Sensex touches all-time high

STOCK MONITOR

Number of up/down move4/1  SAIL closed the week at Rs 56.38, up 8.34 per cent from its previous weekend close. The current levels are its highest for nearly 10 years.  According to reports, the company has decided to increase the prices of various hot-rolled steel products. The net hike would be around Rs 500 to Rs 800 per tonne.  In November, 2004, it had hiked prices of long steel products by Rs 1,000 per tonne. However, in August, SAIL had cut prices by Rs 1,000 per tonne, following a Rs 2,000 per tonne price cut announced by Tata Steel. According to analysts, global steel prices are likely to hold firm in the near future. 
 

TATA STEEL
Last week's close (Rs)	327.35
Prev. week's close (Rs)	311.39
Week's high (Rs)	333.20
Week's low (Rs)	311.95
Last week's ave. daily turnover (Rs cr)	220.13
Prev. week's ave. daily turnover (Rs cr)	157.33
Futures close December-2004 (Rs)	329.35
Futures close January-2005 (Rs)	333.65
Futures close February-2005 (Rs)	0.00
Number of up/down move	4/1

 The steel scrip gained 5.13 per cent to close at Rs 327.35. The counter has been seeing a buying spree for the last few weeks with the stock rising from Rs 280 levels at the end of October to Rs 327.80 on December 1, its highest closing for 12 years.  The company increased steel prices by Rs 500-600 per tonne for retail customers to offset a rise in freight rates announced by the Indian Railways recently.  In August 2004, Tata Steel had cut prices by Rs 2,000 per tonne across all products. For Q2FY05, the company announced a 134 per cent rise in net profit to Rs 946.07 crore, on the back of a 43 per cent rise in sales at Rs 3,738.32 crore.
 

BHARTI TELE-VENTURES
Last week's close (Rs)	185.72
Prev. week's close (Rs)	167.60
Week's high (Rs)	190.00
Week's low (Rs)	166.03
Last week's ave. daily turnover (Rs cr)	129.37
Prev. week's ave. daily turnover (Rs cr)	55.04
Futures close	NT
Number of up/down move	4/1

 Bharti Tele was a huge gainer last week and closed at Rs 185.72 - a gain of 10.8 per cent over its previous weekly close.  Volumes at the counter were also impressive during the week with interest picking up from market talk that the cellular services major would report strong growth in subscription figures for November 2004.  Dealers say the figures for November subscription would be known in a day or two. The scrip has witnessed a sustained rise since early September 2004.  From a low of Rs 132.75 on September 9, 2004, it has swelled by 38 per cent in less than three months.  Analysts remain bullish on the counter given the prospects of a secular growth in cellular subscription in India in the years to come. 
 

MARUTI
Last week's close (Rs)	434.43
Prev. week's close (Rs)	398.08
Week's high (Rs)	435.95
Week's low (Rs)	396.60
Last week's ave. daily turnover (Rs cr)	317.16
Prev. week's ave. daily turnover (Rs cr)	136.02
Futures close December-2004 (Rs)	432.40
Futures close January-2005 (Rs)	432.75
Futures close February-2005 (Rs)	446.85
Number of up/down move	4/1

Maruti Udyog bounced nicely last week after falling nearly 3 per cent on Wednesday, following disappointing sales for November.  The scrip ended the week with a 9.13 per cent gain over its previous weekly close. The sharp drop in crude oil prices also aided the rebound at the counter.  The stock had bounced back by 11.2 per cent from a low of Rs 377.70 on November 22, 2004, in five trading sessions till November 30, 2004.  The company is planning to raise prices due to a rise in input costs and to meet costs of new emission standards from January 2005. It said consumer demand for its cars was strong and retail sales were robust last month due to the festival of Diwali.  

Stock of the week 

HPCL
Last week's close (Rs)	372.80
Prev. week's close (Rs)	335.50
Week's high (Rs)	389.50
Week's low (Rs)	330.20
Last week's ave. daily turnover (Rs cr)	104.63
Prev. week's ave. daily turnover (Rs cr)	24.67
Futures close December-2004 (Rs)	370.90
Futures close January-2005 (Rs)	373.05
Futures close February-2005 (Rs)	0.00
Number of up/down move	4/1

HPCL was a smart gainer at the bourses as oil prices witnessed a sharp fall for the second day in a row on Thursday. The scrip ended the week with a 11.12 per cent gain over its previous weekly close.

After Thursday's plunge in oil prices, big-money speculative funds and local traders in New York and London were known to have bailed out of oil, pulling prices $13 barrel below their all-time high in October.

Marketmen say the fall in global crude oil prices should provide some consolation to oil marketing companies.

According to analysts, even after the roll back, oil marketing companies are making profit on retail sale of petrol as domestic petrol prices are now linked to import parity prices. They are making profit on retail sale of diesel as well.

RELIANCE ENERGY
The scrip bounced back to close at Rs 581.27, up 5.84 per cent from its previous weekend close.

 

Stock to watch 

HERO HONDA
Last week's close (Rs)	474.88
Prev. week's close (Rs)	473.08
Week's high (Rs)	495.65
Week's low (Rs)	466.05
Last week's ave. daily turnover (Rs cr)	48.31
Prev. week's ave. daily turnover (Rs cr)	37.20
Futures close December-2004 (Rs)	477.35
Futures close January-2005 (Rs)	0.00
Futures close February-2005 (Rs)	0.00
Number of up/down move	4/1

Hero Honda is expected to be in focus after announcing an increase in sales for November. The scrip ended the week with a 0.38 per cent gain at Rs 474.88.

It jumped 12.2 per cent in four trading sessions from a low of Rs 439.05 on November 23. There were hopes that sales would have surged in November on huge festival sales on account of Diwali.

The bike major sold 2.35 lakh bikes in November - 15 per cent higher than sales of 2.04 lakh units in November 2003. Hero Honda plans to launch 125 cc variants of Splendour and Passion in the months to come.

It also proposes to launch a refurbished variant of its successful entry-level model, CD-Dawn. Dealers expect to see the effect of the buoyant sales in the next few trading sessions.

CADILA HEALTHCARE
The pharma scrip advanced marginally (up 0.20 per cent) to end the week at Rs 514.75.

 

Mid-cap mover 

BANNARI AMMAN SUGARS
Last week's close (Rs)	417.85
Prev. week's close (Rs)	382.28
Week's high (Rs)	422.45
Week's low (Rs)	368.50
Last week's ave. daily turnover (Rs cr)	0.91
Prev. week's ave. daily turnover (Rs cr)	0.63
Futures close	NT
Number of up/down move	3/2

The sugar scrip gained on the back of a broad market rally. The stock advanced 9.30 per cent last week to close at Rs 417.85. Sugar prices have been holding firm on the back of sustained demand from retailers and the lower free-sale quota announced by the government.

According to analysts, the outlook for sugar prices for the coming months remains firm, mainly due to a fall in production and a sustained increase in consumption. Domestic sugar production has dropped 32 per cent to 137.26 lakh tonnes in sugar year 2004 (year ended September 2004) from 200.99 lakh tonnes for the same period in 2003.

As a result, for the first time in five years, domestic sugar consumption exceeded production. Analysts note that production is likely to decline in 2005 as well due to deficient rainfall in many sugar-producing parts of the country.

MERCATOR LINES
The scrip drifted 3.97 per cent to close the week at Rs 821.50.

 

Small-cap mover 

VIDEOCON APPLIANCES
Last week's close (Rs)	34.63
Prev. week's close (Rs)	27.38
Week's high (Rs)	40.75
Week's low (Rs)	26.68
Last week's ave. daily turnover (Rs cr)	2.63
Prev. week's ave. daily turnover (Rs cr)	0.45
Futures close	NT
Number of up/down move	3/2

The stock surged 26.48 per cent to end the week at Rs 34.63. The upsides have come on the back of Pune-based investor Ashok Parmar increasing his holding in the company to 14 per cent by purchasing two lakh shares from the market on Wednesday (December 1).

The stock recorded its 52-week high of Rs 36.05 following the deal. Parmar is likely to come out with a mandatory 20 per cent open offer to the shareholders of the company, if his holding crosses over 15 per cent.

The promoters, Dhoot family, holds 37 per cent in Videocon Appliances, while another 14 per cent is held through friends and group companies.

SRF POLYMERS
The stock advanced by 0.16 per cent to end the week at Rs 60.40.