Index Drivers

Cipla

This week closing: Rs 927.55

Previous closing: Rs 998.90

The stock lost over six per cent this week on the back of some funds reducing their exposure to the stock. The stock has slipped from Rs 1080 levels in the beginning of May to current levels. However, given its strong fundamentals and the upsides from the exports from Omeprazole, the stock is expected to rebound from the current levels.

Hero Honda

This week closing: Rs 311.60

Previous closing: Rs 335.45

Faced with redemption pressure, there has been profit booking on the stock at around the Rs 331 level, by couple of big mutual funds. Besides, towards the end of last week, there were reports that the Hero Group would be looking at participating in the divestment process of atleast two ITDC hotels.

Although this does not mean that the resources required for the new venture would be sourced from the flagship company, the news did not quite go down well with investors on the counter.

Mtnl

This week closing: Rs 153.90

Previous closing: Rs 132.50

With early divestment of MTNL doing the rounds in the market, the scrip turned out to be one of the favourite PSU counters during the last week.

In addition to the speculative buying, it is believed that couple of foreign and domestic funds has been aggressive buyers at the counter, in anticipation of upward revision of local call and rental charges which will immensely benefit the company. The counter is expected to witness stiff resistance at Rs 160 levels.

Ranbaxy Laboratories

This week closing: Rs 874.50

Previous closing: Rs 834.65

The stock rose nearly five percent this week on the news that the company has struck a licensing deal with German firm Schwarz Pharma AG.

As per the deal, the German firm will develop and launch Ranbaxy