Pune companies rule the roost on BSE in Q2

On the back of encouraging performance during the quarter ended September 2005, 64 companies from the Pune region outperformed their peers in the stock markets.

The market capitalisation of 64 Pune-based companies increased 29.87 per cent between July and November 18 compared with 20.75 per cent appreciation witnessed by the BSE Sensex companies and 19.87 per cent by the BSE 500 companies.

Three companies, Transworld Info, Sanghvi Movers and Kirloskar Brothers saw their prices surge by more than 100 per cent. Sharp India, Indian Seamless Tubes, Taneja Aerospace, DS Kulkarni Developers, Ahmedabad Forgings and GL Hotels saw their prices surging between 50 percent and 100 per cent.

The shares prices of Bajaj Auto, Force Motors, Patni Computers, Deepak Fertilisers, Sai Services, Maharashtra Scooters, Envair Electro, Saint Gobain and Atlas Copco increased by between 25 and 50 per cent each. The market losers during the period were somewhat lesser known companies like Poona Dal, PCS Technologies, Hitech Plastics and Vintage Cards. KPIT Cummins and IndusInd Bank also lost ground during the period.

Higher growth in profits lifted the Pune-based stocks with almost all traded stocks hitting a new 52-week high since July 2005. Bajaj Auto was traded at an all-time high of Rs 2,057 and Kirloskar Brothers at Rs 258.20. The share price of GL Hotels touched to a new decade high of Rs 80.45 on Monday.

Sanghvi Movers, the second biggest gainers since July 2005 among Pune-based companies, rose to its new all-time high of Rs 427 on November 17, 2005. The stock has gained 116 per cent since July 2005 from the level of Rs 182.80 on June 30 to Rs 395 on Monday.

Trasnworld Info has appreciated by 175 per cent from Rs 7.32 to Rs 20.10.Bajaj Auto tops the market cap ladder among Pune region companies with a market capitalisation of 20,238 crore (Rs 202.38 billion). Two-wheeler giant was followed by Bharat Forge {M-cap of Rs 7,387 crore (Rs 73.87 billion)}, Patni Computer {Rs 5,916 crore (Rs 59.16 billion)}, Cummins (I) {Rs 2,973 crore (Rs 29.73 billion)} and Kirloskar Brothers {Rs 2,610 crore (Rs 26.1 billion)}.