India: Winners and Losers
Wipro (WIT) 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 (CTSH) and Tata Motors (TTM) 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.iGATE (IGTE) closed 7.5% higher. Zacks Investment Research reaffirmed a neutral rating on the stock. Mahanagar Telephone Nigam (MTE) and Infosys (INFY) 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%. Banking stocks ICICI Bank (IBN) and HDFC Bank (HDB) 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. WNS Holdings (WNS) 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. Telecom operator Vivo Participacoes (VIV) 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 Vivo Participacoes (VIV) 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 (TNE) and Brasil Telecom (BTM) gained 10.1% and 7.2% at close last week, respectively.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV