A good week for the old school

Reshma Krishnan

RAYMOND: The Raymond stock witnessed a sharp rally this week. It gained Rs 13.05, 11.16 per cent , to close at Rs 129.95 from the previous weeks close of Rs 116.90. This could have been on the back of the company announcing plans on the possibility of a buy-back.

Tata Elxsi: This company saw a marginal increase in the value of its shares. It rose Rs 8.05, 8.3 per cent, to end the week at Rs 104.80 from a last Friday's close of Rs 96.75. This interest could have been fuelled by a small increase of stake by Tata Sons in Tata Elxsi to 19.17 per cent from 6.50 per cent.

Gesco Corpn: Gesco saw a fall in the value of its shares over the course of the week. The shares closed down Rs 1.95, 4.1 per cent to end the week at Rs 44.80 from the previous week's close of Rs 46.75. This fall out of investor favour could have been triggered by the fact that the Sheth-Mahindra group is evaluating options for the open offer for Gesco Corpn.

Zee Telefilms: This company also saw a marginal fall in the price of its share. The stock fell Rs 3.90, 1.4 per cent, to close the week at Rs 273.10 from the previous week's close of Rs 277. This adverse reaction from the bourses can be viewed in the light that the company has withdrawn from its proposed foray into the sports channel business. It has also made plans to divest at cost its stake in Buddha Films, which holds the marketing rights for cricket for a four-year period.

Elbee Services: This company has seen a small rise in the value of its stock. The price of the share rose Rs 3.03, 4.6 per cent during the course of the week to end at Rs 68.05 from the previous Friday's close of Rs 65.03. This interest could have been caused by the memorandum of understanding entered into by the company with a global major, DHL World-Wide Express for a `service associate' arrangement.

Larson & Toubro: L & T also had a good week at the bourses resulting in a small rise in share price. It went up by Rs 12.30, 6.2 per cent to end the week at Rs 207.95 from the previous week's close of Rs 195.65. This rise could have been on the back of the commissioning of a cement unit by L&T in Tamil Nadu.

Binani Industries: This company has seen a rise in share price despite some adverse news affecting its plans for restructuring. The share price rose Rs 6.15, 10.95 per cent to end the week at Rs 62.30 from the previous week's close of Rs 56.15. The company had proposed to hive off its zinc business to Binani Zinc but has not been given approval by one of its primary lenders, the Industrial Development Bank of India. (IDBI).