| Number of up/down move | 1/4 |
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| The steel major lost out at the bourses last week along with other big steel scrips that were down as UBS, a major investment bank, downgraded the sector globally. |
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| The downgrade was on concerns of rising steel exports by China. The rise can depress the metal's prices across the board worldwide. |
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SAIL's scrip was down 3.8 per cent and remained subdued in the market without much movement. Volumes at the counter were down 22 per cent. Over capacity in the domestic market could further drive up prices in the medium term, feel analysts.
| SBI | | Last week's close (Rs) | 595.15 | | Prev. week's close (Rs) | 577.38 | | Week's high (Rs) | 654.00 | | Week's low (Rs) | 535.08 | | Last week's ave. daily turnover (Rs cr) | 382.57 | | Prev. week's ave. daily turnover (Rs cr) | 327.09 | | Futures close December-2004 (Rs) | 597.50 | | Futures close January-2005 (Rs) | 601.05 | | Futures close February-2005 (Rs) | 0.00 | | Number of up/down move | 2/3 |
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| SBI was in for some aggressive spotting by funds and FIIs. Investors rushed to the counter after the Reserve Bank of India (RBI) permitted FIIs to buy more shares of the bank as their stake is currently below 20 per cent (FIIs are allowed to hold 20 per cent in public sector banks). |
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The stock climbed over 3 per cent last week as volumes increased 17 per cent. The stock looks attractive at current valuations with the possible surge in credit offtake and economic activity.
| RANBAXY | | Last week's close (Rs) | 1,198.28 | | Prev. week's close (Rs) | 1161.05 | | Week's high (Rs) | 1226.50 | | Week's low (Rs) | 1170.05 | | Last week's ave. daily turnover (Rs cr) | 113.70 | | Prev. week's ave. daily turnover (Rs cr) | 80.03 | | Futures close December-2004 (Rs) | 1193.45 | | Futures close January-2005 (Rs) | 1200.00 | | Futures close February-2005 (Rs) | 0.00 | | Number of up/down move | 2/3 |
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| Ranbaxy was another gainer last week amid a slew of positive news which saw the counter end the week with a 3.2 per cent gain over its previous weekly close. |
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| The weekly average turnover at the counter rose by 50 per cent. There were reports that the company is likely to post over 20 per cent growth in turnover for the year ending December 31, 2004. |
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| The company said it is open to the idea of acquiring a drug maker in India, a brand in the US and a generic drug company in Germany in the next two-three years. |
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It is expanding operations to Canada, Australia and Mexico while its drug manufacturing plant in Brazil is expected to come up next year.
| INDIAN HOTELS | | Last week's close (Rs) | 523.90 | | Prev. week's close (Rs) | 493.93 | | Week's high (Rs) | 534.75 | | Week's low (Rs) | 489.05 | | Last week's ave. daily turnover (Rs cr) | 3.47 | | Prev. week's ave. daily turnover (Rs cr) | 2.07 | | Futures close | NT | | Number of up/down move | 3/2 |
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| Indian Hotels was among the top gainers last week on positive news-flow which saw it end the week with a handsome 6.07 per cent gain over its previous weekly close. |
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| The weekly average turnover at the counter also reflected the trend, rising by 50 per cent over its previous week. The average occupancy of all the 60 hotels of Indian Hotels is likely to be 75 per cent for FY05 against 70 per cent last year. |
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| The average room tariff was also up 10 per cent year-on-year for the year due to the strong demand. The company said tariff rates are likely to come back to the peak levels of 2000-01. |
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| Stock of the week | RELIANCE ENERGY | | Last week's close (Rs) | 506.03 | | Prev. week's close (Rs) | 581.27 | | Week's high (Rs) | 584.45 | | Week's low (Rs) | 502.63 | | Last week's ave. daily turnover (Rs cr) | 39.89 | | Prev. week's ave. daily turnover (Rs cr) | 101.27 | | Futures close December-2004 (Rs) | 509.35 | | Futures close January-2005 (Rs) | 511.45 | | Futures close February-2005 (Rs) | 516.00 | | Number of up/down move | 0/5 |
The saga continues. Week after week Reliance stocks are being battered down at the bourses as the market seems to be expressing disconcert over 'ownership issues' among the Ambani siblings. Reliance Energy came shattering down last week to settle 13 per cent lower and bag the tag of the biggest loser in the Sensex. Marketmen were unhappy with reports regarding Reliance Energy's principal shareholders being kept in the dark about its board meeting where future growth plans were to be discussed. Reliance Energy refuted the allegations, saying that the 50 per cent stakeholder (Reliance Industries) was kept informed about the meeting. | HPCL
The counter was flat, ending 0.31 per cent below its previous weekly close. |
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| Stock to watch | BHARTI TELE-VENTURES | | Last week's close (Rs) | 188.13 | | Prev. week's close (Rs) | 185.73 | | Week's high (Rs) | 197.95 | | Week's low (Rs) | 175.70 | | Last week's ave. daily turnover (Rs cr) | 109.20 | | Prev. week's ave. daily turnover (Rs cr) | 129.37 | | Futures close | NT | | Number of up/down move | 2/3 |
The stock of the private telecom major is due to see some action at the bourses. The reason: foreign institutional investors can up their stake in the company (they are allowed to hold a maximum of 49 per cent). As the stake is lower than that limit now and FIIs are keen on increasing their stake, the stock is bound to see aggressive hunting. Last week the stock went up a meagre 1.3 per cent while volumes dipped 15.5 per cent. The stock encountered volatile movements of 13 per cent between its weekly high and low. It also hit its all-time high of Rs 198 on Thursday in intra-day trading sessions but came down on profit-booking. | HERO HONDA
The stock ended the week with a 1.29 per cent gain over its previous weekly close. |
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| Mid-cap mover | HINDUSTAN MOTORS | | Last week's close (Rs) | 17.30 | | Prev. week's close (Rs) | 15.63 | | Week's high (Rs) | 19.28 | | Week's low (Rs) | 15.53 | | Last week's ave. daily turnover (Rs cr) | 10.62 | | Prev. week's ave. daily turnover (Rs cr) | 3.70 | | Futures close | NT | | Number of up/down move | 3/1 |
Hindustan Motors spurted 10.7 per cent over its previous weekly close. The weekly average turnover at the counter zoomed by a whopping 175 per cent. Reports that the company is planning to hive off its engine and transmission business added fuel to the buying. Dealers say the counter has been witnessing renewed buying interest of late as the market was expecting the company to restructure its business. The stock has appreciated around 49 per cent from a low of Rs 14 on November 14, 2004. There were also rumours that the company is in the advanced stage of selling its property to a leading corporate house in Kolkata. | BANNARI AMMAN SUGARS
The scrip moved up 3 per cent over its previous weekly close. |
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| Small-cap mover | K SERA SERA | | Last week's close (Rs) | 123.65 | | Prev. week's close (Rs) | 133.65 | | Week's high (Rs) | 135.65 | | Week's low (Rs) | 122.00 | | Last week's ave. daily turnover (Rs cr) | 1.24 | | Prev. week's ave. daily turnover (Rs cr) | 1.75 | | Futures close | NT | | Number of up/down move | 0/5 |
K Sera Sera had a dismal week at the bourses in the course of which it lost 7.48 per cent over its previous weekly close. The weekly average turnover at the counter fell by 50 per cent. The company had entered into the film distribution business, acquiring the distribution rights for Arindham Choudhary's Rok Sako To Rok Lo (RSTRL), Rituparno Ghosh's Raincoat and the Shahid Kapur-starrer Dil Maange More. The company expects to earn Rs 36 crore through film distribution by the end of FY06. Dealers say the selling at the counter was prompted by concerns over the response RSTRL received. | VIDEOCON APPLIANCES
The scrip plummeted 20.93 per cent over its previous weekly close. |
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