What’s buzzing in these stocks right now

Hexaware

SBI MF is adding shares and is expected to add more. In an interview after its Q1 results, PR Chandrasekaran, vice chairman and CEO, Hexaware, had said that Europe is still a little sluggish for the company but Asia Pacific and North America were showing "good signs". He did admit that pricing was weakening. The stock has been sluggish at around Rs80.

Punj Lloyd

There is speculation about a large private investor accumulating in Punj. Our guess is that this rumour is mainly because the stock has strong support at current levels despite poor and disappointing results, when most people expected it to fall below Rs100.

Dr Reddy's

Rumours of promoters selling some stake to foreign investors at a significant premium to current market price. In the June quarter, promoter holding was almost 26% (largely unchanged), FII holding was 28.5% (slightly higher), and DII holding was 16% (lower).

Ranbaxy Labs

There is talk of better-than-expected results based on Daiichi's June quarter results in which the rest of the world sales were better than expected. It is unclear why Ranbaxy has not declared results on
the same day as Daiichi (Ranbaxy will on 12th August).

TCI Finance Ltd

Its hydro-project is expected to begin soon (rumour, no confirmation). TCI had invested in Amritjal Ventures Private Limited, which was into power generation. The hydro-project that is being talked about is Chuzachen Hydro Electric Power Project, which, according to Gati Infrastructure's website, is about 60km from Gangtok (Sikkim) and 100km from Bagdogra airport (West Bengal). Gati is TCI's promoter company.

Infinite Computer

It is rumoured to be looking at an Australia acquisition.

Zylog Systems

Zylog is running up on speculation of FII buying again. FII holding had fallen sharply in December but seems to be inching up slowly. Indian promoters seem to be picking up stake while foreign promoters are selling. New high today.

Birla ShlokaThere is speculation of good results from the company on 10th August. The Yash Birla company is planning to raise substantial money through a PE investment.

City Union Bank

There are rumours around a possible M&A deal. Suitors include L&T Finance, Kotak Mahindra Bank, and HDFC Bank.

 — Munira Dongre