Markets at a glance

TRADING DESK

This is mainly because of the Union Budget's positive announcements regarding the food proceesing sector. Domestic mutual funds already hold about 5 per cent of the total shares of the company.

Satnam Overseas is a rice-processing firm and is expected to gain on the priority sector lending status given to the food processing sector in the Budget 2006-07

Stock of the week  

Maruti Udyog Ltd
Last week's close (Rs)	929.83
Prev. week's close (Rs)	778.15
Week's high (Rs)	939.25
Week's low (Rs)	780.70
Last week's ave. daily turnover (Rs cr)	600.59
Prev. week's ave. daily turnover (Rs cr)	148.25
Number of up/down move	5/0

The Maruti Udyog stock surged 19.35 per cent over the week to close at Rs 928.45 following positive announcement in the Union Budget 2006-07 -- the cut in excise duty on small cars from 24 per cent to 16 per cent.

Maruti's models such as Maruti 800, Omni, Alto, Zen and Wagon R qualify for the category as per the Budget definition of small cars. Maruti derives about 90 per cent of its revenues from these cars.

The company immediately passed on the benefits of the duty cut to its customers by reducing prices in the range of Rs 13,000 to Rs 22,000 on five of its models.