Financial Daily from THE HINDU group of publications
Sunday, May 11, 2003
Financial Daily from THE HINDU group of publications Sunday, May 11, 2003 |
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Investment World
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Stock Markets Markets - Commentary Bharat Forge up 6 pc on improved performance G. Madhan
HDFC (Rs 331): The stock price of HDFC fell by 7.8 per cent this week on the back of lower-than-anticipated quarterly numbers. The company' net profit grew by 15.8 per cent to Rs 239.2 crore for the quarter ending March 2003, as against the corresponding quarter of the previous year. Income from operations during the period also rose 9.2 per cent to Rs 789.2 crore. Balaji Telefilms (Rs 60): The stock price of Balaji Telefilms plummeted this week by 8.1 per cent. This has to be seen on the back of the reports that Sony Entertainment Television has decided to take the company's serial Kahani Teri Meri off the air. Dr Reddy's Labs (Rs 836): The stock price of Dr. Reddy's Labs dropped this week by 4.9 per cent. The not so positive outlook of the company's earnings in the current fiscal appears to have dragged down this stock. Eveready Industries (Rs 15): The stock price of Eveready Industries increased by 11.7 per cent this week. The company moved from red to black with a net profit of Rs 11.1 crore for the year ended March 2003, after a loss of Rs 153.3 crore in the corresponding previous fiscal. BHEL (Rs 247): The stock price of BHEL grew by 6.6 per cent this week. The passage of the Electricity Bill, securitisation and power reforms coupled with strong quarterly growth registered by the company in the recent past appears to have aided the northward movement of this stock. TVS Motor (Rs 459): The stock price of TVS Motor rose by 6.8 per cent this week. The company has launched three new racing bikes this week, the TVS 125X, 250X and the 400X, a collaborative effort between its research and development wing and offshore consulting institution, Engines Engineering of Italy. Eicher Motors (Rs 85): The stock price of Eicher Motors increased this week by 1.7 per cent. This has to be viewed in the light of strong growth of the company's commercial vehicle sales in the domestic market, by 44 per cent to 580 in the month of April, as against 402 sold in the corresponding period of the previous year. Bharat Forge (Rs 287): The spurt in the stock price of Bharat Forge by 5.8 per cent this week has to be seen in the back of strong financial performance registered by the company. In the financial year 2002-03, the company returned a net profit of Rs 81.1 crore (Rs 21.3 crore) on total income from operations of Rs 689.2 crore (Rs 473.9 crore). The company has also recommended a dividend of 60 per cent. Top gainers and Losers The top five gainers of the week are Jain Irrigation Systems (59.7 per cent), Ahmednagar Forgings (42.6 per cent), Investment Trust of India (40.9 per cent), Kwality Dairy (39.2 per cent) and Solectron Centum Electronics (36.2 per cent). The top five losers of the week are Monnet Industries (44.1 per cent), Dutron Polymers (40.4 per cent), Control Print (21.8 per cent), Micro Technologies (17.6 per cent) and Foods & Inns (16.4 per cent).
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