WNS Holdings ( WNS) was a major loser last week, slumping 9.1% after research analysts at Credit Suisse downgraded the stock to "neutral" from "outperform". Moreover, JP Morgan maintained its "underweight" rating on the stock on estimated below-industry average revenue growth during 2011. Meanwhile, the company has lowered its revenue guidance for 2011 to $367 million from the earlier $363 million to $378 million. Wipro Technologies ( WIT) continued its downtrend, losing 6.1%. Last week, the company's third-quarter revenue missed the consensus estimate of 47 analysts polled by Bloomberg. However, the company's profit increased 10%, in line with the forecast. Sterlite Industries ( SLT) dropped 5.3%. Analysts at Zacks Investment Research downgraded the stock to "neutral" from "outperform" last week. Tata Motors ( TTM) dipped 5.1%, notwithstanding a 19% growth in December global vehicle wholesales. Mahanagar Telephone Nigam ( MTE) fell 4.1%. Brazil: Winners and LosersEmbraer ( ERJ) continued its winning streak for the second consecutive week to top the advancers' list, gaining 8.1%. Last week, RBC Capital raised its price target on the stock to $35 from the earlier $30, assigning a "sector perform" rating. Braskem ( BAK) followed, on an unusually huge trading volume increase, up 3.1%. TIM Participacoes ( TSU) gained 2.4%. Last week, Brazil's telecom regulator Anatel revealed that Brazil's mobile phone subscriptions were up 16.7% in 2010, compared to 2009, with Tim garnering a 25.1% market share to occupy the third spot (in terms of market share). The first spot is occupied by Vivo Participacoes, the second by America Movil SAB de CV, which both trade on the NYSE. Another cellular telecom service provider, Vivo Participacoes ( VIV), increased 1.5% during the past week. For the year-ended 2010, the telecom provider was ranked first, with a market share of 29.7%. Joining the rallying telecom stocks on news of growing mobile phone subscriptions in Brazil during 2010, Tele Norte Leste Participacoes ( TNE) edged up 1.1% last week. Topping the losers' list last week was Net Servicos de Comunicacao ( NETC), down 12.8%. Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) ( SBS) plummeted 9.7%. However, SABESP said last week it is using recycled material to build an $18.3 million water supply system in Osasco city, which has reduced construction costs by almost half. Companhia Energetica Minas Gerais (CEMIG) ( CIG) dipped 8.4%. Companhia de Bebidas das Americas (AmBev) ( ABV) continued to lose for the second consecutive week, dropping 7.4%. Last week, Goldman Sachs downgraded the stock to "neutral" from "buy," stating that the company may miss its fourth-quarter earnings estimates due to bad weather pressurizing volumes.