Markets at a glance

In the last week of 2007, the Sensex closed with the gain of 5.5 per cent at 20,207. The rally in the market is attributed to the short covering ahead of expiry of derivates contracts in the month of December.

Positive cues from the global markets and strong buying from FIIs and domestic funds led significant up moves across sectors. Small cap stocks witnessed more buying compared to large caps -the BSE Small-cap Index was up 9.2 per cent.

What to expect this week

The market is expected to continue its positive bias this week as well mainly on account of good F&O carryover and FII buying. Also, activity in the global markets would be muted due to the holiday season.

The immediate trigger would only come after the flow of Q3 results in second week of January. Analysts expect uptrend in mid- and -small cap space to continue. Going forward, metal stocks may remain in the limelight as prices of base metals are moving up.

STOCK TO WATCH 

AMTECH INDIA
Last week's close (Rs)	192.63
Prev week's close (Rs)	180.73
Week's high (Rs)	204.40
Week's low (Rs)	182.10
Last week's avg daily turnover (Rs cr)	18.58
Prev week's avg daily turnover (Rs cr)	4.98
Number of up/down moves	3/1

Auto component major, Amtek India is a stock to watch out for. The stock has appreciated 18 per cent in the last one month vis-a-vis Sensex gain of 6.7 per cent. It trades at a trailing twelve month price to earnings multiple of 15 times.

The company reported phenomenal performance in the same period. While net sales jumped 60.8 per cent to Rs 836 crore, net profit leaped by 80 per cent to Rs 135 crore.

Amtek India manufactures machined and casting components used in transmission and suspension assembly for all categories of vehicles.

In the first week of December, the company's board had approved the raising of Rs 96 crore through preferential allotment to the promoter group.