Markets at a glance

The Sensex spurted 1,000 points and ended positive in four of the five trading sessions. Markets moved up ahead of Q3 December 2007 earnings reporting season on positive cues such as the decision to allow trusts to invest in securities. While the Sensex surged 5.45 per cent to 20,206.95 points, Nifty jumped 5.43 per cent to 6,079.70.

What to expect this week
Expectation of good numbers in the third quarter could extend gains this week. However, concerns over global growth on the back of higher unemployment figures and inflation in the US could dampen sentiment.

Record high crude prices and its impact on the economy is a cause for concern. Infosys results on the 11th will serve as a barometer of performance for IT stocks.

Stock to watch  

ALPHAGEO INDIA
Last week's close (Rs)	855.35
Prev week's close (Rs)	745.8
Week's high (Rs)	855.35
Week's low (Rs)	750.10
Last week's avg daily turnover (Rs cr)	3.42
Prev week's avg daily turnover (Rs cr)	1.72
Number of up/down moves	4/1

Alphageo India, engaged in undertaking seismic surveys for oil exploration companies and for seismic data acquisition is worth looking at. With crude oil having crossed the record $100 to a barrel, there is going to be huge upswing in exploration activity across the globe including India. This has already been reflected in the company's trailing twelve month financial performance.

While net sales and operating profit tripled to Rs 83.69 crore and Rs 41.25 crore respectively, net profit jumped five-fold to Rs 16.45 crore. Going ahead, the upcoming NELP (National Exploration and Licensing Policy) VII round should further aid the company's growth.

The company trades at 23 times its estimated fully diluted earnings for FY09. The stock seems to have tremendous upside potential even after significantly outperforming the Sensex and even the BSE Oil and Gas index, gaining five fold as compared to 50 per cent and 122 per cent respectively.