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G. Madhan

Ranbaxy Labs (Rs 636): The stock price of the Ranbaxy Labs moved up this week by 1.3 per cent. This has to be viewed in the context of the improved quarterly earnings registered by the company. For the quarter ending December 2002, the company's net profits trebled by 322 per cent to Rs 212.7 crore, over the corresponding prior period of 2001. Net sales of the company, for the same period has also gone up by 38.5 per cent to Rs 837 crore. Robust export sales including a mile-stone payment of an estimated Rs 32 crore from Bayer - for the development on Ciprofloxacin's formulation, licensed out to Bayer by Ranbaxy have contributed to the impressive quarterly results.

Bajaj Auto (Rs 523): The increase in the stock price of Bajaj Auto by 5.5 per cent has to be seen in the light of good quarterly performances posted by the company. For the quarter ending December 2002, the company registered Rs 133.9 crore as net profit, a significant 23.8 per cent growth over the corresponding prior period. Net sales for the same period has also gone up by 13 per cent to Rs 1273 crore.

HDFC Bank (Rs 224): The stock price of HDFC Bank went up this week by 4.1 per cent. This has to be viewed in the backdrop of good quarterly performances of the same. For the quarter ending December 2002, the bank registered Rs 98.88 crore as net profit, a 31 per cent growth over the corresponding prior period. The interest earned by the bank stood at Rs 504.86 crore up from Rs 439.56 crore registered in the corresponding prior period.

IDBI Bank (Rs 30): The stock price of IDBI Bank also went up this week by 14.4 per cent on the back of good quarterly earnings. For the quarter ending December 2002, the bank posted a net profit of Rs 27.4 crore, a three-fold jump compared with its profits in the corresponding quarter in the previous year.

Ramco Systems (Rs 507): The stock price of the software firm, Ramco Systems went up this week by 32.9 per cent. The company, this week bagged on order from Tirumala Tirupati Devasthanams (TTD) for developing an integrated system for front office solutions and back office automation for various departments.

Zee Telefilms (Rs 94): The stock price of the media major, Zee Telefilms spiralled down this week by 4.9 per cent. The securities and Exchange Board of India (SEBI) is understood to have written to the Foreign Investment Promotion Board (FIPB) to put on hold, the proposal by the Zee Tele to pledge five crore of its shares with Credit Suisse First Boston (CSFB) to raise $40 million. This is due to the pending investigation into alleged irregularities in certain transactions of the company and its promoters.

Major Gainer and Losers

The top 5 gainers of the week are Moving Picture Company, Transpek, Ahmednagar Forgings, Excel Industries and Ramco Systems. The top 5 losers of the week are Sun Pharma, DPIL, Usha International, Ashima Ltd and TCI Industries.

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