| ONGC |
| Last week's close (Rs) | 675.97 |
| Prev. week's close (Rs) | 633.97 |
| Week's high (Rs) | 680.73 |
| Week's low (Rs) | 623.58 |
| Last week's ave. daily turnover (Rs cr) | 351.45 |
| Prev. week's ave. daily turnover (Rs cr) | 288.14 |
| Futures close | NT |
| Number of up/down move | 3/2 |
| |
|
The shares of PSU oil major ONGC had a major bearing on the upward movement of the Sensex last week, as the scrip with the highest weightage in the index moved up 6.72 per cent, contributing more than 36 points to the index gains.
| |
| The gains at the counter were boosted by a block deal during the week, where more than 45 lakh shares changed hands between two FIIs. |
| |
| Moreover, ONGC is not expected to suffer from any budget announcements, as per a report by investment bank Merrill Lynch. According to the report, the budget will have little impact on upstream companies like ONGC. |
| |
| The stock is expected to benefit if there is a cut in excise duty on kerosene and continuation of LPG/kerosene subsidy, while the impact will be marginally negative if duty on crude is reduced, says the report. |
| |
The stock also turned attractive fresh buying after international oil prices rebounded more than $1 on Wednesday as top oil exporter Saudi Arabia, which has boosted supply to cool prices, said that it believed the market had now reached a fair value. | BHARTI TELE-VENTURE | | Last week's close (Rs) | 143.65 | | Prev. week's close (Rs) | 133.45 | | Week's high (Rs) | 144.87 | | Week's low (Rs) | 133.03 | | Last week's ave. daily turnover (Rs cr) | 48.89 | | Prev. week's ave. daily turnover (Rs cr) | 49.92 | | Futures close | NT | | Number of up/down move | 4/1 |
|
| |
| Bharti Tele-Venture's stock performed in line with the market rally last week. The stock closed 7.6 per cent higher than its previous week's close at the bourses while volumes remained subdued with a marginal decline of 2 per cent. Resistance may step in at levels of Rs 147 and further at levels of Rs 158. |
| |
| Although the budget is not expected to impact the sector in a major way, reduction in import tariffs on telecom equipments will lower costs and an increase in foreign direct investment limit will boost the sector further. |
| |
| In a recent research report, a leading foreign brokerage had chosen Bharti as its most preferred stock in the sector. According to technical analysts, the stock has been in an intermediate correction for some time now. |
| |
| "Currently we have seen is a corrective pull-back," says Hemen Kapadia, partner, Morpheus Inc., an investment advisory firm. This pull-back has coincided with the pre-budget rally that the stock market is witnessing. |
| |
Stock of the week | KEC INTERNATIONAL | | Last week's close (Rs) | 65.63 | | Prev. week's close (Rs) | 55.88 | | Week's high (Rs) | 68.50 | | Week's low (Rs) | 56.30 | | Last week's ave. daily turnover (Rs cr) | 2.76 | | Prev. week's ave. daily turnover (Rs cr) | 0.59 | | Futures close | NT | | Number of up/down move | 4/0 |
|
| |
| KEC International's stock registered a handsome gain of 17.40 per cent last week. The counter has been active ever since the Electricity Act, 2003 was passed which meant access to power generation companies which in turn boosted the equipment manufacturer's business. |
| |
| Last week, KEC International was up on the back of news that it bagged a new order in Abu Dhabi, aggregating to Rs 365 crore by the Abu Dhabi Water and Electricity Authority (ADWEA). This is one of the largest orders awarded by the ADWEA. The project has to be executed in 22 months. |
| |
| KEC International has had a presence in Abu Dhabi for the last 10 years and has already executed orders worth more than Rs 1,100 crore for ADWEA till now and currently orders aggregating Rs 285 crore are under execution. |
| |
| The company's present order book position stands at Rs 2.300 crore. The company's domestic order book position has also improved and currently stands at Rs 700 crore. |
| |
RECAP: NATIONAL ALUMINIUM
The aluminium stock moved up marginally by 0.21 per cent to end the week at Rs 135.33. |
| |
Stock to watch | STATE BANK OF INDIA | | Last week's close (Rs) | 445.20 | | Prev. week's close (Rs) | 419.30 | | Week's high (Rs) | 450.45 | | Week's low (Rs) | 417.38 | | Last week's ave. daily turnover (Rs cr) | 462.09 | | Prev. week's ave. daily turnover (Rs cr) | 515.18 | | Futures close | NT | | Number of up/down move | 4/1 |
|
| |
| The PSU bank counter gained 6.18 per cent to Rs 445.20 last week. The stock is expected to be under focus because of several budget measures likely to be announced in the banking sector. |
| |
| It is expected that the budget will provide for easy access to credit for farmers may be at banks' expense. The budget announcements are likely to provide clarity on the new government's stance on some of the financial sector reforms like cap on voting rights and hike in 20 per cent foreign ownership limit for PSU banks. |
| |
| Apart from these, it is expected that minimum priority sector lending requirement could be raised beyond 40 percent, while the market also anticipates a cut in small savings rate. |
| |
| Meanwhile the bank plans to focus on overseas expansion and infrastructure lending in the current fiscal. Apart from this, the bank would continue to remain aggressive in retail banking, SMEs and personal banking. |
| |
RECAP: RELIANCE INDUSTRIES
The scrip recorded marginal gains of 0.56 per cent to close at Rs 434. |
| |
Mid-cap mover | APOLLO TYRES | | Last week's close (Rs) | 180.13 | | Prev. week's close (Rs) | 168.20 | | Week's high (Rs) | 190.00 | | Week's low (Rs) | 166.00 | | Last week's ave. daily turnover (Rs cr) | 3.70 | | Prev. week's ave. daily turnover (Rs cr) | 0.37 | | Futures close | NT | | Number of up/down move | 4/0 |
|
| |
| The shares of Apollo Tyres advanced 7.09 per cent last week to close at Rs 180.13. The main impetus for the rise in share prices was the result of the company announcing a hike in its tyre prices. |
| |
| The upward move is also thought to be a part of a run-up in the prices of small and mid-cap stocks. Meanwhile, the company has revised its bid to acquire the tyre plant of Modi Rubber Ltd. Apollo Tyres has sought 30 days to carry out the due diligence. |
| |
| The plant has been shut for over two years now. The company is interested in the Modi Rubber plant as it will give it a production base in the lucrative north Indian market. Apart from Apollo Tyres, JK Industries has also shown an interest in acquiring the plant. |
| |
RECAP: MERCK
The pharma stock declined 2.58 per cent to close at Rs 450.68. |
| |
Small-cap mover | AFTEK INFOSYS | | Last week's close (Rs) | 71.85 | | Prev. week's close (Rs) | 68.43 | | Week's high (Rs) | 72.93 | | Week's low (Rs) | 67.10 | | Last week's ave. daily turnover (Rs cr) | 3.00 | | Prev. week's ave. daily turnover (Rs cr) | 1.80 | | Futures close | NT | | Number of up/down move | 2/3 |
|
| |
| Technology scrip Aftek Infosys was in the thick of action last week and attracted buying interest, which saw it end with a 5 per cent gain over its previous weekly close. |
| |
| The stock was buoyed by reports of its European affiliate Arexera Information Technologies buying a 56 per cent stake in Germany's Seekport Internet Technologies. |
| |
| Aftek owns a 49 per cent stake in Arexera and has a firm understanding to buy the remaining 51 per cent stake. The acquisition would enable Arexera to offer search engine services under the B2B and B2C models. |
| |
| Aftek, together with a financial investor, had acquired the 41 per cent stake in Arexera in March 2003. Dealers say that volumes at the counter were exceptional last week, notching more than double its average weekly turnover. |
| |
RECAP: SSI
The scrip advanced 3.98 per cent to end the week at Rs 127.30. |
| |
|
| |
