Performance moves price patterns

Anup Menon

WITH the markets remaining volatile for a major part of the week's trading, price movements have been largely performance-driven.

G.V. Films: The stock has lost around 21 per cent during the week to close the week at Rs. 55.25. The decline across the board in the new economy stocks may have led to the fall in price.

Mascon Global: The stock has been one of the few technology stocks which attracted market interest. It gained around 36 per cent during the week to close at Rs. 2,577.15 following a good earnings performance for the first quarter of 2000.

Reliance Industries: After failing to enthuse the markets with the buyback effort, the stock of this company has gained renewed interest. It gained around 11 per cent during the week to close at Rs. 340.

This time around, the earnings growth posted by the company seems to be lending support to the stock.

Alstom: The stock has been losing ground over the last few trading sessions. It declined by 11.45 per cent to close at Rs. 30.55.

The company has bagged an order worth 50 million euros from the Power Grid Corporation of India Ltd for the supply of high voltage interconnectors. This may lend some support to the stock in the near term.

VisualSoft Technologies: The stock has lost around 17 per cent during the week to close the week at Rs. 6,834.

A good earnings performance, announcement of a bonus issue of two shares for every share held in the company and the hike in the FII limit in the stock seems to have failed to lend support.

Framatome Connecters OEN: A good earnings performance for the quarter ended March 2000 and the possibility of a merger between Framatome Connectors OEN Ltd and Framatome Connectors Berg may be viewed favourably by the markets.

The stock closed the week at Rs. 265.55, recording a 5.38 per cent gain over the previous week.

Tata Telecom: The stock has lost around 27.2 per cent during the week to close at Rs. 115.65.

The move by Lucent Technologies to shift its ownership stake in Tata Telecom seems to have had a negative impact on the stock.

CG Igarashi Motors: This is another stock that has attracted market attention following its financial performance for 1999-2000.

The stock has gained around nine per cent during the week to close at Rs. 38.9.

Sun Earth Ceramics: The stock has lost around 10 per cent during the week to close at Rs. 169.

Indications from the company that it may go in for overseas acquisitions may lend support in the near term.

Bharat Electronics: The stock has notched up a gain of around 10 per cent during the week to close at Rs. 87.35. The gains may be attributed to the earnings performance.