The Hindu Business Line : Hughes Software up 7.2 pc on $30-m order

Moser Baer (Rs 230): The stock price of the compact disc manufacturer went up this week by 6.2 per cent. This has to be viewed in the back of talks that the company is likely to hike the price of recordable compact discs shortly. The company had earlier announced that it would consider a price hike in the fourth quarter of current fiscal.

Hughes Software (Rs 179): The rise in the stock price of Hughes software by 7.2 per cent this week has to be viewed in the context of business order obtained from Lucent Technologies. The order is valued at $30 million and is spread over three years. Lucent Technologies will outsource the software development and maintenance support for selected wireless products from Hughes Software.

Hero Honda (Rs 227): The stock price of two-wheeler major Hero Honda climbed this week by 6.6 per cent. This has to be viewed on the back of the announcement that the technical agreement with Honda Motors would be renewed when it comes up for consideration in June 2004.

Shaw Wallace (Rs 34): The increase in the stock price of Shaw Wallace has to be seen in light of clarification issued by the company that it was not planning to divest up to 50 per cent of its equity stake in its beer business to the brewery major SABMiller.

Divi's Labs (Rs 181): The stock price of pharmaceutical manufacturer Divi's Labs surged this week by 29.1 per cent. Earlier this week, the stock was listed on the stock exchanges at a premium of over 25 per cent to the issue price of Rs 140. The initial subscription of Divi's Labs had received good response from the investors with over-subscription of 15 times.

Moschip Semiconductor (Rs 27): The stock price of Moschip Semiconductor rose this week by 19.5 per cent. The company has announced that a meeting of the Board of Directors is scheduled on March 20, 2003 to discuss and consider proposals of Merger/Amalgamation of Verasity Technologies Inc with the Company.

Dr. Reddy's Labs (Rs 878): The stock price of Dr. Reddy's labs went down this week by 1.3 per cent. Dr Reddy's Laboratories Ltd has announced that it has filed an Abbreviated New Drug Application (ANDA) with the US Food and Drug Administration for Olanzapine Orally Disintegrating Tablets (ODT).

Dr Reddy's notified Eli Lilly, upon which the latter filed a lawsuit against the Company in the US Court for the Southern District of Indiana, alleging patent infringement.

Top Gainers and Losers

The top five gainers of the week are SMIFS Capital Markets (20 per cent), Narmada Gelatines (19.7 per cent), Moschip Semiconductor (19.5 per cent), Galaxy Entertainement (16.4 per cent) and Kandagiri Spinning Mills (15.7 per cent). The top five losers of the week are Ind-Swift (29.5 per cent), Gslot Entertainment (26.8 per cent), Hind Industries (24.3 per cent), Nile (23.6 per cent) and BSEL Information Systems (23 per cent).

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