Bonus rumours in Pentafour
Pentafour Software was in limelight again on rumours that the company would announce a bonus issue. Pentafour Software topped the list of turnover by registering the highest turnover of Rs 379.34 crore on BSE. The stock closed at Rs 1,192. It was the most actively traded security on NSE with a turnover of Rs 505.92crore.

Institutional activity
FIIs bought heavily into BSES, which saw the scrip touch the upper circuit. An FII was rumoured to have picked up 1.25 lakh shares of BSES. Morgan Stanley was rumoured to have bought 50,000 shares of Hero Honda and 15,000 shares of AgrEvo. Credit Suisse First Boston was rumoured to have bought India Cements and ITC and sold 50,000 shares of Ranbaxy. UTI was rumoured to have bought 75,000 Pentafour Software as well a chunk of NIIT and Infosys and ITC shares. Domestic institutions bought MTNL. SBI Mutual Fund was rumoured to have bought Zee Telefilms, while Birla Mutual Fund was rumoured to have bought Archies. FIIs also reportedly picked up shares of ITC, HLL, German Remedies and Infosys Technologies.

No bonus in MRF Tyres
The counter has been witnessing hectic buying activity off-late, on hopes of a liberal bonus of 5:1 which saw the scrip move up to touch Rs 2,409 levels from Rs 1,997. "However, the scrip has witnessed a sharp fall since the managementquashed hopes of a bonus. But, with the auto sector not-out-of-the-woods yet, the scrip is likely to trade in the current range and witness lacklustre activity. With an equity base of Rs 4.24 crore and reserves of Rs 0.35 crore, expectations of such a liberal bonus were anyway unfounded," said a fund manager of an FII fund.

Glaxo India zooms
The stock has been zooming upwards and has risen by 39.17 per cent from Rs 627.25 on February 9 to Rs 873 on April 6. Glaxo is being viewed as one of the most promising pharmaceutical company and that is what is driving up the stock. "The takeover of 5 ICI vet brands in the deworming category for an estimated Rs 15-20 crore (net sales of Rs 10 crore) is an important indicator of the evolution of a strategy by the management to consolidate its position in its key focus areas (even if the business belongs to segments in which the parent does not have a presence). This acquisition would allow it to further strengthen its position in the vet segment (in whichcurrently it is a market leader with 12 per cent market share) which is posting double digit growth rates. This is driving up the stock," said a fund manager.

Plum deal for ICI India
The company has entered into an agreement with pharma major Glaxo to sell 5 veterinary brands. This deal is expected to fetch the company around Rs 10-15 crore which would improve its cash flows. The deal will also help ICI focus on core areas. After lying low for three years, the demand for paints in the decorative sector is now picking up with improved housing demand. The stcok has moved from Rs 214 on March 3 to touch Rs 236 on March 15, but has fallen since then touch Rs 202.20 on April 6.