Sify Technologies (SIFY) stood second in the gainers' list, adding 7.2%. The company is due to report its second-quarter financials ended September 30. WNS Holdings (WNS) rose 6.9% last week after reporting a 5.6% increase in second-quarter total revenue to $154.2 million, compared to the year-earlier period. Further, net income amounted to $4.9 million from $1.4 million in the comparable quarter last year. For 2011, the company expects revenue between $363 million and $378 million and adjusted net income to range between $43 million and $46 million.
Wipro emerged the top loser, declining 7.3%, after Credit Suisse downgraded the stock to "neutral" from "outperform." The company missed its quarterly profit estimates as higher wages affected margins. Wipro has secured an IT services contract from Electricity North West, an electricity distribution network in North-West England, to deliver end-to-end transition and transformational services to maintain its IT systems through a managed service framework.
Rediff.com (REDF) and Cognizant Technologies (CTSH) dropped 5.7% and 4.1%, respectively. Cognizant will announce its third-quarter results Monday, before the market opens. Investors are concerned whether the company will best its earlier quarter results and top its rivals' earnings released earlier.
Brazil ADRs: Winners and LosersAmong Brazilian ADRs, Companhia Brasileira De Distribuicao (CBD), Brazil's biggest food and non-food retailer, climbed 9.1% last week. For September, the retailer's supermarket sales were up 4.8%, compared to the year-ago period, Brazilian Association of Supermarkets reports. The second gainer, Petroleo Brasileiro (Petrobras) (PBR), accumulated 7% during the past week. The company signed a 10-year contract worth $820 million with Japan-based Toyota Tsusho for supplying 143,000 cubic meters of ethanol annually. The Japanese company will utilize the ethanol as a raw material in a thermoplastics polymers plant it is building in Taiwan. Gerdau (GGB) was up 5.5% last week. Among the week's losers, financial industry players Banco Bradesco (BBD) and Itau Unibanco Holding (ITUB) were the major decliners, down 2.3% each. For the third quarter, although Bradesco's financial results beat analysts' estimates, it recorded a recurring profit of $1.5 billion, as compared to a profit of $1.8 billion a year ago.
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