India: Winners and Losers
topped the advancers' list jumping 30.6% at close last week.
accumulated 12.7% after HSBC upgraded the stock to neutral from the earlier underperform.
reversed its earlier week's losses and rose 8.3% last week. Senior executives at top IT companies in India forecast double-digit growth rates of 18%-22% for the year ending March 2011. Meanwhile, brokerage houses estimates a growth rate of 4% to 7% for the March 2011 ending quarter.
Cognizant Technology Solutions
increased 7.9% and 7.8%, respectively. Meanwhile, Tata Motors is in talks to buy a car factory from Poland-based Fabryka Samochodow Osobowych, which has an installed capacity of 150,000 cars a year and produces several car models through licensing pacts with global automakers such as GM Daewoo.
closed 7.5% higher. Zacks Investment Research reaffirmed a neutral rating on the stock.
Mahanagar Telephone Nigam
gained 7.3% each. Meanwhile, as inflation rate increases and wages and attrition rates of key staff rise, outsourcing contracts billing rates are likely to go up by 5%.
advanced 6.7% and 4.4% during the past week, respectively.
Even after the Indian market gained a huge 5.5% last week, only one stock registered losses.
erased 5.4% last week.
Brazil: Winners and Losers
Telecom operators in Brazil accumulated gains above 10% during the past week. It was revealed last week that Spain-based Telefonica, largest telecom group serving Latin America, is planning to invest $14.6 billion in Brazil during the 2011 to 2014 period leveraging on the country's rising demand for telecommunications services. Meanwhile, during the period 2007 to 2010 Telefonica has invested $9.6 billion in Brazil.
emerged the top gainer rising 11.8% during the past week. The stock advanced on takeover speculation after Deutsche Telekom agreed to sell its wireless unit to AT & T. An industry analyst commented that Tim being a focused wireless service provider, it can be a likely target among competitors offering landlines and cable.
Major telecom service provider
was up 10.5%, after its board of directors approved a dividend payment of $3.2 per share for 2010. The shares will be traded as ex-dividend as of April 1, 2011.
Tele Norte Leste Participacoes
gained 10.1% and 7.2% at close last week, respectively.