India: Winners and Losers Rediff.com ( REDF) topped the advancers' list jumping 30.6% at close last week. Tata Communications ( TCL) accumulated 12.7% after HSBC upgraded the stock to neutral from the earlier underperform. 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.