| |
| The 30-share BSE Sensex climbed above the psychological 5,000 mark on Friday as sustained buying propped up stocks. |
| |
| The Sensex closed last week 206.28 points higher at 5044.82, while the broader Nifty climbed up 74.55 points to end the week at 1615.25. The week had opened on a damp note as selling in frontline stocks dragged the markets down. |
| |
| The markets bounced back on Tuesday following impressive gains by technology stocks and the announcement of a cease-fire on the LOC between India and Pakistan. Hectic buying by foreign funds and operators gave a fillip to the markets on Thursday. |
| |
| The momentum was carried over to the last session of the week, as buying continued following the expiry of November series contracts on Thursday. The market remained closed on Wednesday on account of Ramzaan. |
| |
| RELIANCE INDUSTRIES |
| |
| Last week's close (Rs) 487.48 |
| |
| Prev. week's close (Rs) 459.98 |
| |
| Week's high (Rs) 489.83 |
| |
| Week's low (Rs) 454.05 |
| |
| Last week's ave. daily turnover (Rs cr) 362.07 |
| |
| Prev. week's ave. daily turnover (Rs cr) 343.52 |
| |
| Futures close Dec-2003 (Rs) 0.00 |
| |
| Futures close Jan-2004 (Rs) 494.00 |
| |
| Futures close Feb-2004 (Rs) 0.00 |
| |
| Number of up/down moves 3/1 |
| |
| Reliance Industries saw hectic action throughout last week, as both foreign and domestic investors bought the stock. |
| |
| According to market watchers, investors are expecting a review of estimates of reserves in the gas fields owned by Reliance. |
| |
| The counter had witnessed selling the previous week, after the company's partner Niko Resources said its largest gas field off the east coast holds lesser reserves than earlier estimations. |
| |
| Analyst expect the estimate to be revised upwards again. According to reports, the company's telecom arm Reliance Infocomm is planning to withdraw its Dhirubhai Ambani Pioneer Scheme. |
| |
| According to Vijay Bhambwani, CEO of personal finance advisory firm, BSPLIndia.com, the stock seems to be headed to the Rs 496 mark. "On the downside, the scrip has support at Rs 471 levels," he adds. |
| |
| L&T |
| |
| Last week's close (Rs) 401.35 |
| |
| Prev. week's close (Rs) 365.00 |
| |
| Week's high (Rs) 402.68 |
| |
| Week's low (Rs) 364.63 |
| |
| Last week's ave. daily turnover (Rs cr) 48.61 |
| |
| Prev. week's ave. daily turnover (Rs cr) 56.70 |
| |
| Futures close Dec-2003 (Rs) 0.00 |
| |
| Futures close Jan-2004 (Rs) 400.00 |
| |
| Futures close Feb-2004 (Rs) 0.00 |
| |
| Number of up/down moves 4/0 |
| |
| Larsen & Toubro witnessed interest last week on reports that its demerger initiatives are gaining momentum. Market rumours also have it that L&T's demerger scheme had been cleared by stock exchanges and would be sent to the Bombay High Court for approval. |
| |
| The company also confirmed last week that the Bhel-L&T consortium had been awarded a contract for 2x50 MW hydro electric project at Kuttiyadi in Kerala. The total value of the contract is Rs 168 crore, out of which L&T`s portion would be Rs 86 crore. |
| |
| "The scrip should be finding resistance at the Rs 403-404 levels. If it manages to cross that the scrip can go up to Rs 412 level," says Bhambwani. |
| |
| RANBAXY |
| |
| Last week's close (Rs) 1022.15 |
| |
| Prev. week's close (Rs) 976.90 |
| |
| Week's high (Rs) 1041.50 |
| |
| Week's low (Rs) 980.00 |
| |
| Last week's ave. daily turnover (Rs cr) 63.60 |
| |
| Prev. week's ave. daily turnover (Rs cr) 54.57 |
| |
| Futures close Dec-2003 (Rs) 0.00 |
| |
| Futures close Jan-2004 (Rs) 1039.65 |
| |
| Futures close Feb-2004 (Rs) 0.00 |
| |
| Number of up/down moves 3/1 |
| |
| Ranbaxy was in action last week on a generally good week for pharma stocks. According to reports, the company is planning to set up a research and manufacturing unit in Hyderabad. |
| |
| Though the details of the project are yet to be finalised, the company recently signed a pact with the state government in this regard, and the size of the investment is likely to be significant. |
| |
| Ranbaxy is expecting the US market to generate a turnover of $1 billion for the company by 2007-08, of which 20 per cent would come from specialty products. |
| |
| "For Ranbaxy, Rs 1,050 levels should signify a resistance in the near-term. However, if it crosses those levels, it can go up to 1085," says Bhambwani. |
| |
| GRASIM |
| |
| Last week's close (Rs) 899.38 |
| |
| Prev. week's close (Rs) 852.63 |
| |
| Week's high (Rs) 904.88 |
| |
| Week's low (Rs) 841.25 |
| |
| Last week's ave. daily turnover (Rs cr) 32.67 |
| |
| Prev. week's ave. daily turnover (Rs cr) 66.47 |
| |
| Futures close Dec-2003 (Rs) 0.00 |
| |
| Futures close Jan-2004 (Rs) 930.00 |
| |
| Futures close Feb-2004 (Rs) 0.00 |
| |
| Number of up/down moves 4/0 |
| |
| Grasim witnessed a spurt at the bourses on the back of reports that cement manufacturers in the south had hiked prices by Rs 10 per bag. Shares of the company started its rise on Tuesday, closing 2.3 per cent higher on the BSE. |
| |
| For the week, the scrip gained by almost 5.5 per cent over its previous weekly close. The news of the price hike was viewed as a big positive, especially after a Rs 30 per bag raise made by the company less than two weeks ago. |
| |
| The company is the largest cement maker in India following the acquisition of L&T's cement division. |
| |
| SCI |
| |
| Last week's close (Rs) 167.48 |
| |
| Prev. week's close (Rs) 150.90 |
| |
| Week's high (Rs) 172.78 |
| |
| Week's low (Rs) 147.23 |
| |
| Last week's ave. daily turnover (Rs cr) 78.37 |
| |
| Prev. week's ave. daily turnover (Rs cr) 57.00 |
| |
| Futures close NT |
| |
| Number of up/down moves 2/2 |
| |
| Shipping Corporation of India had a great week at the bourses on fresh news of the government being all set to divest its stake in the company shortly. The scrip rose by 10.93 per cent from its previous weekly close. |
| |
| The company's annual report for 2002-03 states, "as most of the work relating to the data room and transaction documents having reached the final stage, it is expected that the process of disinvestment would be completed shortly". |
| |
| The report further states that the BPCL-KRL combine, along with HPCL, has continued to opt for crude transportation through SCI. |
| |
| The indicative annual crude sourcing plan for BPCL-KRL combine is expected to be 10 million metric tonnes (mmt) and for HPCL 7.2 mmt for fiscal year 2003-04. For fiscal year 2002-03, SCI carried 14.3 mmt for BPCL and HPCL. |
| |
| TATA MOTORS |
| |
| Last week's close (Rs) 408.73 |
| |
| Prev. week's close (Rs) 387.05 |
| |
| Week's high (Rs) 413.95 |
| |
| Week's low (Rs) 388.10 |
| |
| Last week's ave. daily turnover (Rs cr) 463.64 |
| |
| Prev. week's ave. daily turnover (Rs cr) 409.49 |
| |
| Futures close NT |
| |
| Number of up/down moves 3/1 |
| |
| Tata Motors revved up at the bourses and gained 5.65 per cent over its previous weekly close. |
| |
| Reports that the company is preparing to give its utility vehicles - Sumo and Safari - a facelift to take on rival Mahindra & Mahindra's Bolero and the new-look Scorpio kept the stock buoyant. |
| |
| Sumo and Safari have been doing well in the utility vehicles segment with sales of 14,000 units in the first half of 2003, a 23 per cent growth when compared with the corresponding period of the previous year. |
| |
| The company has also been planning acquisitions in the Chinese passenger car and CV segment. It says the move is aimed at grabbing a piece of the booming Chinese automobile market and is part of the company's overseas growth strategy. |
| |
| According to the company, international business would account for 20-25 per cent of Tata Motors' global revenues in the next three-four years, against the current contribution of 6-7 per cent. |
| |
| HCL TECH |
| |
| Last week's close (Rs) 269.43 |
| |
| Prev. week's close (Rs) 252.53 |
| |
| Week's high (Rs) 279.68 |
| |
| Week's low (Rs) 247.05 |
| |
| Last week's ave. daily turnover (Rs cr) 89.89 |
| |
| Prev. week's ave. daily turnover (Rs cr) 55.95 |
| |
| Futures close NT |
| |
| Number of up/down moves 3/1 |
| |
| HCL Tech was upbeat at the bourses last week, gaining 6.72 per cent over its previous close. |
| |
| The company had recently announced that it has stepped up its engagement with LOMA, an international insurance research organisation for professional development, to enhance its already significant insurance practice. |
| |
| The engagement would give HCL Tech access to LOMA's latest industry research, publications, and training/certification programmes to facilitate the growth of domain skills, enabling it to offer highly focused software solutions for the insurance industry. |
| |
| The company's board has recently approved the amalgamation of HCL Technologies BPO Services Ltd and HCL Technologies (Mumbai) Ltd, wholly owned subsidiaries of the company, with the company. |
| |
| Stock of the week |
| |
| RUCHI SOYA |
| |
| Last week's close (Rs) 90.23 |
| |
| Prev. week's close (Rs) 62.43 |
| |
| Week's high (Rs) 92.95 |
| |
| Week's low (Rs) 63.28 |
| |
| Last week's ave. daily turnover (Rs cr) 1.22 |
| |
| Prev. week's ave. daily turnover (Rs cr) 0.15 |
| |
| Futures close NT |
| |
| Number of up/down moves 4/0 |
| |
| Ruchi Soya, the soya extraction major which owns soya nuggets brand Nutrela, witnessed a massive rally last week at the bourses. The scrip gained a whopping 45 per cent. |
| |
| Volumes also saw a huge surge as the counter increased by 573.33 per cent. The soya sector has been gaining constantly on export potential. |
| |
| It is estimated that more than 2.5 million tonnes of soya may be exported this year against 1.3 million tonnes last year. The scrip has attracted investor interest because of improved product prices in the overseas market. The increase in prices has been attributed to the soya crop failure in the US. |
| |
| RECAP: KEC INTERNATIONAL |
| |
| The stock continued its good run to close at Rs 75.35, up 5.61 per cent from its previous weekend close. |
| |
| Stock to watch |
| |
| STERLITE INDUSTRIES |
| |
| Last week's close (Rs) 1574.85 |
| |
| Prev. week's close (Rs) 1359.85 |
| |
| Week's high (Rs) 1630.00 |
| |
| Week's low (Rs) 1350.00 |
| |
| Last week's ave. daily turnover (Rs cr) 30.27 |
| |
| Prev. week's ave. daily turnover (Rs cr) 8.59 |
| |
| Futures close NT |
| |
| Number of up/down moves 3/1 |
| |
| Sterlite Industries hit a 52-week high last week. According to market sources, the counter is attracting buying interest on the back of a firming up of metal prices. |
| |
| The scrip has also been in the focus of late because of the scheduled listing of group holding company Vedanta Resources on the London Stock Exchange in December 2003. |
| |
| Vedanta Resources plans to raise around $700 million by listing its shares in London to fund expansion plans. Vedanta Resources is a holding company of the Agarwal Group and has a controlling stake in Sterlite Industries. |
| |
| According to Vijay Bhambwani, the counter is highly speculative. "Since there is no historical resistance it is hard to say where the scrip is headed to. It looks like a speculator-driven scrip and I would advise investors to exercise caution," he adds. |
| |
| RECAP: JYOTI STRUCTURES |
| |
| The stock hit a 52-week high on November 25, before profit booking dragged the scrip down to close at Rs 100.85. |
| |
| Mid-cap mover |
| |
| MOTHERSON SUMI SYSTEMS |
| |
| Last week's close (Rs) 271.70 |
| |
| Prev. week's close (Rs) 243.30 |
| |
| Week's high (Rs) 294.00 |
| |
| Week's low (Rs) 249.33 |
| |
| Last week's ave. daily turnover (Rs cr) 0.94 |
| |
| Prev. week's ave. daily turnover (Rs cr) 1.16 |
| |
| Futures close NT |
| |
| Number of up/down moves 2/2 |
| |
| Motherson Sumi Systems witnessed a run up on the bourses last week with a healthy outlook for the sector. |
| |
| The auto ancillary stock gained 10.42 per cent though volumes on the counter dipped by 7.76 per cent. The scrip has been seeing some buying for the past two quarters on the back of good results. |
| |
| The news of outsourcing opportunities from India has also led to the rise in prices. Exports of auto ancillaries grew 40 per cent last year and are expected to be more than that in the current year. |
| |
| Major automobile companies like Ford, GM, Hyundai and Volkswagen are looking at India for outsourcing auto ancillaries which has improved future prospects for the sector. |
| |
| RECAP: CRANES SOFTWARE |
| |
| The counter continued to witness hectic activity to close 8.22 per cent higher at Rs 322.50. |
| |
| Small-cap mover |
| |
| PETRON ENGINEERING |
| |
| Last week's close (Rs) 62.98 |
| |
| Prev. week's close (Rs) 55.65 |
| |
| Week's high (Rs) 67.65 |
| |
| Week's low (Rs) 56.00 |
| |
| Last week's ave. daily turnover (Rs cr) 0.64 |
| |
| Prev. week's ave. daily turnover (Rs cr) 0.76 |
| |
| Futures close NT |
| |
| Number of up/down moves 3/1 |
| |
| Petron Engineering surged at the bourses last week and recorded a 52-week high. The scrip, which gained in the recent past on good buying interests, surged 13.21 per cent on reports of new orders. |
| |
| Volumes, however, registered a sharp decline of 51.32 per cent. The company recently bagged an overseas contract worth Rs 135 crore. |
| |
| Petron signed a contract on November 15, 2003, with Dangote Industries, Nigeria, for erecting a grassroots cement plant for Obajana Cement at Obajana, Nigeria, for $26 million (Rs 135 crore). |
| |
| RECAP: BOMBAY BURMAH |
| |
| The scrip hit a 52-week high last week before climbing down to close at Rs 72. |
| |
Week
|
