The Surge Continues

STOCK MONITOR

 The broader Nifty also gained 73.80 points to end the week at 1523.10. The gains this week marked the 10th successive session that the Sensex has ended up with gains.

 The week opened with heavy buying interest on the back of expectations of good second-quarter results from corporates. However, mid-week losses in technology and heavyweight scrips slackened the momentum, though old economy counters, especially aluminium and banks, were in demand.

 The bulls were, however, back in full strength with the week culminating on a positive note for them as tech scrips lifted the spirits on the back of impressive results from Infosys Technologies.

 INFOSYS

 Last week's close (Rs) 4619.10

 Prev. week's close (Rs) 4556.90

 Week's high (Rs) 4708.00

 Week's low (Rs) 3986.00

 Last week's ave. daily turnover (Rs cr) 500.89

 Prev. week's ave. daily turnover (Rs cr) 467.41

 Futures close NT

 Number of up/down moves 3/2

 Infosys was among the keenly watched counters last week. The scrip gained nearly 4 per cent on Friday after the company announced a net profit of Rs 300.16 crore for the second quarter ended September 30, 2003 compared to Rs 225.77 crore for the quarter ended September 30, 2002, up 33 per cent.

 Total income has increased by 29 per cent from Rs 897.1 crore reported in the September 2002 quarter to Rs 1,179.03 crore in the quarter ended September 30, 2003. Diluted EPS for the September 2003 quarter stood at Rs 44.82, while the same was Rs 33.90 in same quarter last year.

 The company has revised its revenue guidance upwards from an EPS of Rs 168 given earlier to Rs 178.8-179.30 for the full year 2003-04.

 Analysts were happy with the company