The Hindu Business Line : Mid-cap stocks to the fore

This has to be seen in the backdrop of the company's announcement that the US Food and Drug Administration has accepted for filing its Abbreviated New Drug Application for ciprofloxacin.

Tata Chemicals (Rs 72): Tata Chemicals has declared an interim dividend of Rs 5.5 per share for the financial year 2002-03. The stock price rose by 5.7 per cent this week.

Digital GlobalSoft (Rs 537): The stock price of Digital GlobalSoft rose 3.1 per cent this week on the back of strong financial numbers recorded in 2002-03. The company posted a net profit of Rs 106 crore for the year ended March 2003 compared to Rs 92.7 crore in the corresponding previous fiscal.

The total income also grew 27 per cent to Rs 439.9 crore during this period.

The company has also recommended a dividend of 45 per cent for the recently concluded fiscal.

i-Flex solutions (Rs 847): The drop in the stock price of i-flex solutions by 4.4 per cent has to be viewed in the context of disappointing quarterly earnings number.

The net profit for the quarter ending March 2003 was at Rs 32.4 crore against Rs 35.8 crore in the corresponding previous quarter.

Net sales, however, was up by 19.8 per cent to Rs 145 crore during the same period.

Hero Honda (Rs 229): The stock price of Hero Honda has been trading in a narrow range in the recent past on the back of concerns pertaining to its revenue growth prospects.

However, this week, the company announced that it has entered into a business plan arrangement with Honda Motor India that clearly demarcates the turf as regards the product rollout by the two companies in the period up to April 2008.

This appears to have aided the northward movement of the stock by 11.7 per cent this week.

This week the company has also launched Karizma, a 223 cc bike, to cater the fast-growing power bike segment.

Dabur (Rs 41): The increase in the stock price of Dabur by 13.2 per cent this week has to be seen in light of strong financial numbers registered by the company in the recently-concluded fiscal.

For the year ending March 2003, the company posted a net profit of Rs 85.1 crore compared to Rs 64.4 crore for the year ending March 2002.

Asian Paints (Rs 370): Asian Paints has announced that it would consider a bonus issue to its shareholders at the board meeting to be held on May 28.

This appears to have enabled the stock price to rise by 9.1 per cent this week.

Top gainers and losers: The top five gainers of the week are MRPL (63.6 per cent), Mather and Platt (48.3 per cent), Ashima (47.4 per cent), Adani Exports (44.3 per cent) and Alok Industries (43.4 per cent).

The top five losers of the week are Moonstar (57.1 per cent), Nesco (35 per cent), Seagull Leafin (21.7 per cent), Jain Irrigation Systems (19 per cent) and JIK Industries (18.2 per cent).

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