Financial Daily from THE HINDU group of publications
Sunday, Aug 24, 2003
Financial Daily from THE HINDU group of publications Sunday, Aug 24, 2003 |
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Investment World
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Stock Markets Markets - Commentary FMCG counters in focus Nath Balakrishnan
FMCG: Though not a sector that has been the cynosure of market attention in recent times, the prospect of a good monsoon and the positive impact it is likely to have on rural demand, perked up stocks of various hues. Notable gainers were ITC, Hindustan Lever, Asian Paints and Pidilite Industries. Telecom: An industry that has been in the limelight over the past few weeks, thanks to the regulatory pronouncements on the limited mobility versus cellular telephony controversy. With members on either side claiming that the verdict has been favourable to them, it came as no surprise that the markets too reacted likewise. Bharti Tele-Ventures, Tata Teleservices and MTNL have been buzzing with activity. Steel: Stocks belonging to the sector continued to rule form, though a few stocks did come off their highs during the just-ended trading week. SAIL continued to fly high, after having negotiated some pockets of turbulence that has resulted in a sobering of its valuations. The stock also had a positive rub-off on its counterparts within the sector with the likes of Essar Steel and Lloyds Steel also joining the party. Paper: Firming up of paper prices has ensured that companies constituting this sector post gains that do not exist merely on paper. Beneficiaries include West Coast Paper, TNPL, Seshasayee Paper and Rama Newsprint.
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