India: Winners and Losers
led the pack of gainers, rising 8.8%. The bank last week raised interest rates on home loans by 25 basis points, both for its new and old borrowers. Also, the bank hiked its retail prime lending rate to 15.5%. Another bank,
, advanced 3.4%.
(SIFY - Get Report)
rose 6.9% last week, after it became known that Sify became the first ICT player in India to activate its capacities in the Europe-India Gateway (EIG) submarine cable system. Sify's exclusive partnership with GBI (Gulf Bridge International) to land their Cable System in India, scheduled to go live in the second half of 2011, will consolidate its position as a major ICT player.
gained 6% last week. The company recently launched a prototype of the Tata Pixel, the first car custom-designed for the European market. Last week, the Jaguar Land Rover arm of Tata Motors announced it would start production in India with assembled units and parts shipped in kit form to the subcontinent from the U.K.
was up 4.8% last week.
Dr. Reddy's Laboratories
gained 4.3%. The pharmaceutical major is considering establishing a manufacturing facility in Russia and is currently holding talks with the government there.
topped the losers' list last week, shedding 4.9%. Elsewhere,
lost 1.2% last week.
Among other losers,
edged 0.7% lower. Lastly,
Cognizant Technology Solutions
Brazil: Winners and Losers
Companhia Energetica de Minas Gerais (CEMIG)
(CIG - Get Report)
headed the gainers' list last week, rising 9%.
Companhia de Bebidas das Americas-AmBev
followed, with a gain of 5.9%. Last week, the Brazilian brewer reported 12% growth in net sales with a margin expansion of 310 basis points. Additionally, the company announced a dividend payment of 0.56 Brazilian real per ordinary share and 0.616 real per preferred share. The company reiterated its commitment to invest $1.5 billion in new factories and distribution centers.
was up 5.8% after reporting an 81% quarter-on-quarter jump in net earnings for 2010 fourth quarter. Net sales were up 18%.
Centrais Eletricas Brasileiras (Eletrobras)
gained 5.6% during the week.
, Latin America's second-largest petrochemicals company, advanced 5.5% last week. The company is planning to sell shares to fund future investments to boost output in the region. The company said it would decide on funding sources between 2012 and 2016.
Companhia Brasileira De Distribuicao
gained 4.5%. The Brazil-based food retailer is planning to invest in $847 million to expand its operations in 2011.