Financial Daily
from THE HINDU group of publications

Tuesday, May 01, 2001





Fast track
Sluggish earnings sends TVS Suzuki skidding
THE broad markets continue to be in weak terrain despite a recovery of sorts in Monday's trading after Friday's sharp downtrend. In the past fortnight, much of the price action was centered on the IT sector stocks both on the way up as well as down on Friday.

Kesoram Ind: Buyback beckons
The Kesoram Industries' stock may show firm trends with the possibility of a buyback programme looming large. The company had recently cleared the merger of three group companies in diverse businesses which had to flat trends in the stock price.

Reliance Petroleum: Higher stake
THE hike in the limit for stake by foreign institutional investors by Reliance Petroleum may be a non-event for the present as far as the stock price is concerned. FII holdings in the company are well below this level.

Raymond: Buyback over and done with
INDICATIONS that Raymond has completed its stock buy-back programme may do no good for the stock price in the near term. It effectively removes the company as a buyer of its stock for some time to come.

Buying spree in tech stocks
MUMBAI: EXPECTATIONS over the Securities and Exchange Board of India easing the current restrictions on short sales, brought positive sentiment to the local bourses on Monday.

Infosys chips in with handsome gains
THE stock markets rebounded with a vengeance on Monday after crashing about 134 points on Friday last. Thanks to good buying support, equities, particularly, IT stocks, rallied smartly.

Technical Analysis
Bull domination
MONDAY'S trading witnessed total domination by the bulls. The index gained more than two per cent with respect to Friday's close. The intra-day movement in the index was around 27 points. Bears could not consolidate the strong position held by them on Fr iday. Nonetheless, the prevailing downtrend in the index remained intact. The market sentiment reading still stands in favour of the bears.

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