Monday, January 10, 2011

Vascon Engineers Among the "Top Movers In BSE 500"

Markets were in good cheer in 2010's last week of trading, with the bellwether BSE Sensex holding above the 20,000-mark. The NSE Nifty and the Sensex both closed with a gain of 2 percent for the week, taking into stride higher inflation figures on the back of escalating food prices.

Broader indices were also in line with the bellwethers, with the CNX 500 up 2.1 percent, the BSE Midcap up 2.3 percent and the performer, ending the week with a gain of 3.4 percent. Sector performance was also fairly even for the most part. The BSE Realty index led the pack, with a gain of 3.3 percent after being battered for most part of the year. The BSE Auto, Bankex, FMCG, IT, Metals and PSU indices gained between 1.3 and 2.8 percent.

The week saw the market debut of Ravi Kumar Distilleries and Punjab & Sind Bank. Both made healthy gains, 26 and 7 percent, respectively, from their issue prices.

Among individual stocks, Hindalco hit its 52-week high of Rs. 247 on the back of strong copper prices. The stock of Strides Arcolab gained 5 percent for the week as it announced the sale of product porfolio of its US joint venture to Pfizer Inc.

The stock of Dishman Pharma jumped 13 percent on reports that the company will manufacture cardiac drug ingredients for a European company in a deal worth $50 million.

On the back of reports that Emami Paper Mills has earmarked mora than Rs. 2000 crore to expand capacities and a possible foray into the segments of pulp and writing paper, the stock ended the week with a gain of 22 percent.

Possibilities of benefiting from better rates as its rigs come up for renewal in a scenario of rising crude prices sent the stock of Aban Offshore to a gain of 10 percent for the week.

The stock of BF Utilities surged to a gain of 9 percent after the company's board approved the sale of a minority stake in its subsidiary Nandi Economic Corridor Enterprises for Rs. 500 crore.

The stock of Gitanjali Gems closed with a gain of 6 percent after the company acquired a 90 percent stake in Milan-based Giantti Italia SRL, a jewelery company.

Top Movers in BSE 500
Stock Current Mkt Price (Rs.) Returns
Gammon Infra 25 21
Jaypee Infra 78 19
Hindustan Oil 236 18
Ruchi Soya 120 17
Bartronics 89 17
Praj Inds. 84 17
KEC Intern. 105 17
MMTC 1170 14
Vascon Engrs. 141 14
Dishman Phar. 157 13

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