Drop in PAT pulls down Bajaj Auto

Reshma Krishnan

BAJAJ Auto Ltd saw a fall in its share price over the course of the week. It fell by Rs 7.30 to end the week at Rs 222.90 from the previous close of Rs 230.20.

This fall probably took place on account of a 57 per cent drop in profit after tax at Rs 262.56 crore for the year ended March 31, 2001 as compared to Rs 613.73 crore in the previous year.

Godrej Industries Ltd, formerly Godrej Soaps Ltd, was another company affected by earnings results. It has also had an unfavourable week with share prices falling marginally. The stock fell by Rs 1 to end the week at Rs 17.70 from the previous weeks close of Rs 18.70. This was perhaps on the back of the company reported a 33 per cent decline in its net profit at Rs 40.65 crore for the 2000-2001 fiscal as compared to Rs 60.99 crore in the earlier year.

Siemens: This company also saw itself out of favour with the market this week. Its shares ended down to close at Rs 192.20 from the previous week's close of Rs 206. The markets adverse reaction to the buyback specifics announced during the week might have caused this. The company has proposed a buyback at a price not exceeding Rs 250 per share from the open market. The buyback outlay is Rs 80.5 crore.

Housing Development Finance Corporation Ltd (HDFC) also saw a fall in share price. The stock fell by Rs 17.15 to end Friday at Rs 586.10 from the previous week's close of Rs 603.25. This fall came despite the company registering a 17.87 per cent increase in net profit at Rs 473.65 crore for the year ended March 31, 2001 from Rs 401.81 crore in the previous year.

Satyam Computer proposed this week to list its shares in the New York Stock Exchange in due course. The move must have been liked by the market as the stock rose to end the week at Rs 227.95.

The technology heavyweight Infosys Technologies saw a fairly good week too. The stock closed up Rs 3902.40 from the previous week's close of Rs 3813.90. The rise came despite indications that the company is cutting down on capital expenditure by around 17 per cent.

The Balaji Telefilms stock seems to have seen a good week too. The move to scrap a merger with another entertainment company may have lead to the rally in the stock. The share price closed the week at Rs 135.85, up from the previous weeks close of 124.10.