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Virendra Verma

TIPS Industries has been on an upward move since the beginning of this month, despite the possibility of the company reporting losses for the third quarter. The stock closed up at Rs 123.10 on the BSE. On the NSE, it closed higher at Rs 123.50.

Analysts who track the media industry are expecting a loss of around Rs 5-5.5 crore in the third quarter for the company. The company's board will meet on Tuesday to consider financial results.

According to analysts, the rise in the share price is on expectation of a foreign media player taking a stake in the company. Tips already has a marketing tie-up with Warner Electra Atlantic Inc for distribution of the company's music in India.

GE talk triggers action in Satyam

SATYAM Computer saw increased trading activity during the day. The talk going round in the market is that the contract between General Electric and Satyam Computer is under review. This review is mainly on the price revision for the software being sourced by GE. It is expected that the contract price would be reduced.

This fear led to the increased volumes in Satyam counter on the NSE in the first hour of trading; around 85 lakh shares were traded during this period. The share ended lower at Rs 249.50. On the BSE, the stock closed at Rs 250.25.

Increased volatility in MphasiS counter

AFTER giving a very optimistic guidance for the next financial year (2002-03), MphasiS BFL Software has been witnessing increased volatility. There is a mixed view among the IT analysts on the future earnings potential of the company. The pessimists feel that the company reporting a 60-per cent growth next year may not be possible at a time when even top IT companies find it difficult to achieve such growth rates. However, others view that the company will meet its targets as it has done in the past.

Due to the mixed view, there was increased volatility in the MphasiS BFL counter on Monday. On the BSE, after opening at Rs 440 it touched a high of Rs 444. But in the afternoon it touched a low of Rs 370.5 and finally closed higher from its low levels at Rs 425, still down from Friday close. Similar trend was seen on the NSE too.

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