The Hindu Business Line : Syngenta gains 37 pc

Bata India (Rs 32): The drop in the stock prices of footwear major Bata India, by 3.2 per cent this week has to be viewed in the context of September quarter performance. For the quarter ending September 2002, the company announced increase in net loss of Rs 8.51 crore as compared to a net loss of Rs 4.22 crore in the corresponding last fiscal.

Syngenta India (Rs 126): The stock prices of the agro-chemicals manufacturer, went up by 37.3 per cent this week, following the offer made by the Switzerland-based parent company Syngenta SA to buy the 49.01 per cent stake in the former, at Rs 130 per share.

Mahindra & Mahindra (Rs 87): The increase in the stock price of the nation's biggest tractor and utility vehicle maker rose by 3 per cent this week has to be viewed in the light of 53 per cent jump in the October month's sales, from a year ago.

Wipro (Rs 1,420): The stock price of the software major, Wipro this week went up by 4.4 per cent. The company has announced that Investment Bank, Lehman Brothers has chosen it along with Tata Consultancy Services to provide software services for them.

Bajaj Auto (Rs 434): The stock price of the two-wheeler major went down this week by 1.9 per cent. This has to be viewed in the context of apprehensions due to the reports that there could be a slackening in demand for automobiles.

Hindustan Petroluem (Rs 206): The stock price of the state-owned oil refinery, Hindustan Petroleum spiralled down this week by 8.6 per cent. Disinvestment blues continues to haunt this PSU ticket.

Larsen & Toubro (Rs 195): The stock price of engineering and construction conglomerate Larsen & Toubro has gained 3.4 per cent this week. The stock price has moved beyond the Rs 190 per share set by Grasim Industries for its open offer for an additional 20 per cent stake in the company, which will commence on December 9, 2002. Financial institutions, which own 38.5 percent of L&T, have said they were unlikely to submit shares in response to Grasim Industries' offer, as they find the offer price to be low. L & T, this week, also issued an outlook, that it expects cement prices to show a firmer trend in the second half of the year and that it expects revenues to rise by 15 per cent for the present financial year.

Satyam Computers (Rs 243): The stock price of the software major, Satyam Computers went up this week by 2.8 per cent. Increased buying interests of FIIs, in this stock appear to have fuelled the upward movement.

National Aluminium (Rs 72): The state-owned National Aluminium spiralled down this week by 20 per cent. Workers opposing privatising thus PSU had stopped a team of potential bidders last week from inspecting the company's main plant in Orissa

The top 5 gainers of the week are Pritish Nandy Communications, Syngenta India, Kingfisher Properties, Modipon and Vorin Labs. The top 5 losers of the week are Pan Packaging, Landmarc Leisure, Grauer & Weil India, Nedungadi Bank and National Aluminium.

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