Public sector telecom giant ITI Limited registered a smart gain of 20.71 per cent at Rs 16.90 on Friday on the BSE. The news that ITI has posted a net profit of Rs 5.7 crore on a turnover of Rs 1,270 crore helped the stock rise, registering a large volume of 55,500 shares. In anticipation, the scrip has been rising from a low of Rs 12.05 on May 22. For the second year in a row, the company recorded a 24 per cent rise in turnover since its first reverse during 1994-95 in the wake of liberalisation. For 1998-99, ITI has set an internal target of Rs 1,800crore.

The market continued to pull down BHEL inspite of the excellent results announced by this PSU giant. A 52 per cent jump in net profits translating into an EPS of Rs 28.77 failed to enthuse the market. The scrip lost another Rs 13 to Rs 360 on Friday. The PSU has reported a 52 per cent rise in net profit to Rs 704.20 crore on a turnover of Rs 6466.43 crore for the year ended March 31, 1998. However, the scrip was hammered down after the United States imposed sanctions on India.

Anagram Finance resumed its downward journey from Tuesday, notwithstanding the offer from promoters to buy back at Rs 18. This has partly helped arrest the fall on Monday. Soon after the announcement of its merger with ICICI, the Anagram scrip had slumped to around Rs 14. A ratio of 1:15 would have dragged the scrip down to Rs 7, given ICICI's share price ruling around Rs 100. But from Tuesday the scrip has been falling. It closed the week at Rs 12.65.

Indian aluminium (Indal) remained flat at Rs 165 at the end of the week.The revised offer from Sterlite did not have much impact, as the scrip had already risen during the no-delivery period. The chances of a further rise was halted with Indal denying that a panel had suggested that Alcan revise the offer price. Operators seem to have lost interest in Sterlite as they have realised that the company will have to expand the equity base and raise a considerable amount. The scrip closed the week at Rs 345, after peaking at Rs 373 on Tuesday.

Videocon International continued to rise on the BSE after the Dhoots announced a revised offer of Rs 165 to buy 2 per cent stake in the company. The volumes however have been large with nearly 30 lakhs shares changing hands on BSE.

Orchid Chemicals fizzled out during the week as bulls ran out of steam. After news broke out that the company has developed an alternative process to manufacture an active ingredient in Viagra, the scrip has been hitting a buyer freeze almost every day. The scrip has appreciated from Rs 90 to the current Rs 123, insix trading sessions, peaking at Rs 124 on Monday. In the following five sessions the scrip shed much of its gain closing the week at Rs 107.