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

Friday, April 27, 2001

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Markets

Fast track
Capital goods stock excel
STOCK prices in the past few days continued to dance to the tunes of performance announcement. Corporate action such as buyback and restructuring also held sway over the markets. Among the major gainers during the past few days in the non-technology segm ent were stocks from sectors such as capital goods, banks, cement and consumer goods.

Impact
Madura Coats: Unlikely to enthuse
THE proposed buyback programme of Madura Coats may not enthuse market sentiment for the stock. The company has proposed to buyback its shares (up to 25 per cent of the equity of Rs 72.18 crore) at a price not exceeding Rs 30 per share.

Satyam Computer: FII take entire cake
THE Satyam Computer stock may show flat trends in the wake of the FII stake touching the threshold of 38 per cent. Beyond this level, any acquisition to the prescribed limit of 40 per cent would need RBI approval.

Kvaerner Cementation: No offer please
THE indications that the global level restructuring of ownership claims would not lead to an open offer under the takeover code may lead to sluggish trends in the Kvaerner Cementation stock.

Stocks
Ashok Leyland, Hero Honda major gainers
IF it's too good to be true, it probably is. The eight-day rally finally snapped and led to the stock market falling out of investor's favour during Thursday's trading session.

Lyons Range
THE Calcutta Stock Exchange on Thursday saw the technology shares going down on square-off pressure because of local settlement problem. The CSE-50 closed at 120.97 points against the previous closing of 122.43. Among the prominent losers were DSQ Softwa re, HFCL, Global Tele, Silverline, Pentamedia Graphics, Rolta, Zee and Satyam Computer. The total turnover of the exchange stood at Rs 221.73 crore. -- Our Bureau

Technical Analysis
Bear domination
INITIAL hours of Thursday's trading witnessed domination by the bulls. They took-up the index by 18 points but could not sustain the bear pressure. Bears wiped out their gains and were even successful to the extent of bringing down the index by around 1 0 points with respect to Wednesday's close.


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