Bajaj Auto
Friday close: Rs 398.95
Previous close: Rs 377.10
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Bajaj Auto was one of the main beneficiaries of the recent rally in auto stocks. The scrip was buoyant on the news of the company's initiatives to enter into a joint venture with an Indonesia-based company to tap the vast potential in the South East Asian countries. The company has been aggressively looking at expanding its exports business and aims to generate 15-20 per cent of the revenues from it by 2005.
Dr Reddy's
Friday close: Rs 847.60
Previous close: Rs 804.55
Dr Reddy's gained nearly five per cent on renewed buying as the scrip was hammered down to Rs 800 levels. The company says it is working on three compounds in the speciality segment and nine new chemical entities in development, which it expects will drive its long-term growth, while the generics segment is expected to be the near-term growth driver. The scrip is likely to remain range bound in the next couple of months
Hindalco
Friday close: Rs 533.75
Previous close: Rs 557.95
Hindalco lost nearly five percent on expectations that global aluminium prices are likely to decline further on the back of high inventory levels and sluggish economic growth. Aluminium prices in India are directly linked to the international prices.
Weak aluminium prices means lower realisations for domestic aluminium majors such as Hindalco and Nalco. Analysts have revised downwards the net profit forecast for Hindalco by about 35 per cent
Larsen & Toubro
Friday close: Rs 169.90
Previous close: Rs 181.95
The Birla group increasing its stake from 11 per cent to over 14.5 per cent was one of the prime price drivers at the Larsen & Toubro counter. This apart, the company's already healthy order book position was further boosted by acquisition of $25 mn contract from Kuwait. The counter, however, seems to have lost steam and will remain muted over the next couple of weeks.
Zee Telefilms
Friday close: Rs 91.40
Previous close: Rs 86.50
The media conglomerate Zee Telefilms scrip witnessed renewed buying largely due to the optimism about its new programming initiatives. This time around, Zee is depending on blockbuster movies to win back the viewers.
Movies are relatively expensive content and channels slot it on weekends. Zee is doing just the opposite by airing new movies on the weekdays. The scrip had shown a similar trend prior to the company