Hindalco
Friday close: Rs 484.50
Previous close: Rs 519.16
Hindalco continues to suffer due to the weak aluminium prices on the London Metal Exchange in the recent past. More worrying is the fact that the outlook for the next year or so is also not very encouraging. The scrip, however, could witness some upsurge once there is some positive development on the privatisation of state-owned National Aluminium.
HPCL
Friday close: Rs 216.90
Previous close: Rs 179.95
HPCL recouped some of the lost ground since the disinvestment program had been put on hold. The sudden change in the sound bytes emanating from the North block, especially the petroleum minister, has provided the upsurge on the counter.
This apart, the strong stand taken by the Prime Minister himself and the volte face done by the defence minister has reassured the markets about the divestment of the oil major.
Infosys Technologies
Friday close: Rs 3,771.15
Previous Close: Rs 3,500.45
The infotech major not only managed to beat the street expectations but also pleasantly surprised the markets by upgrading its revenue guidance for the year, thereby attracting a lot of market attention.
The sentiments were further bolstered by the 15 per cent gain on the Nasdaq, after the quarterly results were announced on Thursday. Market experts expects the scrip to remain buoyant over the next few weeks on the back of sustained buying from institutional investors.
NIIT
Friday close: Rs 138.80
Previous close: Rs 127.25
NIIT has been moving up on the rumour of huge order acquisition by the company's software services division. Apart from this, the recent rally in technology stocks after the impressive results by the industry leader Infosys has only helped improve sentiments at the counter. The share price movement over the next few weeks will depend upon its quarterly results.
Tata Chemicals
Friday Close: Rs 50.1
Previous Close: Rs 52.7
The new draft policy on fertilisers seems to have adversely impacted most of the companies in the sector. Tata Chemicals was no exception. The scrip drifted down on the back of huge volumes witnessed on the counter. In addition, the finance ministry has struck down the suggestion to contribute Rs 200 crore for the setting up of the fertiliser development fund that would enable the old units to modernise.
