For months we have been tracking IT sector on this thread. It is remarkable that how our common sense which told us to hold off Long Term purchases in this sector has prevailed. It reaffirms my belief that it is useless to try to predict 'bottoms'. Regardless of the current upswing in US markets, the fundamental picture is not at all conducive to long term recovery. Lehman Bros. seems one step away from following in the foot steps of Bear Stearns. Fanni and Freddie hold $5.2 Trillion worth of debt - how much of that is bad only time will tell. Our IT co.s will need to turn inwards to maintain profitability, credibility and visibility on the global level. On a short term basis, there COULD be some light at the end of the tunnel. Watch Polaris, Niit Tech, HCL Infosystems, and Satyam.
| STOCK | 31 Mar 08 | 02 Apr 08 | 25 Apr 08 | 08 May 08 | 24 May 08 | 24 Jun 08 | 19 Jul 08 |
|---|
| 1$ = | Rs. 39.88 | Rs. 39.955 | Rs. 40.17 | Rs. 41.76 | Rs. 42.70 | Rs. 42.94 | Rs. 42.735 |
| Nifty | 4734.50 | 4820.00 | 4999.85 | 5081.70 | 4946.55 | 4191.10 | 4092.25 |
| 3IINFOTECH (70 - 160) | 98.90 | 100.35 | 118.40 | 127.05 | 123.65 | 104.45 | 94.30 (SS) |
| APTECHT (133 - 450) | 222.10 | 210.40 | 252.25 | 246.35 | 238.30 | 200.10 | 192.95 (S) |
| INFOSYSTCH (1255 - 2142) | 1439.90 | 1482.80 | 1684.30 | 1784.65 | 1828.75 | 1794.45 | 1547.40 (H) |
| MINDTREE (290 - 773) | 335.10 | 345.00 | 450.65 | 471.90 | 470.75 | 423.85 | 355.60 (H) |
| MOSERBAER (88.20 - 345) | 152.15 | 159.30 | 179.15 | 191.35 | 182.20 | 140.15 | 90.35 (SS) |
| MPHASIS (150 - 319) | 201.75 | 197.20 | 228.25 | 219.70 | 232.65 | 230.15 | 188.55 (SS) |
| NIITTECH (85 - 409) | 101.90 | 105.35 | 131.05 | 144.90 | 155.60 | 128.05 | 110.35 (H) |
| PATNI (170 - 550) | 222.30 | 235.90 | 250.30 | 271.35 | 275.90 | 237.50 | 234.10 (SS) |
| POLARIS (62 - 141) | 78.60 | 79.95 | 100.80 | 107.00 | 104.90 | 81.05 | 81.75 (SB) |
| ROLTA (200 - 396) | 261.35 | 270.35 | 329.00 | 311.60 | 299.25 | 281.65 | 274.25 (SS) |
| SATYAMCOMP (305 - 542) | 396.35 | 408.40 | 444.70 | 471.70 | 482.50 | 453.35 | 383.55 (SS) |
| TCS (716 - 1210) | 810.45 | 851.25 | 889.30 | 947.00 | 932.40 | 844.40 | 793.85 (S) |
| TECHM (575 - 1550) | 705.25 | 725.45 | 812.55 | 934.25 | 829.30 | 756.50 | 667.25 (SS) |
| TULIP (662 - 1168) | 855.40 | 843.05 | 858.45 | 940.30 | 983.85 | 1048.40 | 913.60 (S) |
| WIPRO (324 - 552) | 432.10 | 415.25 | 466.35 | 496.70 | 481.10 | 470.15 | 366.25 (S) |
Please feel free to voice your opinions here, contrary or otherwise.
