Indian Stocks Weekly Report – Week ending December 10, 2006
Key Highlights:
- Sensex had a down week for a change. Although, the Sensex made an all-time high of 14009.56 mid-week, it closed the week at 13,799.49. Sensex has had such an amazing run that a short term downtrend might be imminent.
- Rediff (Nasdaq: REDF) had a great week as the stock closed the week up 8.80%. Rediff seems to be getting into the expensive territory again with a trailing P/E of 393.20 and Forward P/E of 85.48.
- Sify (Nasdaq: SIFY) and Yahoo! India (Nasdaq: YHOO) are seemingly going at each other.
- Infosys Technologies (Nasdaq: INFY) is set to become the first Indian company to join the Nasdaq 100.
- Dr. Reddy’s (NYSE: RDY) has received tentative approval from the U.S. Food and Drug Administration for cholesterol-lowering simvastatin tablets.
* I am long SIFY
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