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| The 30-share BSE Sensex closed at 4305.91, a loss of 63.26 points over the previous week. The broader Nifty lost 25.30 points to close at 1397.40. |
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| The week started off on a positive note with the Sensex gaining 65 points on the back of excellent buying support across sectors. |
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| However, profit-booking returned to the bourses mid-week with losses in heavyweight scrips keeping the indices under pressure. Late buying propped up markets to an extent mid-week though the results were mixed. |
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| Further unwinding of positions on the second anniversary of 9/11 led to more bleeding on Thursday. The trend continued during the last session of the week. |
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| WIPRO |
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| Last week's close (Rs) 1188.65 |
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| Prev. week's close (Rs) 1246.70 |
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| Week's high (Rs) 1344.00 |
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| Week's low (Rs) 1180.05 |
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| Last week's ave. daily turnover (Rs cr) 169.31 |
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| Prev. week's ave. daily turnover (Rs cr) 134.95 |
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| Futures close NT |
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| Number of up/down moves 2/3 |
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| Wipro was a loser on the bourses last week, declining 4.7 per cent compared to its previous weekly close. The average daily turnover in the scrip jumped 25 per cent over its normal daily average turnover. |
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| Wipro chairman Azim Premji recently said that the company plans to raise its payroll strength by almost 40 per cent, or 9,000, during the current financial year. |
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| Of these, 3,000 recruits will be for Wipro Spectramind, which Wipro took control of last financial year. Spectramind, earlier owned by Raman Roy, is now wholly owned by Wipro. |
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| On Thursday, Wipro Technologies, the global IT services division of Wipro, announced the successful execution of the supply chain project of an end-to-end SAP implementation for SANYO's mobile energy supply chain project, covering eight locations across five countries. |
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| This, the company claims, is the first time an IT services firm undertook such a complex, large-scale project. |
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| The project is crucial since Wipro bagged it against strong competition from one of the top five global IT services companies that was SANYO's partner for its previous SAP implementation project. |
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| HCL TECHNOLOGIES |
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| Last week's close (Rs) 197.78 |
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| Prev. week's close (Rs) 211.78 |
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| Week's high (Rs) 228.15 |
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| Week's low (Rs) 194.05 |
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| Last week's ave. daily turnover (Rs cr) 63.85 |
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| Prev. week's ave. daily turnover (Rs cr) 63.62 |
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| Futures close NT |
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| Number of up/down moves 1/4 |
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| HCL Technologies slipped 6.6 per cent on the bourses compared to its previous weekly close. The company declared its fourth-quarter results on Friday, wherein it clocked a net profit of Rs 101 crore, 11.34 per cent higher compared to Rs 90.71 crore last year. |
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| The company's total income has risen from Rs 208.90 crore in the June quarter of 2002 to Rs 283.69 crore in the June quarter of 2003. |
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| Meanwhile, for the fiscal ended June 30, 2003, HCL Technologies has posted a net profit of Rs 312.47 crore, which is 22.26 per cent lower against a net profit of Rs 401.95 crore posted in the fiscal ended June 30, 2002. |
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| Its total income has increased from Rs 856.56 crore in the fiscal 2001-02 to Rs 971.31 crore in the fiscal. The company's board has recommended final dividend of Rs 2 per equity share for the year ended June 30, 2003. |
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| The HCL Technologies board is considering a proposal for merger of HCL Technologies BPO Services Ltd and HCL Technologies Mumbai Ltd - its wholly-owned subsidiaries - with itself. A further decision on this matter will be taken later. |
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| INFOSYS |
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| Last week's close (Rs) 4156.30 |
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| Prev. week's close (Rs) 4201.63 |
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| Week's high (Rs) 4525.35 |
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| Week's low (Rs) 4137.55 |
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| Last week's ave. daily turnover (Rs cr) 556.29 |
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| Prev. week's ave. daily turnover (Rs cr) 527.91 |
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| Futures close NT |
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| Number of up/down moves 2/3 |
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| Infosys Technologies snapped its winning run at the bourses on Wednesday, dipping 4.62 per cent to Rs 4,280 at the BSE, clocking volumes of around 1.75 lakh shares. |
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| The Infosys counter has been in the thick of action of late on the back of a rising Nasdaq. The index on Monday scaled a one-and-a-half-year high on fresh hopes of economic and corporate rebound in the US. |
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| Shares of the company, however, closed marginally lower, down 1.08 per cent from its previous weekly close. |
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| On Monday, the company announced that it bagged a $75-million order from Telstra, which would be executed over a period of five years. |
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| Although the company later informed the BSE that it has not issued any press release with respect to the news, it confirms having won a $50-million contract from the Australia-based firm. |
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| SATYAM |
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| Last week's close (Rs) 236.70 |
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| Prev. week's close (Rs) 252.65 |
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| Week's high (Rs) 264.50 |
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| Week's low (Rs) 233.35 |
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| Last week's ave. daily turnover (Rs cr) 626.53 |
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| Prev. week's ave. daily turnover (Rs cr) 496.43 |
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| Futures close NT |
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| Number of up/down moves 2/3 |
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| The tech slippage spread to Satyam Computer, too, which fell 6.3 per cent compared to its previous weekly close. |
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| On Friday, the company announced the launch of an offshore development centre (ODC) in Bangalore, which will provide high-end product development support to Fujitsu Ltd, a leading provider of customers focused IT and communication solutions for the global marketplace. |
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| The ODC has been set up in one of the most modern and hi-tech campuses of Satyam at Bangalore. |
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| MAHINDRA & MAHINDRA |
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| Last week's close (Rs) 211.08 |
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| Prev. week's close (Rs) 200.95 |
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| Week's high (Rs) 221.28 |
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| Week's low (Rs) 200.23 |
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| Last week's ave. daily turnover (Rs cr) 64.78 |
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| Prev. week's ave. daily turnover (Rs cr) 40.86 |
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| Futures close NT |
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| Number of up/down moves 3/2 |
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| Mahindra & Mahindra gained over 5 per cent last week compared to its previous weekly close. The average daily turnover in the scrip jumped over 58 per cent compared to its normal daily average turnover. |
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| The company had recently signed a pact with Canara Bank to provide loan facilities to farmers willing to buy the company's tractors and other farm implements. |
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| As per the pact, the bank would be the preferred financier for M&M tractors in UP, Karnataka, Andhra Pradesh, Tamil Nadu, Jammu & Kashmir, Haryana and Himachal Pradesh. The bank would offer loans at reduced spreads with a tenure of five to nine years. |
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| SHIPPING CORP |
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| Last week's close (Rs) 106.63 |
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| Prev. week's close (Rs) 101.60 |
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| Week's high (Rs) 111.85 |
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| Week's low (Rs) 101.25 |
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| Last week's ave. daily turnover (Rs cr) 24.55 |
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| Prev. week's ave. daily turnover (Rs cr) 24.47 |
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| Futures close NT |
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| Number of up/down moves 3/2 |
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| Shipping Corporation of India rose 4.95 per cent on expectations that the company will announce a good interim dividend. |
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| The company has fixed October 10, 2003 as record date for the purpose of consideration of the interim dividend. |
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| SCI was back in action in the first quarter ended June 30, 2003, recording a net profit of Rs Rs 150.25 crore, compared to the net loss of Rs 5.93 crore for the corresponding quarter last year. |
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| SCI's total income increased to Rs 784.91 crore in the June quarter of 2003 from Rs 530.48 crore in the corresponding quarter of 2002. Market analysts expect the stock to reach levels of Rs 120 or more in the coming weeks. |
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| LARSEN & TOUBRO |
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| Last week's close (Rs) 301.05 |
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| Prev. week's close (Rs) 289.40 |
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| Week's high (Rs) 311.73 |
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| Week's low (Rs) 290.78 |
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| Last week's ave. daily turnover (Rs cr) 65.26 |
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| Prev. week's ave. daily turnover (Rs cr) 69.23 |
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| Futures close NT |
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| Number of up/down moves 3/2 |
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Larsen & Toubro recorded an increase of 4.02 per cent amidst news that the scheme of arrangement, under which its cement business is to be demerged, will be put up before its board of directors in two weeks
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