ABB
Friday close: Rs 243.3
Previous close: Rs 273.4
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ABB declined 11.12 per cent on rumours that the parent company may file for bankruptcy. The ABB group slashed its earnings target and sought protection from creditors, after a US unit was hit by asbestos lawsuits.
The parent company has a 52.11 per cent stake in ABB (in India). However market sources say that the Indian arm is on a firm footing with strong order book position and enjoying high profitability.
Digital GlobalSoft
Friday close: Rs 514.1
Previous close: Rs 570.6
Digital GlobalSoft declined before the announcement of its quarterly results on expectations of a weak performance. Market participants expect merger (between Compaq and Hewlett Packard) pangs to result in slowdown of business from its parent.
Similar trend was witnessed earlier also when Compaq acquired Digital Equipment globally that led to unstability in company's revenues during 1998-99.
Hindustan Lever
Friday close: Rs 160.6
Previous close: Rs 176.65
Hindustan Lever dropped 9.43 per cent after its third-quarter earnings fell short of analysts estimates. The company reported a 3.50 per cent rise in profits for the July-September quarter. Net sales fell 7.2 percent during the same period. Analysts feel the worst is far from over for India's largest consumer goods maker.
MTNL
Friday close: Rs 102.5
Previous close: Rs 91.10
The state-owned telecom major witnessed heavy selling pressure on the last trading session last week, after the dismal second quarter results announced on Friday.
Though the decline in MTNL's bottomline by 35 per cent to Rs 247 crore was in line with market expectations, it had a significant impact on investor sentiments. The scrip is expected to remain muted over next few weeks.
Sun Pharma
Friday close: Rs 560.50
Previous close: Rs 539.50
The scrip rose four percent on news that the company is considering a proposal to buy back shares. The company is also likely to go in for a stock split. Brokers expect the company to buy back its shares at a price that is 10 percent higher than the current market value.