Markets at a glance

TRADING DESK

Last week's close (Rs)

94.42

Prev. week's close (Rs)

93

Week's high (Rs)

96

Week's low (Rs)

89.08

Last week's ave. daily turnover (Rs cr)

3.4

Prev. week's ave. daily turnover (Rs cr)

4.4

Futures close

NT

Number of up/down move

3/2

TNPL is witnessing renewed institutional interest and analysts feel that the stock is expected to see some action going forward. Domestic mutual funds have already bought close to two lakh shares in last two trading seesions.

In the month of December, Principal PNB Mutual Fund and Reliance Mutual Fund added about 79000 shares to their portfolio. On Friday, at Rs 94.7 the stock has moved up by 2 per cent and volumes of nearly 3.4 lakh shares have more than doubled over the last week.

Analysts expected the stock to appreciate as the valuations of the company are reasonable at 9-10 times for FY06E.

The company, which was hitherto a player in the newsprint market has suceesfully changed its target market and now derives 95 per cent of revenues from printing and writing segment.

Stock of the week

Reliance Industries
Reliance Industries made a debut at Rs 700 post-demerger during the week. The post-demerger price was within the expected price band of between Rs 675 to Rs 750. Ahead of the demerger, RIL scrip had spurted over 6 per cent to Rs 928.15 on 17 January 2006. Following the hiving off of its interest in power, telecom and finance, RIL's focus in on three key businesses - petrochemicals, refinery and oil & gas exploration.

The weightage of RIL post de-merger in the Sensex was 9.48%, down from 12.2% on pre-merger basis. RIL's weightage in Nifty was 7.39%, compared to 9.6% on a post and pre-merger basis.

RIL's Q3 December 2005 net profit fell 15 per cent to Rs 1,776 crore due to fall in refining margins as the refinery was under partial shutdown for planned maintenance for over 45 days in October and November 2005. The company posted 2 per cent rise in revenue to Rs 18168 crore.