Financial Daily from THE HINDU group of publications
Sunday, Aug 03, 2003
Financial Daily from THE HINDU group of publications Sunday, Aug 03, 2003 |
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Investment World
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Stock Markets Markets - Commentary Maruti gains 8% G. Madhan
IGate Global (Rs 163): IGate Global has acquired a 51 per stake in business services provisioning start-up, Quintant Services for Rs 86.9 crore and appointed Mr Phaneesh Murthy (formerly world wide head of sales and marketing, Infosys Technologies) as its CEO. The stock has spiked 38.2 per cent. Maruti Udyog (Rs 188): Driven by the strong sales growth to the passenger car segment the stock price of Maruti Udyog rose 8.1 per cent. Maruti has reported a 70 per cent jump in volumes in July. Infosys (Rs 3784): The success of the company's sponsored ADS and the 26 per cent premium has driven up the stock price of Infosys. The stock was up 7.7 per cent. Bajaj Tempo (Rs 250): On the back of settlement of dispute between the Bajaj family members and aided by the strong earnings growth, the stock was up 34 per cent. Mico (Rs 6,307): Auto ancillary manufacturer Motor Industries surged 10.6 per cent on the back of robust quarterly financial numbers and strong growth witnessed by the passenger cars segment. Aventis Pharma (Rs 435): Aided by the strong earnings growth in quarter ending June 2003, The stock rose by 19 per cent. Gujarat Ambuja Cement: The stock was up 9.2 per cent on the back of good earnings numbers. Loans of $ 80 million sourced at fine rates may also lead to firm price trends. Elgi Equipments (Rs 44): Compressor manufacturer Elgi Equipments surged 18 per cent. For the quarter ending June, the company has recorded a net profit of Rs 5.9 crore (Rs 4.1 crore). Alfa Laval (Rs 371): Alfa Laval notched a 14 per cent gain. The company this week reported a sharp 54 per cent jump to its net profits to Rs 16.2 crore for the quarter ending June 2003, from the corresponding prior period. SAIL (Rs 23): Steel Authority of India moved up by 10.6 per cent driven by expectations of an increase in domestic steel prices and its turnaround in the April-June quarter.
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