Markets remain bullish

STOCK MONITOR

 Number of up/down move4/1  Bharti Tele-Ventures gained 7.60 per cent last week to close at Rs 149.40. The counter witnessed renewed buying interest after the telecom service provider announced plans on Thursday to bring all its services under its flagship Airtel brand, according to market players.  It would invest around Rs 600 crore to launch cellular services in six new circles by March.  Following the launch in the new circles, Bharti will have its footprint in all 23 cellular circles in the country. It aims to provide an entire gamut of services - be it mobile, land-line or broadband - under one roof.
 

BPCL
Last week's close (Rs)	370.82
Prev. week's close (Rs)	339.88
Week's high (Rs)	374.70
Week's low (Rs)	338.75
Last week's ave. daily turnover (Rs cr)	32.13
Prev. week's ave. daily turnover (Rs cr)	15.54
Futures close September-2004 (Rs)	369.70
Futures close October-2004 (Rs)	370.00
Futures close November-2004 (Rs)	0.00
Number of up/down move	3/2

 BPCL was the biggest gainer among index scrips last week, moving up 9.10 per cent to close at Rs 370.82. The scrip had hit a four-month high last week, following fund-based buying at the counter over the past few sessions.  Aberden Asset Management Asia, a foreign institutional investor, brought 5.95 lakh shares of BPCL last week, taking its total holding in the company to 1.51 crore shares.  Recently, the company declared a final dividend of Rs 228.39 crore to the government of India for the year 2003-04 at the rate of 115 per cent. With this, it declared a total dividend of 175 per cent, including an interim dividend of 60 per cent, for the year.
 

MARUTI UDYOG
Last week's close (Rs)	358.05
Prev. week's close (Rs)	392.60
Week's high (Rs)	396.00
Week's low (Rs)	348.08
Last week's ave. daily turnover (Rs cr)	521.24
Prev. week's ave. daily turnover (Rs cr)	236.16
Futures close September-2004 (Rs)	359.70
Futures close October-2004 (Rs)	361.75
Futures close November-2004 (Rs)	0.00
Number of up/down move	2/3

 The markets gave a thumbs down to Maruti Udyog, following Suzuki's decision to enter the domestic market with a subsidiary to manufacture cars.  Maruti's price plummeted amidst fears that it would not derive any profits as a fallout of the new development. The price tumbled 8.8 per cent at the bourses as players rushed in to sell the stock.  While Maruti declared that the new venture would be a JV, the markets do not seem to applaud the statement. It looks like the stock would have to face the markets' wrath till the confusion over the stake of partners in the new venture is sorted out.
 

ZEE TELEFILMS
Last week's close (Rs)	156.55
Prev. week's close (Rs)	149.42
Week's high (Rs)	157.78
Week's low (Rs)	142.94
Last week's ave. daily turnover (Rs cr)	53.23
Prev. week's ave. daily turnover (Rs cr)	112.94
Futures close	NT
Number of up/down move	4/1

 Even amidst the legal battle over cricket broadcasting rights, Zee Telefilms' stock held up strong, registering a gain of 4.7 per cent at the bourses.  Analysts seem to be pretty confident that the company will emerge unscathed out of this imbroglio. Two major foreign research houses recommended a buy on the stock last week with a one-year price target of over Rs 220. And they have considered that the broadcasting rights for the next four years will be with Zee.  Also, operators will not be able to ignore the Zee bouquet which will be complete with sports, movies, music and the original Zee TV once Zee launches the new sports channel.  Stock to watch
 

TATA MOTORS
Last week's close (Rs)	405.73
Prev. week's close (Rs)	395.58
Week's high (Rs)	407.60
Week's low (Rs)	383.10
Last week's ave. daily turnover (Rs cr)	229.16
Prev. week's ave. daily turnover (Rs cr)	224.24
Futures close September-2004 (Rs)	406.80
Futures close October-2004 (Rs)	409.55
Futures close November-2004 (Rs)	0.00
Number of up/down move	2/3

 Tata Motors is likely to be in focus after the company announced last week that it expects to list its American Depository Receipts (ADRs) on the New York Stock Exchange by the end of this month.  Tata Motors' ADR listing would be by way of conversion of its outstanding Global Depositary Receipts (GDRs) into ADRs, which means there will be no fresh issue of funds. On Tuesday, Tata Motors unveiled its new car, Indigo Marina.  The company expects to sell 4,000-6,000 units of Indigo Marina a year despite poor sales of similar models by rivals. Marina has been positioned as a premium every-day car, with added convenience.  Tata Motors reported strong vehicle sales for August. The company's total vehicle sales rose 21 per cent to 30,113 units, taking sales in the April-August period to 145,088 units.  ZEE TELEFILMS
The stock gained 4.78 per cent last week to close at Rs 156.60.  Stock of the week
 

MTNL
Last week's close (Rs)	128.05
Prev. week's close (Rs)	119.53
Week's high (Rs)	129.88
Week's low (Rs)	118.93
Last week's ave. daily turnover (Rs cr)	46.82
Prev. week's ave. daily turnover (Rs cr)	18.96
Futures close September-2004 (Rs)	128.60
Futures close October-2004 (Rs)	129.75
Futures close November-2004 (Rs)	0.00
Number of up/down move	4/1

 MTNL gained 7.13 per cent last week to close at Rs 128.05. Dealers said the scrip gained momentum after Union Communications Minister Dayanidhi Maran said the government plans to appoint investment bankers to advise it on synergising the operations of state-run telecom majors, MTNL and BSNL.  However, the scrip lost ground on Friday, after the company announced on Thursday that STD rates were being slashed for subscribers in Delhi and Mumbai.  With effect from October 2, 2004, fixed line STD calls between the two metros would be charged at Rs 1.90 per minute. Last week, MTNL announced a cut in STD tariffs for all STD calls to a flat Rs 2.40 per minute.  ITC
The tobacco scrip continued to rise, gaining 6.31 per cent to close at Rs 1174.10.  Mid-cap mover
 

IND SWIFT LABS
Last week's close (Rs)	71.00
Prev. week's close (Rs)	58.50
Week's high (Rs)	75.40
Week's low (Rs)	58.50
Last week's ave. daily turnover (Rs cr)	16.00
Prev. week's ave. daily turnover (Rs cr)	4.51
Futures close	NT
Number of up/down move	3/2

 Ind Swift Laboratories gained 21.37 per cent last week to close at Rs 71. The company, part of the Rs 450 crore Ind Swift group, has entered into contract research agreements worth $3.5 million with two European pharma majors for two different molecules.  It has also bagged the rights to launch one of these molecules in the US markets and will be entitled to royalty payments in the case of the other molecule.  The tie-up would ensure a smooth entry for the company's products in the regulated markets.  The agreements will involve research work for molecules with a global market of over $8 billion. The company expects a profit contribution of 40-45 per cent from research activities over the next two-three years.  SUBEX SYSTEMS
The stock moved up 4.77 per cent before closing at Rs 345.80.  Small-cap mover
 

SAREGAMA INDIA
Last week's close (Rs)	70.60
Prev. week's close (Rs)	61.53
Week's high (Rs)	76.70
Week's low (Rs)	60.83
Last week's ave. daily turnover (Rs cr)	2.19
Prev. week's ave. daily turnover (Rs cr)	0.18
Futures close	NT
Number of up/down move	2/3

 Saregama India advanced 14.74 per cent last week before settling at Rs 70.60. The upsides followed reports that the company had signed a deal with Paramount Studio to distribute their home videos in India.  Saregama has also signed on to Microsoft's online music platform MSN Music. The company is betting big on the home video segment, which is growing by leaps and bounds.  The market size is estimated to be Rs 100 crore and this could double this fiscal. Apart from the tie-up with Paramount, the company has four other overseas studios - Universal, BBC, Mira Max and Warner.  It is also getting into film production through subsidiary, Saregama Films. Its maiden venture, Tumsa Nahin Dekha, will be released soon.  AFT INDUSTRIES
The scrip was down 5.96 per cent last week to end at Rs 101.