Firm trend in HCL Technologies

Reshma Krishnan

HCL Technologies: The stock of HCL Technologies witnessed a sharp rise in its value. It closed up Rs 111.15 to end the week's trading session at Rs 1,144.55, up from the previous week's close of Rs 1,033.40. This perception that the stock may be a market outperformer by select FIIs contributed to the firm trends in the stock price.

Zee Telefilms: Zee Telefilms saw a rise in the value of its stock this week. It rose by Rs 32 to end the week at Rs 439.35 from the previous week's close of Rs 407.35.

The stock price witnessed a rise despite the management's indication that while revenue may grow at around 30 per cent, the growth in post-tax earnings may be lower.

Glaxo (India): Glaxo (India) saw a marginal increase in stock price this week. It rose by Rs 8.30 to end the trading session on Friday at Rs 451.85 from the previous week's close of Rs 443.55. The flat trends continued despite news that the company plans to sell some of its brands.

Wipro: This new-economy heavy-weight saw its shares rise during the course of the trading week. It was up Rs 185.15 to close the week's trading session at Rs 2,638.15 from the previous Friday's close of Rs 2,453. The interest in the stock was fuelled to some extent by the company filing a registration statement to offer 2.75 million American Depository Receipts (ADR's) shares aggregating $175-200 million in the US late last week.

Liberty Shoes: The stock witnessed a fall in value this week. Liberty's share price fell by Rs 1.90 to close the week at Rs 66.10 from the previous week's close of Rs 68. The decline could have been triggered by the decision to postpone the conversion of debentures.

Hughes Software: The stock saw a marginal rise over the course of the week. It rose Rs 8.95 to close on Friday at Rs 1,198.75 from the previous week's close of Rs 1,189.80. The stock crept up marginally against the backdrop of the company's decision to establish a software development facility for next generation switching infrastructure.

Dr. Reddy's Labs: The company's share price went up by Rs 44.85 to close at Rs 1,245.30 from the previous week's close of Rs 1,200.45. The stock price appreciated in the light of the major restructuring programme undertaken by the company.

Sundram Fasteners: The company saw a small rise in the value of its scrips. It rose by Rs 18 to close the week at Rs 399.50 from the previous week's close of Rs 381.50. The investor interest in the stock could be due to reports that the company is keen on acquiring US marketing units.