Bulls win at the end of volatile week

STOCK MONITOR

 The week started on a dull note for the bulls though with the indices declining on the back of selling pressure in pharma and blue-chip counters. The impending expiry of the September series contracts in the derivatives segment also pulled investors away from the markets.

 However, short covering in the F&O market led to gains the next session. The rally continued for the session after that, too.The uptrend did not last long though as investors unwound positions on expiry of the September series contracts.

 However, bulls had the last laugh as they went on a buying spree on Friday as hopes of good Q2 results enthused the markets.

 TATA MOTORS

 Last week's close (Rs) 302.23

 Prev. week's close (Rs) 273.98

 Week's high (Rs) 303.50

 Week's low (Rs) 269.25

 Last week's ave. daily turnover (Rs cr) 213.18

 Prev. week's ave. daily turnover (Rs cr) 127.45

 Futures close NT

 Number of up/down moves 3/2

 Tata Motors spurted 10 per cent last week to touch Rs 302.23. This was backed by news that Ratan Naval Tata has acquired 6,124 ordinary shares.

 The fresh acquisition follows Tata's exercising the rights attached to an equivalent number of detachable warrant issued by the company along with convertible debentures and non-convertible debentures at the time of the rights issue in September 2001.

 Ratan Tata now holds 52,056 shares representing 0.01 per cent of the paid-up share capital. The report implies that the promoters have faith in the company.

 Meanwhile, the company is betting big on the North-East to boost Sumo sales with the launch of the cheaper Sumo Spacio.

 A healthy growth in the number of vehicles sold could also be the driving factor behind the rise in prices. Tata Motors