Unfazed by the sluggishness in the construction sector and gloomy prospects for asbestos cement products, stocks like Eternit Everest, Roofit, Hyderabad and Visaka Industries are riding high on the bourses. Almost all players in the sector, with the sole exception of Ramco Industries, have witnessed some buying interest. However, the fundamentals do not justify the rise in prices, which seem to be merely riding piggy-back on the frenzied demand for cement stocks. The rally may, therefore, prove short-lived.

ITC Top 200 underperforms BSE-200

The Top 200 Fund of ITC Threadneedle has slowed down in the last three months with its NAV showing a negative growth of 0.1 per cent against a 5.6 per cent increase in its benchmark index, the BSE 200. Ever since the fall of the Vajpayee government, the market has recovered sharply on the back of a smart increase in economy-related stocks, particularly cement and petrochemicals. IT and pharma stocks, on theother hand, have shown a decelerating trend.

Templeton's collections rise

Templeton's mutual fund has recorded an impressive 50 per cent rise in collections to take its total assets at Rs 375 crore during the first two and half months of the current fiscal. ``Total assets under our management have risen from Rs 253 crore as on March 31 this year to over Rs 375 crore. The increase has been largely in our debt fund,'' Templeton AMC's vice president marketing Rajiv Vij said.

DSE members oppose panel proposal

The Delhi Stock Exchange has written to the Securities and Exchange Board of India stating that its members have rejected the B D Shah committee proposal to settle every outstanding position either by delivery of shares or cash payment. At an informal meeting, DSE members voiced their opinions against the proposal and said the present system of delivery as well as vyaj badla best suited the exchange, said DSE vice-president Bharat Bhushan Sahny.Strong buoyancy on Lyons Range

Ina broadened dealings share prices displayed an exceptionally strong trend on the Calcutta Stock Exchange with popular scrips providing the lead. Bulls appeared to have moved in strength to accelerate the upward thrust in share prices as sentiment improved further in the wake of continued interest shown by foreign funds.