Financial Daily from THE HINDU group of publications
Sunday, Apr 27, 2003
Financial Daily from THE HINDU group of publications Sunday, Apr 27, 2003 |
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Investment World
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Stock Markets Markets - Commentary NIIT gains 30 pc on improved performance G. Madhan
Satyam Computer (Rs 164): The stock price of Satyam Computer surged this week by 13.7 per cent despite registering a huge one-time write off and a subsequent loss in the quarter ended March 2003. For the quarter ended March 2003, the company posted a net loss of Rs 35.92 crore as against a net profit of Rs 74.4 crore in the corresponding quarter of the preceding year. In its outlook, however, the company announced that its income for the year 2003-04 is expected to grow between 15 and 17 per cent in dollar terms. NIIT (Rs 128): The stock price of NIIT surged by 29.9 per cent this week. This has to be seen in the light of good financial results declared by the company for the quarter ended March 2003. The company reported a consolidated net profit of Rs 5.4 crore as against Rs 2.6 crore loss in the corresponding period in the previous year. Zensar Technologies (Rs 72): The stock price of Zensar Technologies rose by 5.3 per cent this week, despite witnessing drop in the net profits in the recently-ended quarter. The company has posted a net profit of Rs 2.94 crore for the quarter ended March 2003, as against Rs 3.49 crore registered in the corresponding quarter of the previous year. Centurion Bank (Rs 10): The stock price of Centurion Bank rose this week by 16.9 per cent. Sabre Capital Worldwide-led investor group is set to take over the management control of the ailing bank, by investing Rs 129 crore to acquire 48 per cent stake in the bank. Hindustan Lever (Rs 136): The stock price of Hindustan Lever hit the historic low as it fell by 4.8 per cent this week. Poor monsoon forecasts and the uncertainty regarding the growth prospects of the company appear to have fuelled the selling pressure in the stock. Reliance Industries (Rs 268): The stock price of Reliance Industries fell by 3.6 per cent this week despite posing good financial results in the recently concluded quarter. The company has posted a net profit of Rs 1,101 crore for the quarter ended March 2003 as compared with Rs 835 crore registered in the corresponding quarter of the previous year. Colour Chem (Rs 231): The stock price of Colour Chem rose this week by 1.8 per cent. The company has made an open offer for a further 20 per cent stake in Vanavil Dyes & Chemicals at Rs 45.90 per share. The offer opens on June 16 and closes on July 15. Grasim Industries (Rs 350): The stock price of Grasim Industries rose by 3.1 per cent this week. The company has announced May 7, as the date of its open offer for 20 per cent stake in Larsen & Toubro. Top gainers and Losers The top five gainers of the week are Today's Writing (68.9 per cent), Dutron Polymers (49.2 per cent), Modipon (44.1 per cent), Schenectady-Beck India (37.7 per cent) and Schenectady Herdilia (30.7 per cent). The top five losers of the week are Dawn Mills (16 per cent), Pharmacia Healthcare (13.5 per cent), Oriental Containers (13.3 per cent), Continental Coffee (13.2 per cent) and Helios & Matheson (12.9 per cent).
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