Infy, Hughes Software scrips shine on the bourses
Mumbai: The local bourses benefited from strong second quarter financial performance posted by corporate majors such as Hughes Software, Infosys Technologies and HDFC Bank. The BSE Sensitive Index rose 4.73 per cent to close at a 39-month high at 4748.90. The S&P CNX Nifty surged 73.80 points or 5.09 per cent to 1523.10. It was one of the best weeks for the Indian ADRs, courtesy Infosys' second quarter performance. Counters such as HDFC Bank, ICICI Bank and Satyam Computer recorded their 52-week highs during the week while Infosys and Wipro moved close towards their year peak, says a newspaper report.

Infosys Technologies ADRs surged over seven per cent last week to close at $77.56 ($72.41) after it announced a higher net profit of Rs 300.16 crore for the quarter ended September 30, 2003 compared with Rs 224.50 crore for the quarter ended September 30, 2002. The company's revenues rose by 29 per cent to Rs 1,134.75 crore. The IT major also revised its revenue guidance upwards to Rs 1,171-1,181 crore (consolidated) for the third quarter and Rs 4,623-4,658 crore for the year ended March 2004.
Back to News Review index page  

Shareholders' nod for Alok Industries delisting
New Delhi: The shareholders of Alok Industries Ltd (AIL) have approved the delisting of shares of the company from the Ahmedabad, Delhi and Chennai stock exchanges. AIL is part of the Jiwrajka group and has manufacturing interests in the textile sector.

A release from the company to the Bombay Stock Exchange said the nod of the shareholders was received in the annual general meeting of the company held on 30 September. The members have also approved on recommendation of the directors, an equity dividend of Re 1 per share for the financial year 2002-03.
Back to News Review index page