Financial Daily from THE HINDU group of publications
Sunday, Jul 20, 2003
Financial Daily from THE HINDU group of publications Sunday, Jul 20, 2003 |
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Investment World
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Stock Markets Markets - Commentary Tata Infomedia gains 38 pc Nath Balakrishnan
Mercator Lines (Rs 75): Close on the heels of the announcement that the company had obtained a Rs 100-crore order from MRPL, the stock of the shipping company surged by over 90 per cent during the just-ended trading week. Tata Infomedia (Rs 157): The company, which forayed into film production last year, had its share of the limelight as it put on over 38 per cent in what was otherwise a week during which bears held sway over the markets. TVS Autolec (Rs 124): The stock of this auto ancillary company rose by over 20 per cent. A sharp upmove was witnessed on Friday when it was announced that Sundram Fasteners would buy out the promoters' stake in the company. Vimta Labs (Rs 121): After having declared good results for the April-June quarter, the stock of the Hyderabad-based company that specialises in conducting clinical trials rose by close to 30 per cent. Hughes Software (Rs 271): Even as the Rupert Murdoch-controlled News Corp announced that it would make an open offer for 20 per cent of the company's equity at a price of Rs 232 per share, the stock perked up by over 7 per cent. Mastek (Rs 201): It turned out to be déjà vu for Mastek, as it saw its stock price tank by about 40 per cent in a week it declared its annual results. The stock had taken a similar hammering when it declared its numbers for the Jan-Mar 2003 quarter. Satyam Computer (Rs 174): With the sentiment towards tech stocks turning bearish, Satyam too was a casualty in the process. The company, which is due to declare its quarterly numbers on July 24, shed about 12 per cent. Hindustan Lever (Rs 152): In spite of expectations of a normal monsoon, which would benefit the likes of Hindustan Lever, the stock shed some its recent gains, as it fell by about 10 per cent over the last week.
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