Financial Daily from THE HINDU group of publications
Sunday, Apr 06, 2003
Financial Daily from THE HINDU group of publications Sunday, Apr 06, 2003 |
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Investment World
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Stock Markets Markets - Commentary Nalco surges 13.3 pc on improved export forecast G. Madhan
Tata Engineering (Rs 166): The stock price of Tata Engineering went up this week by 5.4 per cent. Expectations of good March sales figures appear to have propelled the upward movement of the stock. Nalco (Rs 83): The state-owned National Aluminium surged this week by 13.3 per cent. This has to be seen in the backdrop of export forecast and higher output projected by the company. The company is also on an expansion mode at present. Apollo Tyres (Rs 128): The rise in the stock price of Apollo Tyres this week by 5.1 per cent has to be viewed in the context of higher sales registered for the year 2002-03. The company has registered 17 per cent rise in turnover for the year. The company has also set a target of Rs 5,000 crore by 2005-06. LML (Rs 30): The stock price of LML zoomed 6.3 per cent this week. This has to be seen in the context of reports from the company that its motorcycle sales have grown 1.5 times, driven by positive response obtained for its commuter segment bike, "Freedom". GAIL (Rs 78): The stock price of the Centre-owned GAIL went up this week by 3.6 per cent. The company recorded a net profit of Rs 1,565 crore during the financial year 2002-03, up 32 per cent over the previous year's figure of Rs 1,186 crore. Turnover rose 11 per cent to Rs 11,763 crore. The improved performance is on the back of better realisation on petrochemical products as well as LPG. Mascot Systems (Rs 107): The stock price of Mascot Systems rose this week by 5.6 per cent. The company has announced its entry into the IT-enabled services segment with the acquisition of the contact centre and facility management business of IT&T. Moser Baer (Rs 248): The stock price of Moser Baer surged this week by 9.2 per cent. The company has announced the launch of the "moserbaer" brand of optical media in the domestic market. The new strategy is aimed at moving up the value chain to improve the company's market share in the optical media market, by leveraging the company's manufacturing strengths and experience in the field of storage technology. Tata Chemicals (Rs 69): The spike in the stock price of Tata Chemicals this week by 12.1 per cent has to be seen in the context of the favourable Supreme Court verdict over a Rs 400-crore tax dispute the company had with the income-tax department. The company averted a serious hit to its bottom line, by virtue of the apex court's order. Top Gainers and Losers The top 5 gainers of the week were Garware Polyester (44.4 per cent), Financial Technologies (44 per cent), Simplex Concrete Piles (40.2 per cent), Amex Information Technologies (35 per cent) and Narmada Cement (31.5 per cent). The top 5 losers of the week were JM Share & Stock brokers (25.7 per cent), Welspun India (22 per cent), REI Agro (19.5 per cent), Pan Packaging Industries (17.9 per cent) and Betala Global Securities (16.1 per cent).
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