Financial Daily from THE HINDU group of publications
Sunday, Sep 21, 2003
Financial Daily from THE HINDU group of publications Sunday, Sep 21, 2003 |
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Investment World
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Stock Markets Markets - Commentary Up `N' Down the Street G. Madhan
HPCL (RS 349): The stock fell 18 per cent on the back of Supreme Court verdict, that disinvestment of Government stake in the company requires the approval of Parliament. BEML (Rs 143): The stock surged 24 per cent, second week in a row. The company has bagged a Rs 30-crore order from Indian Railways and is expected to bag more orders for its metro rail project. Maharashtra Seamless (Rs 179): The stock of this electro-resistant-welding pipe manufacturer rose 21 per cent, on expectations of improved demand for the company's products. HCL Technologies (Rs 166): The stock fell 16 per cent after the company's announcement, that the discrepancy in revenue recognition in one of its subsidiaries, for the year ending June 2003, has been detected and corrected and has no impact on the company's cash flows. Infotech Enterprises (Rs 143): The stock rose over 13 per cent after the company signed a four-year contract (base value being $1.5 million, per year) with Bombardier Transportation. TNPL (Rs 77): The improved domestic demand and the uptrend in international paper prices appear to have propelled this stock, as it rose by 13 per cent. Lyka Labs (Rs 32): On the back of profit-booking the stock fell over 15 per cent - the highest loser among the swathe of mid-cap pharma stocks that fell during the week. Jubilant Organosys (Rs 397): The stock surged by about 28 per cent. Though there is no specific reason behind this rally, expectations of improved demand for the company's drug citalopram may be behind the surge. Federal Bank (Rs 139): The stock fell over 13 per cent - the highest loser among the cohort of bank stocks that fell during the week. Shaw Wallace (Rs 52): The stock rose over 11 per cent. The company has hired consultancy major McKinsey for plotting a roadmap to expand its liquor business. — G. Madhan
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