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| The broader Nifty ended at 1162.75, up 22.75 points. Fears of a slowdown in FII inflows led investors to book profits on Monday as the Sensex fell below the 3,600 mark. |
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| Unwinding of positions in the derivatives market led to further downsides on Tuesday. The markets bounced back on Wednesday, snapping a four-session slide, on the back of a rally in US markets and encouraging results from Indian corporates. |
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| The upsides continued for the rest of the week, with heavy buying in old economy and heavyweight scrips lifting the Sensex by 90 points on Friday. |
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TATA STEEL
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Last week's close (Rs) 197.70
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Prev. week's close (Rs) 197.00
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Week's high (Rs) 201.43
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Week's low (Rs) 183.13
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Last week's avg. daily turnover (Rs cr) 281.75
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Prev. week's avg. daily turnover (Rs cr) 219.56
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Futures close Jul-2003 (Rs) 198.30
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Futures close Aug-2003 (Rs) 199.95
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Futures close Sep-2003 (Rs) 0.00
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| Number of up/down moves 3/2 |
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| Tata Steel was in focus last week, as the company reported a 315.90 per cent jump in Q1 net profit. The company's net sales stood at Rs 2,257.1 crore for the quarter, a growth of 27.9 per cent over the corresponding quarter in the previous fiscal. |
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| Excluding the other income component, the company's operating profit increased 94.4 per cent to Rs 675.1 crore due to improved sales realisation. |
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| The domestic market contributed 83.7 per cent to Tata Steel turnover and reported a growth of 21.4 per cent, while exports contributed 16.3 per cent to the turnover and grew 76.1 per cent. |
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| Segment-wise, steel business contributed 87.4 per cent to the company's turnover in the June 2003 quarter and reported a growth of 22.6 per cent. |
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| Steel volumes increased by 6.5 per cent to 879,909 tonnes, while sales realisation increased by 15.2 per cent. The scrip moved up 0.35 per cent during last week to close at Rs 197.70. |
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| The stock has been witnessing hectic activity in the cash as well as derivatives segments. According to analysts, Tisco's stock seems fairly valued in the immediate term. |
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HINDUSTAN LEVER
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Last week's close (Rs) 169.65
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Prev. week's close (Rs) 152.43
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Week's high (Rs) 170.25
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Weeks low (Rs) 143.58
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Last week's avg. daily turnover (Rs cr) 58.01
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Prev. week's avg. daily turnover (Rs cr) 38.56
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Futures close Jul-2003 (Rs) 169.50
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Futures close Aug-2003 (Rs) 168.55
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Futures close Sep-2003 (Rs) 0.00
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| Number of up/down moves 4/1 |
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| HLL rose 11.33 per cent to close at Rs 169.65 amidst value buying on the bourses. The stock had suffered a severe price fall after three major investment banks Merrill Lynch, Goldman Sachs and UBS Warburg recommended a 'sell'. |
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| The negative sentiment was mainly because of pricing pressures and declining margins. There was some concern over excessive valuation of the stock. |
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| HLL attracted some value buying from investors after touching low levels at Rs 150. Whether or not this correction is sustainable is a question. Volumes soared 50.44 per cent last week with some heavy buying. |
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ZEE TELEFILMS
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Last week's close (Rs) 115.68
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Prev. week close (Rs) 108.60
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Week's high (Rs) 123.63
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Week's low (Rs) 107.15
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Last week's avg. daily turnover (Rs cr) 154.78
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Prev. week's avg. daily turnover (Rs cr) 123.80
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Futures close NT
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| Number of up/down moves 2/3 |
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| Zee Telefilms was in the limelight last week and ended 6.5 per cent higher compared to its previous week's close. |
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| The promoters of Essel group placed 12,375,000 shares, or 3 per cent of the equity share capital of Zee Telefilms, out of their personal holding with foreign institutional investors. The proceeds from the stake sale will be used to pay dues to both Zee and Essel Propack. |
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| Dealers attribute the rise at the counter to be the result of the government deciding to go ahead with the CAS zonal rollout from September. The uplinking controversy in its nearest competitor Star News also seemed to have benefited the scrip. |
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RELIANCE INDUSTRIES
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Last week's close (Rs) 349.23
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Prev. week's close (Rs) 339.20
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Week's high (Rs) 351.15
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Week's low (Rs) 327.45
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Last week's avg. daily turnover (Rs cr) 263.41
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Prev. week's avg. daily turnover (Rs cr) 279.43
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Futures close Jul-2003 (Rs) 350.10
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Futures close Aug-2003 (Rs) 352.50
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Futures close Sep-2003 (Rs) 0.00
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| Numbers of up/down moves 2/3 |
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| Reliance Industries hit a 52-week high of Rs 349.80 on Friday with good buying support. The stock ended 3 per cent higher from its previous weekly close. |
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| Reliance emerged as the 'most admired business house' for the third consecutive year in 'Business Barons - TNS Mode Opinion Poll' for 2003. Reliance was ranked number one in management quality, financial performance and returns to shareholders; the major parameters under which the most admired business houses were judged. |
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| The company had raised the production of liquefied petroleum gas (LPG) at its Jamanagar refinery by 300 tonnes from 6,700 tonnes to 7,000 tonnes in early June. |
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| Reliance had also announced a voluntary retirement scheme (VRS) for its permanent employees at the Naroda unit in Gujarat on Friday. |
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DABUR
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Last week's close (Rs) 54.25
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Prev. week's close (Rs) 51.45
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Week's high (Rs) 54.83
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Week's low (Rs) 50.00
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Last week's avg. daily turnover (Rs cr) 2.18
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Prev. week's avg. daily turnover (Rs cr) 1.83
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Futures close NT
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| Number of up/down moves 3/2 |
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| Dabur India rose 5.44 per cent last week compared to its previous weekly close. The scrip rose 4.2 per cent on Thursday after declaring its results, clocking combined volumes of around 8.2 lakh shares. |
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| The company posted a 36 per cent jump in its net profit to Rs 15.64 crore for the first quarter ended June 30, 2003, compared to Rs 11.5 crore in the corresponding quarter last fiscal. |
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| The company's board, on Wednesday, approved the proposal to acquire the entire equity share capital of UK-based FMCG player Redrock Ltd for $5 million. |
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| Redrock is engaged in the business of manufacture and sale, including export of various cosmetics, toiletries and healthcare products. It operates in the west Asian region. |
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RANBAXY
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Last week's close (Rs) 812.73
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Prev. week close (Rs) 833.55
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Week's high (Rs) 839.23
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Week's low (Rs) 781.00
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Last week's avg. daily turnover (Rs cr) 103.19
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Prev. week's avg. daily turnover (Rs cr) 58.90
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Futures close Jul-2003 (Rs) 815.45
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Futures close Aug-2003 (Rs) 821.30
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Futures close Sep-2003 (Rs) 0.00
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| Number of up/down moves 2/3 |
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| Ranbaxy slipped on the bourses and ended 2.5 per cent lower compared to its previous weekly close. The stock had been trading weak ahead of its second-quarter numbers and remained depressed even after an upward revision in the company's revenue guidance. |
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| On a consolidated basis, the company expects revenues to grow to $940 million for the current fiscal from $900 million. |
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| It has recorded net consolidated sales of $473 million in the first half, a growth of 36 per cent. The company has also set a target of achieving a $1 billion turnover by 2004. |
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| However, analysts expect competition in the US markets for Ranbaxy's Ceftin to be a cause of concern going ahead. |
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ACC
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Last week's close (Rs) 178.50
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Prev. week's close (Rs) 174.45
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Week's high (Rs) 179.33
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Week's low (Rs) 162.90
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Last week's avg. daily turnover (Rs cr) 39.57
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Prev. week's avg. daily turnover (Rs cr) 35.54
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Futures close Jul-2003 (Rs) 178.90
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Futures close Aug-2003 (Rs) 180.00
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Futures close Sep-2003 (Rs) 0.00
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| Number of up/down moves 2/3 |
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| ACC closed 3.68 per cent higher on Thursday. The scrip was buoyed by its first quarter-numbers which showed the company's net profit double |
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| to Rs 44.14 crore. The scrip held on to its gains and ended the week with a 2.3 per cent gain compared to its previous weekly close. |
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| ACC posted a net profit of Rs 44.14 crore for the first quarter ended June 30, 2003, compared to a net profit of Rs 19.84 crore in the first quarter ended June 30, 2002. |
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| Total income of the cement major increased from Rs 761.64 crore in the |
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| June quarter of 2002 to Rs 824.03 crore in the June quarter of 2003. |
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| Stock of the week |
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SATYAM COMPUTER
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Last week's close (Rs) 193.20
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Previous week's close (Rs) 173.38
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Week's high (Rs) 195.20
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Week's low (Rs) 161.40
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Last week's avg. daily turnover (Rs cr) 393.44
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Prev. week's avg. daily turnover (Rs cr) 238.19
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Futures close Jul-2003 (Rs) 193.20
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Futures close Aug-2003 (Rs) 193.50
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Futures close Sep-2003 (Rs) 0.00
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| Number of up/down moves 3/2 |
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| Satyam was in the limelight after its shares started the week on a subdued note. The stock came back strongly on Tuesday after the RBI said that foreign funds could buy up to 60 per cent of the paid-up equity capital of Satyam. |
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Satyam
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