Sterlite Industries India (SLT) edged up 1.1%. The company recently reported 19% year-over-year increase for its fourth quarter mined metal production to 194,000 tons, led by higher contributions from Rampura Agucha and Sindesar Khurd mines. Also, zinc production was up 29% during the same quarter.
WNS Holdings (WNS) was at the helm of losers, declining 3.5%. The company is scheduled to release its fourth quarter and full-year results on April 20, 2011. iGATE (IGTE) slipped 3.2% at close last week. The company plans to offer senior notes of $770 million in principal amount to partially fund its pending Patni acquisition.
Cognizant Technology Solutions (CTSH) dipped 2.6%. The company is likely to report its first quarter 2011 earnings on May 3. 2011 before the market opens.
ICICI Bank (IBN) eroded 1.6% value last week. However, leading a consortium of 13 other lenders, the bank acquired 23.37% stake in Kingfisher, declining the founder shareholders' stakes to 58.61% from 66.28%. Infosys Technologies (INFY) fell 1.4%.Brazil: Winners and Losers Ultrapar Participacoes (UGP) topped the advancers' list with gains of 6.2% at the end of the past week. Subsequent to the company unveiling its plans to convert all its shares into voting stock, UGP shares ramped up gains. Meanwhile, as per the company's filing, shareholders will receive one voting share for each preferred share after BMF & Bovespa approve the company's request to be listed on the Novo Mercado - a section of the Sao Paulo exchange with stricter requirements for disclosure. Gafisa (GFA) increased 6.0% after Zacks Investment Research upgraded the company's shares to neutral from the earlier underperform. Major telecom player, Brasil Telecom (BTM) accumulated 5.1% last week. Petrochemical company, Braskem (BAK) gained 4.0% at close last week. The company announced last week to add capacity for PVC and polyethylene by 2015. PVC expansion will be through a capacity addition of more than 400 million pounds in Brazil during the first half of 2012. Polyethylene addition is through a larger joint venture project between Braskem and Mexican petrochemicals maker IDESA, which will result in more than 2 billion pounds of capacity each for PE and ethylene feedstock. Communications service providers TIM Participacoes (TSU) and Tele Norte Leste Participacoes (TNE) gained 3.7% and 3.6% during the past week. Reversing the prior week's losses, Net Servicos de Comunicacao (NETC) gained 3.3%. Centrais Eletricas Brasileiras SA (Eletrobras) (EBR) edged 3.2% higher. Last week, Fitch upgraded its foreign currency IDR to BBB with a stable outlook from the earlier BBB-.
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