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| The 30-share BSE Sensex closed the week 86.90 points higher at 5131.72, while the broader Nifty climbed 30.55 points to end at 1645.80. The Sensex rose to a 44-month high on Monday on the back of hopes of improved FII inflows. |
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| The markets continued in the same vein on Tuesday, recording their fifth straight win. Profit-booking led to some losses in pivotal sectors mid-week, though the overall trend continued upwards. |
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| Despite a strong performance by the BJP in state elections, action on Thursday was volatile and the markets snapped their six-session winning run on Friday as heavy profit-booking took its toll on the indices. |
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| HERO HONDA |
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| Last week's close (Rs) 380.75 |
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| Prev. week's close (Rs) 374.55 |
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| Week's high (Rs) 413.85 |
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| Week's low (Rs) 377.00 |
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| Last week's ave. daily turnover (Rs cr) 54.18 |
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| Prev. week's ave. daily turnover (Rs cr) 26.74 |
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| Futures close Dec-2003 (Rs) 0.00 |
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| Futures close Jan-2004 (Rs) 390.05 |
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| Futures close Feb-2004 (Rs) 0.00 |
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| Number of up/down moves 2/3 |
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| Hero Honda was on top gear last week with shares of the company hitting an all time high on Tuesday. The scrip spurted over 4.3 per cent over its previous weekly close. The spurt at the counter has been attributed to the company reporting good sales figures for November. |
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| According to market sources, players have been accumulating the Hero Honda stock in anticipation of good future growth. Hero Honda witnessed a 26.4 per cent rise in bike sales in the month of November. |
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| The company said it sold 2,04,533 motorcycles in the month of November 2003, from 1,61,865 units sold in the same month last year. In October 2003, the Munjal-owned two-wheeler major sold a whopping 2,07,472 motorcycles. |
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| The company expects its FY04 sales to grow by 15 per cent over the previous fiscal year, buoyed by rural buying on the back of better than expected southwest monsoon. Hero Honda sold 16.8 lakh motorcycles in the fiscal year to March 31, 2003, up 17.7 per cent from the previous financial year. |
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| DIGITAL GLOBALSOFT |
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| Last week's close (Rs) 744.65 |
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| Prev. week's close (Rs) 656.30 |
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| Week's high (Rs) 749.00 |
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| Week's low (Rs) 706.55 |
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| Last week's ave. daily turnover (Rs cr) 152.58 |
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| Prev. week's ave. daily turnover (Rs cr) 255.80 |
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| Futures close NT |
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| Number of up/down moves 4/1 |
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| Digital Global Soft was among the gainers in the week and spurted almost 12 per cent over its previous weekly close. |
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| The scrip had gained over 11 per cent on Monday itself at the BSE after its parent company and its majority shareholder, Hewlett-Packard (HP) announced that it would buy out the 49.4 per cent public stake in the company at a price of Rs 750 per share. |
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| The Bangalore-based software services exporter said that the open offer is likely to cost HP close to Rs 1,000 crore. The proposed offer is at a 14.2 per cent premium over Digital scrip`s Friday close of Rs 656.70 at the BSE. |
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| However, post offer, the Digital scrip would get de-listed from domestic stock exchanges. |
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| Digital GlobalSoft, in June, signed a definitive agreement with HP to combine operations with HP Services India Software Organization (HP ISO). |
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| Under the agreement, HP was to increase its equity stake in Digital GlobalSoft to 73.2 per cent from 50.6 per cent. |
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| ICICI BANK |
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| Last week's close (Rs) 260.03 |
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| Prev. week's close (Rs) 250.00 |
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| Week's high (Rs) 290.65 |
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| Week's low (Rs) 252.98 |
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| Last week's ave. daily turnover (Rs cr) 219.61 |
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| Prev. week's ave. daily turnover (Rs cr) 35.53 |
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| Futures close Dec-2003 (Rs) 0.00 |
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| Futures close Jan-2004 (Rs) 262.05 |
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| Futures close Feb-2004 (Rs) 0.00 |
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| Number of up/down moves 3/2 |
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| The banking major's scrip registered an increase of on the bourses last week with its volumes surging a whopping 620.69 per cent. This run-up was due to a huge block deal involving 2.5 crore shares (priced at Rs 265 per share) on the BSE, said dealers. The scrip had been rising off late in the past three weeks. |
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| In the first half of November the stock clocked an increase of more than 19 per cent. FIIs have been constantly accumulating the bank's stock and their holding has more than doubled to 42 per cent in September 2003 from 20 per cent in September 2002. |
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| ACC |
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| Last week's close (Rs) 225.98 |
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| Prev. week's close (Rs) 226.75 |
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| Week's high (Rs) 239.10 |
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| Week's low (Rs) 224.45 |
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| Last week's ave. daily turnover (Rs cr) 99.13 |
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| Prev. week's ave. daily turnover (Rs cr) 90.68 |
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| Futures close Dec-2003 (Rs) 0.00 |
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| Futures close Jan-2004 (Rs) 230.00 |
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| Futures close Feb-2004 (Rs) 0.00 |
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| Number of up/down moves 2/3 |
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| The counter witnessed buying interest after the company announced that it is set to buy out Unit Trust of India's 13.21 per cent stake in IDCOL Cement. Earlier ACC had acquired 86.79 per cent stake in IDCOL from the Orissa government. |
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| The acquisition of IDCOL Cement's 1 million tonne plant at Bargarh, Orissa, will make ACC the largest cement manufacturer in India, with an installed capacity of close to 18 million tonnes per annum, ahead of Larsen & Toubro's 16.5 million tonnes. |
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| Meanwhile, the FII stake in ACC has jumped from 18.08 per cent to 23.40 per cent since June this year. |
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| GRASIM |
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| Last week's close (Rs) 867.15 |
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| Prev. week's close (Rs) 899.38 |
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| Week's high (Rs) 928.95 |
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| Week's low (Rs) 863.48 |
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| Last week's ave. daily turnover (Rs cr) 29.47 |
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| Prev. week's ave. daily turnover (Rs cr) 32.67 |
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| Futures close Dec-2003 (Rs) 0.00 |
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| Futures close Jan-2004 (Rs) 881.10 |
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| Futures close Feb-2004 (Rs) 0.00 |
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| Number of up/down moves 2/3 |
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| Grasim Industries was among the rare stocks which recorded a decline last week. According to analysts, the stock declined on profit booking after sustained rises recently. Cement counters have been witnessing buying interest on the back of reports of further hike in cement prices. |
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| Grasim`s October shipments rose 10.78 per cent, while Gujarat Ambuja clocked an 8 per cent growth in its cement despatches of October. |
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| Grasim has posted a net profit of Rs 202.98 crore for the quarter ended September 30, 2003, compared to Rs 128.67 crore for the quarter ended September 30, 2002, an increase of 57.75 per cent, year on year. |
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| Total Income has increased from Rs 1149.46 crore in the September quarter of 2002 to Rs 1243.77 crore in the quarter ended September 30, 2003. |
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| HPCL |
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| Last week's close (Rs) 388.48 |
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| Prev. week's close (Rs) 366.85 |
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| Week's high (Rs) 401.15 |
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| Week's low (Rs) 365.55 |
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| Last week's ave. daily turnover (Rs cr) 121.76 |
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| Prev. week's ave. daily turnover (Rs cr) 143.08 |
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| Futures close Dec-2003 (Rs) 0.00 |
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| Futures close Jan-2004 (Rs) 388.35 |
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| Futures close Feb-2004 (Rs) 396.00 |
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| Number of up/down moves 3/2 |
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| The oil and refining major's stock saw substantial activity last week on the back of fund buying in the stock. HPCL attracted attention on the news that the company was due to announce a huge interim dividend for FY04. |
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| Sources also add that interest in the state-run refineries has come mainly because of anticipation of huge interim dividends. |
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| Now that the divestment process is an a stand-still owing to opposition, the government is said to have decided to seek dividends from the profit-making companies to enhance its cash pockets. |
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| ITC |
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| Last week's close (Rs) 909.45 |
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| Prev. week's close (Rs) 855.95 |
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| Week's high (Rs) 932.00 |
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| Week's low (Rs) 858.53 |
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| Last week's ave. daily turnover (Rs cr) 62.19 |
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| Prev. week's ave. daily turnover (Rs cr) 29.70 |
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| Futures close Dec-2003 (Rs) 0.00 |
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| Futures close Jan-2004 (Rs) 940.00 |
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| Futures close Feb-2004 (Rs) 0.00 |
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| Number of up/down moves 4/1 |
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| The tobacco major witnessed an increase in price on the bourses last week by 5.26 per cent. Volumes too surged to clock an increase of almost 80 per cent. |
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| According to market sources, the stock moved up late last week in anticipation that the company is likely to win a pending court case against the government over imposition of luxury tax on cigarettes. |
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| The company's bottomline will receive a significant boost if it wins the case. ITC's non-tobacco businesses like hotels and food products are also doing well, thus improving its growth prospects for the coming quarters. |
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| Stock of the week |
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UTI BANK
Last week's close (Rs) 109.15
Prev. week's close (Rs) 83.70
Week's high (Rs) 136.00
Week's low (Rs) 84.08
Last week's ave. daily turnover (Rs cr) 27.84
Prev. week's ave. daily turnover (Rs cr) 3.44
Futures close NT
Number of up/down moves 4/1 |
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| UTI Bank was in the limelight this week and witnessed a whopper of a rally to gain by over 30 per cent over its previous weekly close. |
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| The stock was frozen at the 20 per cent upper circuit on Wednesday after London-based Hong Kong and Shanghai Banking Corporation (HSBC) acquired 14.71 per cent in the private banking major. |
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HSBC, the second-largest in the world in terms of market value, bought CDC Financial Partners (Mauritius)
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