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

Wednesday, June 13, 2001

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Markets

Fast track
EIH: Room for improvement?
THE performance of stocks in the hospitality industry over the last fortnight has been in line with expectations. The earnings performance of the major companies namely EIH and Indian Hotels for fiscal 2000-2001 has been in line with expectations. Among the major hotel scrips, EIH, Indian Hotels and Asian Hotels have all been treading in a positive territory.

Impact
Foseco: Compelled by open offer
THERE could be some upside in the Foseco India stock in the short term following a SEBI directive to BP Amoco for an open offer.

India Gypsum: Flat trends
THE acquisition of holdings in India Gypsum by BPB Holdings India Pvt Ltd may not have any influence on the stock price. The latter plans to buy 9,00,000 equity shares from Hyderabad Industries.

Stocks
Fujitsu ICIM, Foseco India make merry
THE BSE Sensex continued to move in a narrow range on Tuesday, without providing any indication of near term movements. After appreciating by around 13.4 points on Monday's trading, the BSE Sensex reversed course by shedding 10.93 points during the day' s trading to settle at 3498.39 points.

Lyons Range
THE Calcutta Stock Exchange on Tuesday saw an insipid trading and sideways movement in prices. The Satyam Computers scrip witnessed some activity courtesy no-delivery period.

Technical Analysis
Indecisive movement
THE market remained indecisive throughout Tuesday's trading. The Nifty moved within a close band of 12 points. Both the bulls and bears could not gain much from the day's trading. The Nifty closed with a marginal loss of four points with respect to Monda y's close. The market trend continued to be in the sideways direction. The sentiment remained bearish.


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