'Sivaji' on 11 June 2007.

IKF Technologies showed the third highest volume of 75.81 lakh shares on BSE. The share price turned down 4.03% to Rs 8.10. On 1 February 2007, the company’s board okayed a MoU with the Gujarat Government involving a total investment of Rs 110 crore by the company for purchasing land for establishing a refinery in the state.

With 69.54 lakh shares, IDBI clocked the fourth highest volume on BSE. The share price plunged 1.28% to Rs 104.30. The bank is planning to bring up $1.5 billion in a medium-term note issue to support its future growth and for attainment purposes.

With 56.13 lakh shares, Time Technoplast is placed on the fifth place on BSE. The share price came up 15.59% to Rs 612.55. On 13 June 2007, the company closed the day at Rs 480.35, a premium of 52.49% over IPO price of Rs 315. The IPO was priced at the top end of the Rs 290 - Rs 315 price band.