  We study theoretically the ultrafast spin dynamics of II-VI diluted magnetic
quantum wells in the presence of spin-orbit interaction. We extend a recent
study where it was shown that the spin-orbit interaction and the exchange sd
coupling in bulk and quantum wells can compete resulting in qualitatively new
dynamics when they act simultaneously. We concentrate on
Hg$_{1-x-y}$Mn$_x$Cd$_y$Te quantum wells, which have a highly tunable Rashba
spin-orbit coupling. Our calculations use a recently developed formalism which
incorporates electronic correlations originating from the exchange
$sd$-coupling. We find that the dependence of electronic spin oscillations on
the excess energy changes qualitatively depending on whether or not the
spin-orbit interaction dominates or is of comparable strength with the sd
interaction.
