Update 1
RIL plays sheet-anchor
Gain in index heavyweight Reliance Industries (RIL) ensured that the market remained in the positive zone in early-trade.At 11:19 IST the Sensex was up 21 points, at 13,970.
In early-trade, the BSE Sensex had undergone a bout of volatility. After opening positive, it shortly slipped into the red. It later recovered from the lower level. The barometer index swung about 220 points in early-trade, between some of the vital intra-day tops and bottoms.The BSE clocked a turnover of Rs 1,266 crore.The market-breadth was positive. For 1,313 shares rising on BSE, 903 declined. A total of 73 scrips were unchanged. Gainers outpaced losers by a ratio of 1.45:1.
Dabur Pharma hurt despite US FDA nod for onco drug
Dabur Pharma lost 0.6% to Rs 73.05, despite an FDA nod for generic paclitaxel injections, a formulation that fights cancer.A total of 1,750 shares changed hands in the counter on BSE.
Paclitaxel is the generic equivalent of Bristol-Myers Squibb’s Taxol, which is used to treat ovarian and breast cancer. Dabur Pharma’s focus is on oncology, growing in excess of 15% in the therapeutic category in the world.
Dabur Pharma reported a growth of 46% in net profit to Rs 6.96 crore for the second quarter ended September, against Rs 4.77 crore for the corresponding previous period. Net sales were at Rs 97.79 crore, up 33.55% from Rs 73.23 crore earlier.
Late last month, Dabur Pharma's wholly-owned subsidiary in the United Kingdom, Dabur Oncology, has been granted ANDA approval for its Paclitaxel molecule by US FDA.
Earlier this year, Dabur Pharma entered into a long-term supply arrangement with a US-based pharmaceutical company to supply Metaxalone, which will be sold in the US market.
Bayer Diagnostics India spurts on setting date for bountiful dividend
Bayer Diagnostics India spurted 8.79% to Rs 847, after it set 22 December 2006 as a record date for paying interim dividend.The counter saw abnormally high volumes of 2.58 lakh shares on BSE, compared to its average yearly volume of mere 2,885 shares on a daily basis.
The stock rose 1.95% to Rs 778.60, on 6 December, after the company declared a hefty interim dividend of Rs 97 per share of face value of Rs 10. It remained volatile that day, fluctuating in a wide range of Rs 745 – Rs 820.
Recently, Siemens AG made an open offer to acquire an additional 20% stake in Bayer Diagnostics India, at Rs 629.45 per share.Bayer Diagnostics India is a diagnostics firm. The company has a strong position in the high-end, high-value segments of the immuno-diagnostics & hematology products.
For Q2 September 2006, the company reported 28.40% growth in net profit to Rs 1.72 crore (Rs 1.34 crore). Net sales rose 20.10% to Rs 19.23 crore (Rs 16.01 crore).
Gain in index heavyweight Reliance Industries (RIL) ensured that the market remained in the positive zone in early-trade.At 11:19 IST the Sensex was up 21 points, at 13,970.
In early-trade, the BSE Sensex had undergone a bout of volatility. After opening positive, it shortly slipped into the red. It later recovered from the lower level. The barometer index swung about 220 points in early-trade, between some of the vital intra-day tops and bottoms.The BSE clocked a turnover of Rs 1,266 crore.The market-breadth was positive. For 1,313 shares rising on BSE, 903 declined. A total of 73 scrips were unchanged. Gainers outpaced losers by a ratio of 1.45:1.
Dabur Pharma hurt despite US FDA nod for onco drug
Dabur Pharma lost 0.6% to Rs 73.05, despite an FDA nod for generic paclitaxel injections, a formulation that fights cancer.A total of 1,750 shares changed hands in the counter on BSE.
Paclitaxel is the generic equivalent of Bristol-Myers Squibb’s Taxol, which is used to treat ovarian and breast cancer. Dabur Pharma’s focus is on oncology, growing in excess of 15% in the therapeutic category in the world.
Dabur Pharma reported a growth of 46% in net profit to Rs 6.96 crore for the second quarter ended September, against Rs 4.77 crore for the corresponding previous period. Net sales were at Rs 97.79 crore, up 33.55% from Rs 73.23 crore earlier.
Late last month, Dabur Pharma's wholly-owned subsidiary in the United Kingdom, Dabur Oncology, has been granted ANDA approval for its Paclitaxel molecule by US FDA.
Earlier this year, Dabur Pharma entered into a long-term supply arrangement with a US-based pharmaceutical company to supply Metaxalone, which will be sold in the US market.
Bayer Diagnostics India spurts on setting date for bountiful dividend
Bayer Diagnostics India spurted 8.79% to Rs 847, after it set 22 December 2006 as a record date for paying interim dividend.The counter saw abnormally high volumes of 2.58 lakh shares on BSE, compared to its average yearly volume of mere 2,885 shares on a daily basis.
The stock rose 1.95% to Rs 778.60, on 6 December, after the company declared a hefty interim dividend of Rs 97 per share of face value of Rs 10. It remained volatile that day, fluctuating in a wide range of Rs 745 – Rs 820.
Recently, Siemens AG made an open offer to acquire an additional 20% stake in Bayer Diagnostics India, at Rs 629.45 per share.Bayer Diagnostics India is a diagnostics firm. The company has a strong position in the high-end, high-value segments of the immuno-diagnostics & hematology products.
For Q2 September 2006, the company reported 28.40% growth in net profit to Rs 1.72 crore (Rs 1.34 crore). Net sales rose 20.10% to Rs 19.23 crore (Rs 16.01 crore).
posted by SY at 12:04 PM
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