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

Friday, July 20, 2001

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Markets

Fast track
HDFC: Strong structure
HDFC has moved in a narrow band over the last fortnight to trade around Rs 655. Earlier in the week, the company announced its first quarter results for the financial year 2001-02. HDFC continues to post a robust growth in profit and what follows is a lo ok at the basic structure of the company.

Impact
Maars/Mascon: Falling flat
THE move to scrap the merger between Mascon Global and Maars Software may not have any notable influence on the valuation of the two stocks. The stocks have fallen considerably from their peak levels and the present price levels are a pale shadow of the valuation enjoyed some months ago. The merger has been scrapped due to the prevailing business and capital market conditions.

Dr Reddy's: Positive doses
DR Reddy's Laboratories' stock may show firm trends in the short term in the wake of favourable developments regarding its export thrust and R&D efforts. A US court ruling has paved the way for Dr Reddy's entry into the US market.

Stocks
Lyons Range
THE Ranbaxy scrip made an intraday gain of 3.85 per cent as it closed at Rs 521 at the Calcutta Stock Exchange on Thursday.

US slowdown worries add to trade woes
THE depressed mood continued at the stock markets on Thursday as well as stocks, particularly from infotech counter, witnessed a fresh setback. The persisting US slowdown worries coupled with disappointing numbers from NIIT spoiled the market mood from t he initial hour onwards.

Technical Analysis
Mild bear domination
THE bears dominated Thursday's trading till the mid-session. During the close, the bulls managed to recover partially. The intra-day movement in Nifty was around 12 points. It closed with a loss of six points with respect to Wednesday's close. The tren d of the index continued to be in the sideways for the second calendar day. The market sentiment reading stands in favour of the bears.


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