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Balaji Telefilm’s shares hits an all time high on Q3 hopes

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Balaji Telefilm’s shares hits an all time high on Q3 hopes

High expectations from the third quarter results lifted the Balaji Telefilm’s share to an all-time high of Rs 414.75 yesterday. The scrip thus rose 10.2 per cent over its previous close of Rs 376.25. The market expects the company to report a 76 per cent rise in profit after tax at Rs 7.60 crores when its third quarter results are announced on January 21, 2002.

The higher result expectations are based on the strong performance of Balaji's new high-budget soaps -- Kasauti on Star Plus and Kutumb on Sony -- launched in October 2001.

The single day volume of trading accounts for 11.7 per cent of the equity capital of the company, and 36.5 per cent of the floating stock.

Foreign institutional investors (FIIs), also increased their holding during the quarter ended December 2001. The FIIs stake in the company increased from 1.01 per cent in September 2001 to 6.32 per cent as on December 2001.

The stock has outperformed the Sensex since January 1, 2002 with a gain of 42.7 per cent. The BSE Sensex has risen by 3.2 per cent during the period.


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