Sun Infoways: brightening up

Reshma Krishnan

SUN Infoways witnessed a substantial increase in its share price in the week just gone by. Its share value rose Rs. 75.60 (15.60 per cent) to close at Rs. 561.40 from the previous week's close of Rs. 485.60. This buying interest could have been sparked by the company's decision to acquire Zap Infotech in a Rs. 475-crore all-stock deal.

Bajaj Auto: The scrip saw itself fall out of investor favour this week. Its share price fell Rs. 9.40 to close at Rs. 349.45 from the previous week's close of Rs. 358.85. This adverse market reaction could have been caused by the fact that the company has lowered the share price for its buyback programme from Rs. 450 to Rs. 400.

ITC: The company continued to see a interest in its scrip as the share price rose over the course of the week. It went up by Rs. 9.80 to close at Rs. 764.15 from the previous week's close of Rs. 754.30. This could have been on the back of the company unveiling investment plans opting for a balanced risk profile.

Aptech: The scrip was out of favour with the market this week. The share price fell by Rs. 74.85 to Rs. 542.65 from the previous week's close of Rs. 617.50. This was despite Aptech's acquisition of a US-based software consulting firm, Specsoft Consulting, and the pricing of its GDR offer at a premium to current market price.

Godrej Soaps: Godrej Soaps witnessed a boost to its share price. The share rose by Rs. 6.95 (16.5 per cent) to close at Rs. 42 from the previous week's close of Rs. 35.05. This rise could be attributed to the company's strategy to split its business into two entities and divest its stake in Godrej Sara Lee.

Mahindra & Mahindra: The scrip saw a steep fall in its share price. The share price plunged Rs. 36.95 (17.9 per cent) to close at Rs. 168.90 from the previous week's close of Rs. 205.85. This could have been triggered by the announcement that its first quarter profit after tax for the year 2000-01 was down 33 per cent to Rs. 34.28 crores.

Punjab Tractors: The scrip witnessed a marginal fall. Its share price fell by Rs. 8.15 to close Friday's trading session at Rs. 226.95 from the previous week's close of 235.10. The decline has to be viewed in the light of a 29 per cent decline in net profit to Rs. 24.70 crores for the first quarter of 2000-01.

Hindalco: Hindalco saw a marginal increase in share price. The share price rose Rs. 29 to close at Rs. 826.80 from the previous week's close of Rs. 797.80. This can be attributed to the 27.5 per cent increase in net profit posted by the company in the first quarter of 2000-01 taking the profit to Rs. 176 crores.