Golden Socks attempts to communicate on desi lines

No other frontline scrip would have had as much ups and downs in the shortest possible time period as Satyam Computer has. On Monday, Small Daddy too is believed to have joined ranks with the sellers at the counter, dumping nearly a million shares.

This apart, B&P brokerage is reported to have offloaded nearly 5 lakh shares although the identity of the fund house could not be confirmed. Union Swiss Bank brokerage however continued with its purchases, picking up close to 8 lakh shares reportedly on behalf of a hedge fund.

The support level for the stock has been clearly unsettled over the past three weeks, courtesy repeated hammerings from Cane bank Off Shore, Cap-It-All, Jane and now Small Daddy. The Buyers XI comprises the likes of Savvy, Coat Hari and a clutch of other funds, which have bought in small chunks.

Unequal combat?
With the Singapoori Sarkar too believed to have thrown his might behind Jane and Golden Socks, the current big ticket sellers at the RIL counter, it is indeed surprising the stock price has manage to withstand the onslaught. The only heavyweight on the buying side is Cap-It-All along with a clutch of smaller names. On Tuesday, the Why Care brokerage is reported to have been among the buyers, adding about 2 lakh shares to one of its unconfirmed client’s kitty. Meanwhile kid brother RPL recovered quickly from the after effects of Co-Tech securities sales at the counter on Monday. The broking firm is reported to have dumped close to 5 lakh shares.

Pack up time?
Seems as if the Why Care brokerage is not through with the HFCL scrip. After lowering its guns for a while, the firm has come back for a second round of firing looking at the stable prices.

The brokerage has been repeatedly hammering the stock since the past one month on behalf on an overseas player. Already Care has dumped around 3-4 million shares and topped it on Tuesday by dumping another 5 lakh shares.

Trivia
Even though Golden Socks and the Genius Fund (not to be confused with Jane) had managed to infuse some life into the MTNL scrip through their purchases, HS Busy AMC seems to be playing the spoilsport by booking profits.

Meanwhile, Genius Fund is reported to have picked up a good chunk of Hero Honda over the past few trading sessions. Among Monday’s key deals, Numero Uno is reported to have picked up close to 2.25 lakh shares of VSNL, which figures on the recommended list of Golden Socks. Golden seems to be among the few investment banking houses convinced that things are not so bleak for the company as has it been made out to be.
—Santosh Nair
santoshnair@myiris.com