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| Monday saw the Sensex shrugging off the absence of a rate cut from the mid-term review of the monetary and credit policy to pierce the psychological 5,000 mark and spurt by 156.16 points.
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| The gains continued on Tuesday but Wednesday saw profit booking come to the fore and the trend continued for the next three sessions.
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| On Friday, the Sensex slipped below the 5000-mark as selling gained momentum in frontline stocks and saw the index eventually end with a loss of 75.97 points, at 4,971.57.
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| The net effect, however, was a 64.13-point gain for the Sensex over its previous weekly close. The Nifty, meanwhile, gained 36.15 points higher at 1592.05.
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| ACC
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| Last week's close (Rs) 229.58
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| Prev. week's close (Rs) 213.68
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| Week's high (Rs) 239.95
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| Week's low (Rs) 215.70
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| Last week's ave. daily turnover (Rs cr) 197.82
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| Prev. week's ave. daily turnover (Rs cr) 101.94
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| Futures close Nov-2003 (Rs) 232.60
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| Futures close Dec-2003 (Rs) 0.00
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| Futures close Jan-2004 (Rs) 0.00
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| Number of up/down moves 3/2
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| Cement stocks are gaining steadily across the bourses. ACC's cement dispatches increased 15.1 per cent in October compared to the same period last year. ACC's dispatches stood at 12.6 lakh tonnes.
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| "The current quarter is always good for cement stocks as offtake increases," says Pradip Doshi, CEO, PC Doshi Securities. Offtakes improve particularly after monsoons and Diwali which also brings about higher prices.
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| The domestic companies are also looking at increasing the prices of 50 kg bag by Rs 5-10. "ACC has just begun a rally and should see levels of Rs 250," says Hemen Kapadia, technical analyst and partner, Morpheus Inc, an investment advisory firm.
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| SAIL
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| Last week's close (Rs) 46.65
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| Prev. week's close (Rs) 44.78
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| Week's high (Rs) 48.90
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| Week's low (Rs) 43.23
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| Last week's ave. daily turnover (Rs cr) 379.37
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| Prev. week's ave. daily turnover (Rs cr) 305.04
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| Futures close NT
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| Number of up/down moves 2/3
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| SAIL witnessed good buying from foreign institutions as well as players. Good quarterly performance and hopes of excellent growth prospects on the back of rising demand for steel have generated interest in the stock.
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| "Firm steel prices and the talk of government's non-interference in steel prices have helped the stock," says Doshi.
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| He adds that the scrip should see levels of Rs 60 soon. Demand as well as a hike in prices have buoyed the scrip on the bourses. "The trend is clearly upward. However, if the scrip closes below Rs 42, the build that it has made for the uptrend will be severely affected," says Kapadia. The resistance level is around Rs 54.
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| HINDALCO
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| Last week's close (Rs) 1182.63
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| Prev. week's close (Rs) 1098.45
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| Week's high (Rs) 1266.45
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| Week's low (Rs) 1079.45
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| Last week's ave. daily turnover (Rs cr) 57.92
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| Prev. week's ave. daily turnover (Rs cr) 39.53
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| Futures close Nov-2003 (Rs) 1190.20
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| Futures close Dec-2003 (Rs) 0.00
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| Futures close Jan-2004 (Rs) 0.00
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| Number of up/down moves 2/3
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| Hindalco has moved up on the bourses as domestic prices of aluminium are looking at a rise of upto Rs 2000. Hindalco announced the hike of basic aluminium prices by Rs 1,000-2,000.
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| "The stock looks a bit highly priced which is enough to attract some sellers. There may be some resistance at Rs 1,250-1,350 levels," says Doshi.
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| Analysts say that due to a price rise in alumina fuelled by Chinese demand, aluminium prices, too, have risen. "Though the trend is up, if the stock closes below Rs 1,180 in intra-day trades, it may come down to Rs 1,164," says Kapadia.
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| However, he adds that if the uptrend continues the stock will touch Rs 1,300 next. "It is a buy opportunity," he says.
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| DR REDDY'S
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| Last week's close (Rs) 1275.65
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| Prev. week's close (Rs) 1195.28
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| Week's high (Rs) 1464.85
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| Week's low (Rs) 1254.00
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| Last week's ave. daily turnover (Rs cr) 162.00
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| Prev. week's ave. daily turnover (Rs cr) 32.85
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| Futures close Nov-2003 (Rs) 1293.50
|
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| Futures close Dec-2003 (Rs) 0.00
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| Futures close Jan-2004 (Rs) 0.00
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| Number of up/down moves 2/3
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| Dr Reddy's Laboratories vaulted 11.78 per cent on the BSE on Monday after the company announced that the US Food and Drug Administration (USFDA) approved the company's NDA for AmVaz (Amlodipine Maleate.)
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| The scrip continued to be buoyant on the bourses and finally ended the week with a 6.72 per cent gain over its previous weekly close.
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| The company has active development programmes on a number of differentiated compounds in major therapeutic categories and expects additional NDA filings during the current fiscal year. It also launched a South African subsidiary Dr Reddy's Laboratories, South Africa (Dr Reddy's SA).
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| The company aims to use South Africa as the gateway towards penetrating and establishing a presence in SADEC regions and sub-Saharan African territories, at the same time developing a significant presence in the South African market place.
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| "The stock's rise on Monday has been with a gap between 1,206-1,250 which needs to be filled before any further upmove can take place," says Vijay Bhambhwani, CEO, BSPLIndia.com.
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| HCL TECH
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| Last week's close (Rs) 245.03
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| Prev. week's close (Rs) 216.73
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| Week's high (Rs) 258.45
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| Week's low (Rs) 219.90
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| Last week's ave. daily turnover (Rs cr) 85.53
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| Prev. week's ave. daily turnover (Rs cr) 40.28
|
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| Futures close Nov-2003 (Rs) 246.50
|
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| Futures close Dec-2003 (Rs) 0.00
|
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| Futures close Jan-2004 (Rs) 0.00
|
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| Number of up/down moves 3/2
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| HCL Technologies rose 6 per cent on Tuesday at the BSE after the company's first-quarter net profits fell in line with expectations.
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| For the week, the scrip gained a whopping 13.06 per cent compared to its previous weekly close. The company posted a net profit of Rs 89.6 crore for its first quarter ended September 30, 2003, compared to Rs 73.34 crore in the same quarter last year, an increase of 22.17 per cent.
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| Excluding other income, HCL operating profit on a q-o-q basis has increased 28 per cent to Rs 103.91 crore.
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| Analysts peg the rise to tight control on operating expenditure coupled with a healthy turnover growth. "The scrip has resistance at the Rs 257 levels and may fall to Rs 235 or even Rs 230 levels before it sees a consolidation in three-four sessions," says Bhambhwani.
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| DABUR
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| Last week's close (Rs) 72.53
|
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| Prev. week's close (Rs) 64.75
|
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| Week's high (Rs) 74.48
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| Week's low (Rs) 64.63
|
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| Last week's ave. daily turnover (Rs cr) 8.12
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| Prev. week's ave. daily turnover (Rs cr) 3.06
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| Futures close NT
|
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| Number of up/down moves 5/0
|
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| Dabur India jumped 6.58 per cent at the BSE on Wednesday after the company recorded a 28 per cent rise in net profit for the first half this financial year.
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| The scrip continued its gains and ended the week with a 12.02 per cent increase over its previous weekly close. The company posted a net profit of Rs 53.46 crore for the half year ended September 30, 2003, compared to Rs 41.81 crore for the half year ended on September 30, 2002, an increase of 27.86 per cent.
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| It's FMCG segment reported a 33.5 per cent growth in net profit and gave a big boost to the bottomline of the personal and healthcare company for the half year ended September 30, 2003. FMCG revenues grew 6.35 per cent.
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| "The stock has given a breakout above the Rs 70 level and should look to touch the Rs 82 levels in the coming week," says Bhambhwani.
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| SATYAM
|
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| Last week's close (Rs) 329.15
|
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| Prev. week's close (Rs) 306.20
|
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| Week's high (Rs) 347.83
|
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| Week's low (Rs) 307.35
|
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| Last week's ave. daily turnover (Rs cr) 828.56
|
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| Prev. week's ave. daily turnover (Rs cr) 552.14
|
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| Futures close Nov-2003 (Rs) 331.80
|
| |
| Futures close Dec-2003 (Rs) 0.00
|
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| Futures close Jan-2004 (Rs) 0.00
|
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| Number of up/down moves 3/2
|
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| Satyam Computers hit a 52-week high of Rs 346 on the BSE on Tuesday and ended 6.84 per cent higher after its overnight rally in its ADRs on the NYSE. The stock continued to be buoyant on the bourses last week with the scrip gaining 7.5 per cent over its previous weekly close.
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| In a recent development, Bear Stearns has chosen Satyam as one of the two preferred information technology vendors for a long-term outsourcing relationship.
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| The assignment involves leading edge application development and application maintenance work for both mission critical and legacy systems.
|
| |
| "Satyam's upmove has been with a gap of Rs 320-325. The stock is likely to see the Rs 320 levels soon before any consolidation creeps in," says Bhambhwani.
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| Stock of the week
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| SHIPPING CORP
|
| |
| Last week's close (Rs) 135.90
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| Prev. week's close (Rs) 119.45
|
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| Week's high (Rs) 139.70
|
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| Week's low (Rs) 117.18
|
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| Last week's ave. daily turnover (Rs cr) 33.71
|
| |
| Prev. week's ave. aily turnover (Rs cr) 16.62
|
| |
| Futures close Nov-2003 (Rs) 137.10
|
| |
| Futures close Dec-2003 (Rs) 0.00
|
| |
| Futures close Jan-2004 (Rs) 0.00
|
| |
| Number of up/down moves 4/1
|
| |
| The shipping sector as a whole is on a bullish trend. The stocks are up on the news that the government will replace corporate tax with tonnage tax for the sector.
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| |
| "The expected change in policies will help the companies," says Doshi. The change is expected to improve the financials for the sector, as it will bring down the tax levels to 1-2 per cent from the current levels of 35 per cent.
|
| |
| The switch to tonnage tax is also expected to attract foreign direct investment (FDI). "The stock is in a long-term uptrend. If it breaks the Rs 142 levels, there will be huge upsides," says Kapadia.
|
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| TATA CHEMICALS
|
| |
| The stock faced selling pressure last week, declined 2.6 per cent to settle at a close of Rs 121.78.
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| |
| Stock to watch
|
| |
| GAIL
|
| |
| Last week's close (Rs) 170.95
|
| |
| Prev. week's close (Rs) 162.58
|
| |
| Week's high (Rs) 180.30
|
| |
| Week's low (Rs) 163.78
|
| |
| Last week's ave. daily turnover (Rs cr) 55.38
|
| |
| Prev. week's ave. daily turnover (Rs cr) 58.56
|
| |
| Futures close Nov-2003 (Rs) 173.00
|
| |
| Futures close Dec-2003 (Rs) 0.00
|
| |
| Futures close Jan-2004 (Rs) 0.00
|
| |
| Number of up/down moves 3/2
|
| |
| Gail gained over 5 per cent last week over its previous weekly close. The scrip had a rather eventful week with news of it having inked a pact with Mitsubishi Corporation of India for exploration of energy.
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| |
| The company said pursuant to the proposed deregulation of the Indian gas sector, the domestic gas market is going to face qualitative change with multiple sources of gas.
|
| |
| Dealers say the stock is expected to continue its good form on the bourses this week. "The positive developments in the company would keep the stock in good stead this week and see it rise to Rs 200," says Doshi.
|
| |
| GUJARAT AMBUJA
|
| |
| The scrip gained 10.14 per cent amidst heavy buying, clocking a volume increase of 185.6 per cent and closed at Rs 277.98.
|
| |
| Mid-cap mover
|
| |
| KEC INTERNATIONAL
|
| |
| Last week's close (Rs) 46.65
|
| |
| Prev. week's close (Rs) 29.45
|
| |
| Week's high (Rs) 48.48
|
| |
| Week's low (Rs) 30.45
|
| |
| Last week's ave. daily turnover (Rs cr) 9.22
|
| |
| Prev. week's ave. daily turnover (Rs cr) 3.10
|
| |
| Futures close NT
|
| |
| Number of up/down moves 4/1
|
| |
| KEC International had a good run on the bourses last week. The scrip gained a whopping 54.8 per cent compared to its previous weekly close.
|
| |
| Trading on the counter has been characterised by heavy buying, and average daily volumes surged 197 per cent. The counter surged up on buying interest following reports that the company had bagged an export order worth Rs 167 crore.
|
| |
| The company's officials stated that it received an order in Iraq to the tune of $36 million. Dealers said the stock has moved all week and is slated for some more uptrend.
|
| |
| BIRLA GLOBAL FINANCE
|
| |
| The stock gained 15 per cent on the bourses last week to close at Rs 25.45.
|
| |
| Small-cap mover
|
| |
| VST TILLERS
|
| |
| Last week's close (Rs) 50.85
|
| |
| Prev. week's close (Rs) 43.95
|
| |
| Week's high (Rs) 54.25
|
| |
| Week's low (Rs) 44.10
|
| |
| Last week's ave. daily turnover (Rs cr) 0.23
|
| |
| Prev. week's ave. daily turnover (Rs cr) 0.05
|
| |
| Futures close NT
|
| |
| Number of up/down moves 4/1
|
| |
| VST Tillers gained 15.7 per cent on the exchanges last week. The volumes in the scrip also rose by a phenomenal 360 per cent with players wanting to be a part of the scrip's rally.
|
| |
| Most auto stocks gained on the bourses riding the back of surging sales. Stronger agricultural and industrial growth led to an improvement in buyer sentiment.
|
| |
| Moreover, better and easier access to cheap and consumer-friendly financing options is also playing a major part in converting pent-up demand into actual purchases. The difficult phase that the tractor industry was in seems to be over now with good monsoons.
|
| |
| RAYBAN OPTICS
|
| |
| The stock registered a modest gain of 3 per cent to close at Rs 66.55.
|
| |
Week
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