Bulls dominated last week

STOCK MONITOR

Last week's close (Rs)

521.75

Prev. week's close (Rs)

489.40

Week's high (Rs)

525.97

Week's low (Rs)

475.83

Last week's ave. daily turnover (Rs cr)

340.40

Prev. week's ave. daily turnover (Rs cr)

350.26

Futures close

NT

Number of up/down move

4/1

 Maruti surged last week on increased vehicle sales in March and FY 2004. The stock gained almost 6 per cent over its previous weekly close. It has been northward-bound from a low of Rs 442.55 on March 22, 2004. The scrip has risen 15 per cent in a few days to the current levels of Rs 510.  For March 2004, MUL reported a 13.10 per cent growth in total vehicle sales to 52,700 units from 46,611 units in the corresponding period last year.  The company indicated that sales growth for March 2004 was actually stronger than what is being reported due to the high base effect of March 2003.  Many customers had deferred purchase in February 2003 in anticipation of a reduction in excise duty in the union budget. These customers bought cars immediately after the budget, pushing up sales in March 2003. MUL entered the S&P CNX Nifty index from March 1, 2004.  

BHEL
Last week's close (Rs)	623.70
Prev. week's close (Rs)	563.90
Week's high (Rs)	644.38
Week's low (Rs)	562.50
Last week's ave. daily turnover (Rs cr)	82.77
Prev. week's ave. daily turnover (Rs cr)	45.14
Futures close	NT
Number of up/down move	3/1

 Bhel got a boost from recent reports that the company has secured an order worth Rs 160 crore from ONGC for supply of oil-field wellheads. News of the company commissioning a gas turbine in Oman also fueled the buying.  As a result, the scrip zoomed by 13 per cent over its previous weekly close. The public sector power equipment major has commissioned its first 70 mw