WNS Holdings advances for 7th straight week

Tech companies lose investor confidence.

Bureau Report

NEW YORK: Three Indian stocks closed in the green at the stock exchanges here in the week ended February 15, but the outstanding performance was by WNS Holdings, which continued its gain for the seventh straight week in the current year.

The other stocks to close on a high note were HDFC Bank, reversing the losing streak witnessed in the counter until last week, and automobile company Tata Motors also reversed its losing trend and ended in the positive territory after its strong quarterly results driven by its Jaguar Land Rover’s performance.

The technology companies, which used to attract investors’ attention, failed to perform compared to the overall market performance. While the S&P 500 rose marginally by 0.12 percent, the Dow Jones Industrial Averages and the NASDAQ shed modestly by 0.08 percent and 0.06 percent, respectively.

Wipro is the worst performer losing 3.06 percent followed by Cognizant Technology Solutions and Infosys by 2.39 percent and 1.89 percent, respectively. Rediff.com, which ended with a gain of 1.38 percent, rose only by a mere four cents.

The worst performer among the Indian stocks listed in the U.S. bourses was Sterlite Industries shedding 4.52 percent during the week. This is followed by pharmaceutical company Dr. Reddy’s Laboratories that dropped 3.89 percent. Sterlite is also a poor performer in 2013 losing 14.17 percent.

In the financial segment, it was a mixed bag of fortunes. While ICICI Bank shed 0.71 percent for the second week in a row, HDFC Bank advanced 3.83 percent after witnessing losses in the preceding two weeks. However, both the stocks remained in the red on a year-to-date basis losing 1.01 percent and 2.99 percent, respectively.

BPO Company WNS Holdings advanced 6.36 percent in the week and delivered a return of 37.97 percent to investors in the year 2013 alone by continuously recording a gain of 7.36 percent, 1.35 percent, 8.46 percent, 1.41 percent, 8.16 percent, 2.11 percent, and 6.36 percent, respectively, in the seven weeks of the current year.

Tata Motors, which advanced 2.96 percent during the week, remained a net loser for the year-to-date period. Technology stocks, which had a mixed fortune last year, continue to remain in the green for the year despite suffering losses during the week. Infosys leads the pack with a gain of 21.51 percent followed by Wipro by 5.02 percent, and Cognizant Technology by 4.02 percent.

Comparison of Stocks closing price for the week ended February 15, 2013 Vs. February 8, 2013

Company name Closing price of current week Closing price of previous week % of up or down for current week closing price of last year YTD % of up or down
Cognizant Technology Solutions

76.85

78.73

-2.39%

73.88

4.02%

Infosys

51.4

52.39

-1.89%

42.3

21.51%

Wipro

9.2

9.49

-3.06%

8.76

5.02%

WNS (Holdings)

14.39

13.53

6.36%

10.43

37.97%

HDFC Bank

39.84

38.37

3.83%

40.72

-2.16%

ICICI Bank

43.17

43.48

-0.71%

43.61

-1.01%

Tata Motors

27.86

27.06

2.96%

28.72

-2.99%

Dr. Reddy’s Laboratories

33.88

35.25

-3.89%

33.29

1.77%

Sterlite Industries

7.39

7.74

-4.52%

8.61

-14.17%

Rediff.com

2.94

2.9

1.38%

2.85

3.16%

S&P 500

1519.79

1517.93

0.12%

1426.19

6.56%

Dow Jones Industrial Averages

13981.76

13992.87

-0.08%

13104.14

6.70%

Nasdaq

3192.03

3193.87

-0.06%

3019.51

5.71%

 

 

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