The stock gained institutional interest, especially after the Master Trust Bank of Japan bought about 25 lakh shares or 4 per cent of the total equity in the last two days of the week. The company had come out with robust third quarter results, feeding off the strong growth in the contract-research and manufacturing services (CRAMs) segment.
Volumes of the counter have been going up since the begining of the month of Februray 2006. Approximately 2.4 lakh shares were traded even during a lacklustre session as on Friday's, around ten times of the volumes compared to a week ago.
SBI Mutual Fund, Tata Mutual Fund, Reliance Capital Mutual Fund and HDFC Mutual Fund are other domestic mutual funds hording up on the stock in January 2006. Together they hold about 83 lakh shares or 12.1 per cent of the total equity size.
Dishman Pharmaceuticals, the Gujarat-based pharmaceutical company focuses on contract-anufacturing for MNCs.
| Stock of the week Hexaware Technologies Hexaware Technologies' spurted 15.04 per cent during the week to close at Rs 142.25 on Friday. It touched a high of Rs 151.9 on Friday and saw volumes of over 11 lakh shares. The company gave positive guidance for Q1 March 2006 numbers. The company expects net profit to grow 38.5 per cent q-o-q in March quarter, while sequential revenue is expected to grow by six per cent. For Q4 December 2005, the company posted 15.4 per cent growth in net profit, while revenue from operations was up by 10.8 per cent. The company has garnered orders of about $ 40 million during December quarter. The transition of the India Services Centre (ISC) to Oracle during the quarter, helped the growth in profitability. Moreover, the company has started work on phase 1 of its Chennai campus, which would accommodate 3,000 software professionals. The company is a major provider of offshore HR-IT solutions. |
