Weekly Market Recap

Continuing its trend, volatility remained the name of the
game this week. The BSE Sensex registered a gain of 1.2%
while the Nifty registered a gain of 1.1%. Foreign
Institutional Investors (FIIs) have been net sellers to the
tune of Rs. 1,203 crore, while the Mutual Funds have been
net sellers to the tune of Rs. 122 crore.

The wholesale price index inflation rose up to 11.91% for
the week ended July 05 as compared with 11.89% in the
previous week, mainly due to higher prices of some food
items and various petroleum products.


Sterlite Technologies Ltd, a leading global provider of power
transmission conductors, optical fibres and
telecommunication cables, has won four contracts with
leading infrastructure companies in Nigeria, Uganda,
Algeria and Bangladesh. The contract are worth US $ 1.55
crore. As per the requirement, the power conductor would
be supplied between July and November 2008.


BEML has received orders worth Rs. 34.50 crore from
African countries. It will supply 35 equipment worth Rs.
21.50 crore to Tunisia and 18 equipment valuing Rs. 13
crore to Malawi. The equipment ranges from small size
bull dozers to back hoes loaders, wheel loaders and
hydraulic excavators. Recently, it has also bagged mining
equipment orders worth Rs. 207 crore from Indonesia. To
increase its overseas market penetration, BEML has set up
offices in China, Malaysia and Brazil. Its current order book
stands at Rs. 4,000 crore.


TRF Ltd has received an order worth Rs 413.85 crore for
Design, Engineering, Manufacture, Supply, Erection, Testing
and Commissioning of Coal Handling Plant on Turn-key
basis, for the 2 X 600 MW Raghunathpur Power Project
(Phase-1) from Damodar Valley Corporation. The company
is engaged in the design, manufacture, supply, installation,
and commissioning of engineered equipment and systems
in the areas of handling, loading and unloading, processing,
stacking, reclaiming, and blending of bulk materials in India.

BGR Energy has secured perhaps the largest EPC contract
in the country, for the 2x600 MW Kalisindh Thermal Power
Project at Jhalawar from Rajasthan Rajya Vidyut Utpadan
Nigam Ltd.(" RRVUNL).The lump sum contract value is Rs.
4900.06 crore and includes design, engineering, supply of
Boiler,Steam Turbine Generator and complete Balance of
Plant equipment.

The rapid slide in the markets in the last six months once
again underlies the critical role of sentiments in the
investment world. Who would have imagined such a
pessimistic scenario in just six months in December? This
question gives us enough reason to be sanguine about the
ensuing future. For, to repeat the oft quoted cliché, bullish
markets are born in tunes of extreme despair, just as bearish
markets are during extreme euphoria. Finally, the patient
investor will make the profit. Here's raising a toast to her
and wishing that her tribe increases….