Week of mixed fortunes

STOCK MONITOR

Number of up/down move3/1  Bharti Tele-Ventures slipped 2.70 per cent during last week. Earlier in the week, the company struck a deal with Shyam Telecom to buy out the latter's 67.50 per cent stake in cellular services company Hexacom for Rs 430 crore.  Hexacom offers cellular services in Rajasthan and controls 44 per cent of the cellular market in the state with a subscriber base of 250,000.  In a share swap deal, Bharti has proposed to issue optionally convertible redeemable debentures to Shyam Telecom for its 67.50 per cent stake in Hexacom. The Rs 430-crore deal comprises Rs 300 crore as optionally convertible redeemable debentures, Rs 75 crore worth equity shares of Bharti Tele-Ventures and Rs 55 crore in cash.   

BHEL
Last week's close (Rs)	635.85
Prev. week's close (Rs)	623.70
Week's high (Rs)	685.35
Week's low (Rs)	620.83
Last week's ave. daily turnover (Rs cr)	115.77
Prev. week's ave. daily turnover (Rs cr)	82.77
Futures close	NT
Number of up/down move	2/2

 Bhel witnessed hectic activity last week, climbing upto a high of Rs 685.35 before closing the week at Rs 635.85. The impressive run-up earlier in the week was attributed to the company's strong financial performance.  On April 2, the company announced a 38 per cent jump in its net profit after tax to Rs 615 crore on the highest-ever turnover of Rs 8,619 crore. It also witnessed the highest-ever order inflow of Rs 16,469 crore in a single year in FY04. Bhel