Shonkh Technologies turns the tide

K.S. Badri Narayanan

BALAJI Telefilms: The just-listed scrip was able to attract market interest in its favour.

It finished the week on a strong note at Rs 178.90, after touching an intra-day high of Rs 199 on Tuesday -- the listing day -- against the listing price of Rs 130.

Nine Network Entertainment India Pvt Ltd, a wholly-owned subsidiary of Nine Broadcasting India, is to be with Balaji Telefilms.

Flex Chemicals: The acquisition of Cincom Systems India Pvt Ltd, a 100-per cent subsidiary of Cincom System Mauritius, might have fuelled a strong rally in this counter. Flex finished the week strong at Rs 134.55 (Rs 106.90).

Eveready Industries: Its decision to sell tea estates in Darjeeling for a total consideration of Rs 9.76 crore failed to enthuse the market. Eveready finished on a flat note at Rs 29.75 (Rs 29.80).

Mascot Systems: A strategic alliance with Air2Web Inc, which will enable Mascot to provide mobile commerce solutions, seemed to have attracted some interest for this counter. Mascot Systems finished at Rs 290.85 (Rs 280.50), after touching a high of Rs 296.45 during the week.

Shonkh Technologies: The scrip, which was in its downward slope of late, was able to turn the tide in its favour once again. Shonkh, whose decline never seemed to abate, managed to reverse, peaking to a high of Rs 445.50 (on September 28) and finishing the current week on a firm note at Rs 298.40 (Rs 260.90).

The company has decided to set up a business development office in association with Electronic Data Systems.

Sterlite Industries: The acquisition of two copper mines in Australia seemed to have evoked some interest in this scrip. Sterlite finished their week at Rs 151.45 (Rs 145.30).

Infotech Enterprises: A multi-million dollar contract from Dutch group FUGRO has failed to lift market sentiment. Instead, it finished on a poor note at Rs 224.50 (Rs 259.70).

Tips Industries: Unlike Balaji Telefilms, the stock was unable to attract market players in its favour. Though it began slightly above the floor price of Rs 325, it finished down at Rs 300.80.

Hero Honda: It attracted buying after data released by the Society of Indian Automobile Manufacturers (SIAM) showed a 39 per cent sales growth for the two-wheeler major in October. Hero Honda finished higher at Rs 830.45 (Rs 806.85).

Aptech: Expectations that it will soon acquire a technology company in the US seemed to have driven this scrip. Aptech finished at Rs 397.60 (Rs 386.15). It is in talks with two US software firms to finalise its second acquisition.

Cement Stocks - ACC, Grasim Industries, Grasim Industries, L&T, Gujarat Ambuja Cement, Madras Cement, India Cement and Panyam Cement - all scored impressive gains in a lacklustre week. The expectation of price rise in cement could have triggered a rally in this sector.