November Week 2

Indian bond and currency markets are closed on Friday for a religious holiday, while stock
markets will be open for a one-hour special trading session.
Indian shares fell for the fifth straight session on Friday, led by
banking and financial stocks, in a short session held on Diwali, the
Hindu festival of lights.Poor sentiment for financials across the region on concerns over renewed U.S. subprime mortgage problems weighed on local banks, with the sector index slipping 1.36 percent.

ICICI Bank, India's number-two lender, ended 2.2 percent lower at 1,143 rupees. Top mortgage firm Housing Development Finance Corp dropped 1.5 percent to 2,523.30 rupees.

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STOCKS ON THE MOVE Nov 8

 * Export-driven software services companies, which are
already under pressure because of a firmer rupee ,
extended losses on concerns over a possible downturn in the
United States, which accounts for more than half their revenue.

 Wipro Ltd (WIPR.BO: Quote, Profile, Research), the third-largest software services
exporter, fell nearly 4 percent to 458.85 rupees and No. 4
exporter Satyam Computer Services (SATY.BO: Quote, Profile, Research) was down 2.04
percent at 426 rupees.

 * Lyka Labs Ltd (LYKA.BO: Quote, Profile, Research) rose by its maximum daily limit
of 5 percent to 64.40 rupees after the drugmaker said its board
had approved issuing up to 3.65 million shares to foreign and
domestic investors at 55 rupees each.

 * Animation firm Compact Disc India Ltd (CDIS.BO: Quote, Profile, Research) rose
nearly 5 percent to 73.15 rupees after it secured an animation
outsourcing contract worth $19.8 million from iMedia Ventures
Ltd for a science fiction thriller film.

 * Zenotech Laboratories Ltd (ZENL.BO: Quote, Profile, Research) was up 9.2 percent at
162 rupees after the counter saw a block deal of 2 million
shares, or 6.94 percent of its equity in September, at 161

rupees each.

STOCKS THAT MOVED Nov 7

* Bharat Heavy Electricals Ltd rose 3.6 percent to 2,821 rupees after the Mint newspaper reported the state-run equipment maker has emerged as the sole bidder for a major power project in Andhra Pradesh, traders said.

* Sterlite Industries Ltd ended up 6.6 percent at 1,056.95 rupees after its announced plans to participate in coal-based power generation projects and other ancillary activities through its subsidiary Sterlite Energy.

* Locomotive parts maker Stone India Ltd gained 4.1 percent to 145 rupees after it entered into a technical tie-up with the hybrid products division of Sumitomo Electric

Industries Ltd to make air springs for Indian railways.

STOCKS THAT MOVED Nov 6

* Oil and Natural Gas Corp rose as much as 2.7 percent on news the state-run firm was in talks to buy a 30 percent stake in Sudan's Block 8 from Malaysia's Petronas, as well as a second exploration block. It ended up 0.13 percent at 1,300.75 rupees.

* Diamond Power Infrastructure Ltd, earlier known as Diamond Cables Ltd, rose 10 percent to 373.95 rupees after it said Clearwater Capital and GE Capital would invest in the company.

* ANG Auto Ltd jumped 20 percent, the maximum daily limit, to 154.85 rupees after it said its board would meet on Nov. 12 to consider a share buyback up to 25 percent of its paid-up capital and free reserves.

STOCKS THAT MOVED Nov 5

* Drug maker Cipla Ltd rose as much as 3.7 percent before ending up 1.8 percent at 176.80 rupees after it received tentative approval from the U.S. Food and Drug Administration for cetirizine hydrochloride tablets used for alergic rhinitis.

* Prime Securities Ltd gained 7.4 percent to 177.35 rupees after its board approved a share buyback proposal at up to 225 rupees a share.

* Hotel Leelaventure Ltd ended nearly 9 percent higher at 50.10 rupees after the Times of India newspaper reported the firm has finalised a private equity investment of 50 billion rupees and the investor may be Blackstone.

Leela declined to comment on the report in a statement to the stock exchange.