Financial Daily from THE HINDU group of publications
Sunday, Jul 06, 2003
Financial Daily from THE HINDU group of publications Sunday, Jul 06, 2003 |
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Investment World
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Stock Markets Markets - Commentary Textile stocks well-clothed Nath Balakrishnan
Textiles: Stocks of this sector continue to be in the limelight with companies such as Raymond, Indian Rayon, Arvind Mills and Alok Industries. The domestic market for readymade garments continues to hold out promise. Also the dismantling of export quotas come January 2005 should also provide Indian textile outfits a shot in the arm. Pharma: The sector continues to be in a state of sound health. The action that was till recently confined to mid-cap stocks such as IPCA, Lupin, Glenmark and Aurobindo Pharma spread to the big names as well with Dr. Reddy's, Ranbaxy and Cipla joining the party. Steel: A global recovery in steel prices coupled with an improvement in business prospects has perked up prices of steel stocks, with stocks such as SAIL, Tata Steel and Essar Steel posting smart gains over the past few weeks. Banking: Just when there was speculation that the banking rally was slowly losing steam, some stocks in this sector came back into fancy with an upmove over the past week.
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