The period September 27th to October 25th, 2002 was a difficult one for Tata Power. A lacklustre second quarter performance and downgrading of its debentures by rating agencies saw the company slip nine places on the Cirrus Image Index to No. 76.
At the other end of the spectrum ESPN Star soared on the index, rising twenty-two ranks to end up at No. 77. The company gained image points (the basis for image being the difference between positive coverage and negative coverage) after the Delhi High Court lifted the ban imposed on the channel allowing it to broadcast highlights of the current cricket test matches between India and West Indies.
Six new entrants made their way into Cirrus 100 during this period. Citibank, Balaji Telefilms, and BPL Mobile were among the companies that entered the ranks of the top one hundred companies in terms of image.
Once again Maruti was No. 1 on the Cirrus Image Index, with Infosys Technologies at No. 2 and Reliance Industries at No. 3. Maruti gained the top spot in the early days of June overtaking Reliance Industries, and has maintained the lead ever since.
Consumer durables majors Siel Ltd and LG Electronics were in the limelight as they improved their ranks on Cirrus 100. LG climbed twelve ranks to No. 40 while Siel Ltd went from No. 65 to No. 54.
In the pharma category, a good Q3 showing and media coverage of its various marketing alliances helped Ranbaxy improve its position by seven ranks to No. 32. Ranbaxys nearest competitor on Cirrus 100, Dr Reddy, stayed put at No. 51.
Other companies that gained on image points this month include Toyota Kirloskar, Pepsi Foods, Nalco and Haldia Petrochemicals. While among the bigger losses of rank were those of HCL Technologies, Sun Micro Systems and Sahara India Media.
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