THE HINDU BUSINESS LINE
Financial Daily
from THE HINDU group of publications

Tuesday, May 30, 2000

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Markets

Fast track
Will monsoon gains bring permanent relief?
THE markets have shown some firm trends in the past few trading sessions despite continuing weak trends in the technology stocks.

Impact
Satyam Computer: Dogged by rights
THE Satyam Computer' stock may continue to show price weakness in the wake of a controversy over issuance of shares within the promoter group. The stock price was rocked in Friday's trading following shareholder displeasure over allotment of shar es by Satyam Enterprises (at Rs. 10) and renunciation of rights by the Satyam Computer. The two companies were subsequently merged with a swap ratio of 1:1. Though the controversy has cropped up much after the merger process wa s through, it may continue to dog the share price in the short-term.

Geometric Soft: Enlarging client base
THE possibility of Geometric Software Solutions entering into long-term contracts with three Japanese customers may underpin the trends in the stock price in the near term. The company has indicated that it is in talks for a long relation ship. If these materialise, it would strengthen the company's growing presence in the Japanese markets. As this would also spread the geographical revenue profile, it augurs well from a medium to long-term perspective. In anticipation of concret e announcements in this regard, the Geometric Software stock may show firm trends in the short-term.

Stocks
Satyam loses 4.34%
THE Calcutta Stock Exchange on Monday saw selling in the Satyam Computer counter but Zee Telefilms and HFCL were up on buying.

Pharma, cement scrips find the going good
THE Bombay Stock Exchange was in favour of the investor on Monday as the Sensex continued its positive trend from Friday by closing up 105.14 points (2.57 per cent) at 4,189.85 from Friday's close of 4084.71. It reached an intra-day high of 4,222.65 and a low of 4,064.46.

Technical Analysis
Uptrend steady
THE uptrend in the S&P CNX Nifty and the BSE Sensex survived and made steady progress on Monday. Market sentiment, however, worsened, continuing to strongly favour the bears.


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