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 Stocks driven by earnings numbers Sowmya Sundar
Buoyed by impressive numbers, quite a few stocks have had a sharp bull run in the last few trading sessions - Elgi Equipments, SAIL, GE Shipping, Container Corporation, Bajaj Tempo, ACC, Bajaj Auto, Bharat Electronics, Cummins, MICO and Larsen & Toubro to name a few. BHEL weakened despite an impressive performance. Cementing gains: Both top and second-rung cement stocks were upbeat on the back of improving volumes, firm price trends and encouraging earnings numbers. Leading cement stocks such as Gujarat Ambuja Cements, ACC and Grasim shot up 14- 18 per cent in the last two weeks. Other smaller stocks such as Shree Cements, Dalmia Cements and India Cements too moved in too moved with the trend. Valuable room: Hotel stocks had a run on the back of improving fundamentals. Companies such as Indian Hotels, Oriental Hotels and EIH have declared good earnings announcements. TajGVK was the star performer of the week gaining 25 per cent to Rs 68 before settling lower at Rs 63. Mid-cap spurt: A few small and mid-cap stocks such as Prism Cements, Mercator Lines, by Mercator Lines, Man Industries, STI Ltd, Jyothi Structures, IVRCL Infrastructure, India Cements and Bongaigoan Refinery have been on a steady uptrend. Mercator Lines, a shipping stock has risen three-fold after it bagged a Rs 100-crore order
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