FinancialNirvana.com

Indian stocks had another great week as stocks moved up across the board. 

Key highlights:

• Sensex had another up week.  Sensex made another all-time high in the middle of the week but closed the week at 13,703.33, up 2.04% for the week.
• Infosys (Nasdaq: INFY) had a down week for a change.  The company announced the pricing of its secondary offering of 30,000,000 American Depositary Shares (ADSs), representing 30,000,000 equity shares (one equity share represents one ADS) at a price of US$53.50 per ADS. The total offering exceeds US$1.6 billion.  The stock fell on the news and is near its offering price. 
• Sify Ltd. (Nasdaq: SIFY) led the Indian stocks this week with a gain of 9.70%.  Sify’s subsidiary received the licensing to offer International Long Distance (ILD) and National Long Distance (NLD).  So what does that mean?
• It seems like every week I say the same thing concerning the two Indian Banks.  ICICI Bank (NYSE: IBN) and HDFC Bank (HDB) both had another up week.
• There is some talk that ICICI Bank is looking to enter the US Market.

• Sify: 9.70%
• Rediff: 6.58%
• Satyam: 5.22%
• Wipro: 4.99%
• MS India Fund (IIF): 4.90%
• WNS Holdings: 4.66%
• Dr. Reddy’s: 4.47%
• Tata Motors: 3.51%
• ICICI Bank: 3.23%
• MTE: 3.00%
• India Fund (IFN): 2.69%
• Patni Computers: 2.45%
• SENSEX: 2.04%
• HDFC Bank: 0.31%
• VSL: (1.38%)
• Infosys: (2.74%)

* I am long SIFY

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