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| The 30-share BSE Sensex closed the week with a 28.68-point loss at 3647.58, while the broader Nifty dropped 21.65 points to end at 1140. |
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| The markets opened on a bright enough note on Monday, climbing to a 26-month high on the back of uptrends in bluechip stocks like SBI and Reliance Industries. |
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| However, dismal results by IT firm Mastek triggered a collapse on Tuesday. Though the bourses managed to erase the losses on Wednesday, profit booking led to further losses on Thursday. |
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| Below-par first quarter results from IT bluechip Wipro saw the markets posting further losses on Friday. |
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MAHINDRA & MAHINDRA
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Last week close Rs 176.93
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Previous week close Rs 167.90
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Weekly high Rs 179.35
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Weekly low Rs 168.13
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Last week daily avg. turnover Rs 36.56 cr
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Previous week daily avg. turnover Rs 19.81 cr
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Futures close Rs 178.30, Rs. 179.65, NT
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| Number of up/down moves 3/2 |
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| M&M gained 5.36 per cent over last week to close at Rs 176.93 on news that the company will offload its 56.99 per cent stake in its subsidiary Mahindra British Telecom to Wipro. |
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| Rumours also have it that the company is selling its Kandivali plant in Mumbai. Wipro officials have, however, declined to comment on a probable buy. |
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| Results for the quarter ended June 30, 2003, are expected to be good, adding interest in the stock. For the quarter ended March 31, 2003, the company posted a decline in net profits by 48.4 per cent to Rs 48.67 crore. |
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| Income for the same period jumped 23.85 per cent to Rs 1142.48 crore For fiscal 2002-03, it recorded a 50 per cent increase in net profits to Rs 145.53 crore. |
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STATE BANK OF INDIA
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Last week close Rs 414.18
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Previous week close Rs 389.40
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Weekly high Rs 418.70
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Weekly low Rs 402.88
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Last week daily avg. turnover Rs 343.20 cr
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Previous week daily avg. turnover Rs 123.63 cr
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Futures close Rs 418.10, Rs 421.05, Rs 420.00
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| Number of up/down moves 3/2 |
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| State Bank of India gained 6.36 per cent over the week to close at Rs 414.18 following hopes of a hike in the investment limit for foreign institutional investors (FIIs) in the bank. |
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| SBI rose to touch its all-time high of Rs 433 intra-day on the BSE on Thursday. The rise was after the public sector bank announced that the centre was considering a proposal to raise the limit for FIIs. |
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| Turnover in the stock surged 177.6 per cent to record a daily average of Rs 3.43 crore. The stock is expected to gain more if the centre decides to implement the hike in foreign investment limits for the bank. |
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TISCO
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Last week close Rs 148.20
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Previous week close Rs 148.25
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Weekly high Rs 151.08
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Weekly low Rs 148.15
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Last week daily avg. turnover Rs 20.59 cr
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Previous week daily avg. turnover Rs 37.06 cr
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Futures close Rs 149.50, Rs 150.80, NT
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| Number of up/down moves 2/3 |
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| Tisco closed at Rs 197 after gaining 7.15 per cent last week. The market is positive about the company's emphasis on value-added products. |
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| The private sector steel maker touched a 52-week high of Rs 191.45 during intra-day trades on Monday. |
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| An increase in sales realisations due to firm product prices and an increase in the share of value-added products boosted Tata Steel's fourth-quarter results. |
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Volumes soared and recorded an increase of 86 per cent to 2.19 crore. Favourable prices and an increase in demand for steel and the company
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