Sensex trades flat
After trading in the positive terrain, the 30-share index has slipped into the negative and is trading flat in the current session. Cement stocks gained ground. Auto and banking traded mixed.
The BSE Sensex is currently trading at 13,643.98, down 8.17 points.Out of the total 2,594 stocks traded so far, 1,622 advanced, 930 declined and 42 remained unchanged.
Leaders on the index include Gujarat Ambuja, which buoyed up 2.89% to rule at Rs 140.60, ONGC, which inched up 1.89% to Rs 928.05 and HLL, which gained 0.93% to Rs 211.95. Bharti Airtel, ACC and ITC also featured on the list of gainers.
Laggards on the BSE Sensex were Satyam, that declined 2.31%, to trade at 475.15, Tata Motors, that dipped 1.29% at Rs 915.70 and HDFC, that slid 1.20% to Rs 1,575. HDFC, Bank, SBI and L&T are the other losers.
Ranbaxy firms up on entering fray for Merck’s generics biz
Ranbaxy Laboratories rose 0.7% to Rs 422, amid reports of its interest in Merck's generic drugs business.As many as 1.5 lakh shares changed hands in the counter on BSE.
Merck said on Friday (5 January 2007), it was considering selling this business, which is estimated by analysts to be worth more than 4 billion euros ($5.2 billion). Merck's generics operations grossed 1.8 billion euros in 2005, close to one-third of the firm's total sales.
Ranbaxy has been on an acquisition spree this year, snapping up generic drug makers in Italy, Spain, Belgium and Romania. Most recently, it bought South Africa's Be-Tabs Pharmaceuticals for $70 million.
The Ranbaxy stock had risen 1.3% on Monday (8 January) to Rs 418.95. The scrip has solid rebound from the lower level since mid-December 2006, partly on expectations of strong Q4 December 2006 results. From Rs 359.65 on 12 December 2006, it had gained 16.4% to Rs 418.95 by 8 January 2007.
Early this year, Ranbaxy Laboratories received the US Food and Drug Administration (FDA) approval to market atenolol tablets of strengths 25 mg, 50 mg, and 100 mg. The FDA has determined the Ranbaxy formulations to be bioequivalent to the AstraZeneca's hypertension drug Tenormin(r), listed as a reference drug. The total annual market sales for atenolol were $133.6 million according to market research agency IMS' September 2006 data.
Last month, three Indian firms Ranbaxy Laboratories, Zydus Cadilla and Aurobindo Pharma received approval from the US Food and Drug Administration (USFDA) to market cholesterol lowering drug, Simvastatin, the generic version of Merck's `Zocor'. Ranbaxy has the approval to sell the drug in strengths of 5 mg, 10 mg, 20 mg and 40 mg. It has been selling the drug in 80 mg dosage since June.
Ranbaxy’s consolidated net profit surged 657% in Q3 September 2006 to Rs 139.30 crore, on 27% growth in net sales to Rs 1627.10 crore. Ranbaxy Laboratories expects its performance in 2007 to be better than that in 2006.
The current price of Rs 422 discounts its 9 months January-September 2006 annualised EPS of Rs 12.50 (based on consolidated financial performance), by a PE multiple of 33.7.
BSEL Infra, Unity Infra inflate as JV wins IT park work
BSEL Infrastructure rose 3% to Rs 70.50, while Unity Infraprojects surged 1.83% to Rs 602.40 after their joint venture was awarded work for constructing an IT Park in Goa.
As many as 4.16 lakh shares of BSEL Infrastructure were traded, against 84,802 shares in Unity Infraprojects.At the current market price of Rs 70.50, BSEL Infrastructure trades at 3.45 times its Q3 December 2006 annualized EPS of Rs 20.38.While Unity Infraprojects trades at 22.64 times its Q2 September 2006 annualized EPS of Rs 26.60, at the current market price of Rs 602.40.
BSEL Infrastructure Realty and Unity Infraprojects’ 50:50 joint venture company has been awarded and allotted an area of 40,000 sq mt with 1.50 floor space index at Rajiv Gandhi IT Habitat at Donna Paula, Goa, for constructing an Information Technology park. The project is estimated to have 6,45,600 sq. ft. of built-up area.
As per reports, BSEL Infrastructure and Unity Infraprojects together plan to spend Rs 200 crore in the next 3-5 years to set up a number of hotels and serviced apartments throughout the country. The companies are making their hospitality foray through a 50:50 joint venture. The confirmed list of projects include a 400-room, three-star hotel in Pune, a fully-furnished serviced apartment with 300 rooms in Gujarat and another three- or four-star hotel adjacent to the upcoming convention center in Goa.
Recently, BSEL Infrastructure’s UAE unit roped in investment to the tune of $ 25 million from Gulf-based NRIs. Based on this, the company’s current quarter will have a bottomline of Rs 30 crore upwards, translating into a quarterly EPS of more than Rs 5.
BSEL Infrastructure Realty is an infrastructure development company.
BSEL Infrastructure had registered a net profit growth of 591.50%, to Rs 30.22 crore (Rs 4.37 crore) for Q3 December 2006. Net sales rose 327.20%, to Rs 33.71 crore (Rs 7.89 crore).
Meanwhile, Unity Infraprojects had secured a project from Indiabulls Properties for development of commercial premises at Elphinston, Mumbai, for Rs 43.02 crore. The expected time of completion is approximately 16 months from the date of commencement of the project. Further last month, the company secured contracts worth Rs 17.10 crore from Life Insurance Corporation for the proposed construction of Insurance Educational Institute at Bandra-Kurla Complex in Mumbai.
The Mumbai-based Unity Infraprojects (UIP), with operations in eight states, provides integrated engineering, procurement and construction (EPC) services for civil and infrastructure projects.
The company’s expertise includes civil construction projects, transportation engineering projects and irrigation as well as water supply projects. Apart from design–build projects, UIP also undertakes projects on turnkey basis, providing a range of specialised construction and operational services including electrical, fire prevention and control, plumbing and air-conditioning.
The company has registered a net profit growth of 102.5% to Rs 8.89 crore on net sales of Rs 100.31 crore in Q2 September 2006.
Thai buy-out propels Dabur Pharma
Dabur Pharma gained nearly 1% to Rs 84.25, after it informed of buying out the oncology business of its Thai partner.The stock rose as much as 3.3% to a lifetime high of Rs 86.30 at 12:07 IST. As many as 1.02 lakh shares changed hands in the counter on BSE.The stock had firmed up since mid-December 2006. From Rs 70.10 on 19 December 2006, it rose 19.1% to a lifetime closing high of Rs 83.50 by 8 January 2007.
The acquisition of Biosciences Company’s oncology sales and distribution business strengthens Dabur’s presence in the Thai oncology generics market, where it is already a market leader, Dabur Pharma said. This buy will allow Dabur to significantly extend its reach & presence. Dabur Pharma Chairman Anand Burman said the company will increasingly focus on its competencies in the oncology business, to drive growth both in the generics & the NDDS market.
The oncology market in Thailand is estimated to be growing at the 25%. Dabur Pharma, which entered the market in 1999, is currently growing at 29%, and has a market share of approximately 17% among generic companies, according to a company statement.
Dabur Pharma’s focus is oncology, which is growing in excess of 15% in the therapeutic category in the world. Dabur's oncology products are currently available in more than 40 countries. It has leadership position in many key markets, and has recently entered the US market through USFDA approvals for two of products, carboplatin injection and paclitaxel injection.
The company plans to register many more products in the US and Europe. The company has oncology medicine manufacturing facilities in UK and India. Its new manufacturing facility at Baddi, Himachal Pradesh, is expected to commence production soon.
Last week, Dabur Pharma announced the launch of its new nano technology based chemotherapy agent, Nanoxel, in the country. A typical cycle of chemotherapy using Nanoxel costs about Rs 16,000, with the average patient requiring five or six cycles to treat their cancer. The company will start clinical trials for the product in the US and Europe, where the launch is expected in another 18-36 months.
Dabur Pharma reported 46% growth 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.
The BSE Sensex is currently trading at 13,643.98, down 8.17 points.Out of the total 2,594 stocks traded so far, 1,622 advanced, 930 declined and 42 remained unchanged.
Leaders on the index include Gujarat Ambuja, which buoyed up 2.89% to rule at Rs 140.60, ONGC, which inched up 1.89% to Rs 928.05 and HLL, which gained 0.93% to Rs 211.95. Bharti Airtel, ACC and ITC also featured on the list of gainers.
Laggards on the BSE Sensex were Satyam, that declined 2.31%, to trade at 475.15, Tata Motors, that dipped 1.29% at Rs 915.70 and HDFC, that slid 1.20% to Rs 1,575. HDFC, Bank, SBI and L&T are the other losers.
Ranbaxy firms up on entering fray for Merck’s generics biz
Ranbaxy Laboratories rose 0.7% to Rs 422, amid reports of its interest in Merck's generic drugs business.As many as 1.5 lakh shares changed hands in the counter on BSE.
Merck said on Friday (5 January 2007), it was considering selling this business, which is estimated by analysts to be worth more than 4 billion euros ($5.2 billion). Merck's generics operations grossed 1.8 billion euros in 2005, close to one-third of the firm's total sales.
Ranbaxy has been on an acquisition spree this year, snapping up generic drug makers in Italy, Spain, Belgium and Romania. Most recently, it bought South Africa's Be-Tabs Pharmaceuticals for $70 million.
The Ranbaxy stock had risen 1.3% on Monday (8 January) to Rs 418.95. The scrip has solid rebound from the lower level since mid-December 2006, partly on expectations of strong Q4 December 2006 results. From Rs 359.65 on 12 December 2006, it had gained 16.4% to Rs 418.95 by 8 January 2007.
Early this year, Ranbaxy Laboratories received the US Food and Drug Administration (FDA) approval to market atenolol tablets of strengths 25 mg, 50 mg, and 100 mg. The FDA has determined the Ranbaxy formulations to be bioequivalent to the AstraZeneca's hypertension drug Tenormin(r), listed as a reference drug. The total annual market sales for atenolol were $133.6 million according to market research agency IMS' September 2006 data.
Last month, three Indian firms Ranbaxy Laboratories, Zydus Cadilla and Aurobindo Pharma received approval from the US Food and Drug Administration (USFDA) to market cholesterol lowering drug, Simvastatin, the generic version of Merck's `Zocor'. Ranbaxy has the approval to sell the drug in strengths of 5 mg, 10 mg, 20 mg and 40 mg. It has been selling the drug in 80 mg dosage since June.
Ranbaxy’s consolidated net profit surged 657% in Q3 September 2006 to Rs 139.30 crore, on 27% growth in net sales to Rs 1627.10 crore. Ranbaxy Laboratories expects its performance in 2007 to be better than that in 2006.
The current price of Rs 422 discounts its 9 months January-September 2006 annualised EPS of Rs 12.50 (based on consolidated financial performance), by a PE multiple of 33.7.
BSEL Infra, Unity Infra inflate as JV wins IT park work
BSEL Infrastructure rose 3% to Rs 70.50, while Unity Infraprojects surged 1.83% to Rs 602.40 after their joint venture was awarded work for constructing an IT Park in Goa.
As many as 4.16 lakh shares of BSEL Infrastructure were traded, against 84,802 shares in Unity Infraprojects.At the current market price of Rs 70.50, BSEL Infrastructure trades at 3.45 times its Q3 December 2006 annualized EPS of Rs 20.38.While Unity Infraprojects trades at 22.64 times its Q2 September 2006 annualized EPS of Rs 26.60, at the current market price of Rs 602.40.
BSEL Infrastructure Realty and Unity Infraprojects’ 50:50 joint venture company has been awarded and allotted an area of 40,000 sq mt with 1.50 floor space index at Rajiv Gandhi IT Habitat at Donna Paula, Goa, for constructing an Information Technology park. The project is estimated to have 6,45,600 sq. ft. of built-up area.
As per reports, BSEL Infrastructure and Unity Infraprojects together plan to spend Rs 200 crore in the next 3-5 years to set up a number of hotels and serviced apartments throughout the country. The companies are making their hospitality foray through a 50:50 joint venture. The confirmed list of projects include a 400-room, three-star hotel in Pune, a fully-furnished serviced apartment with 300 rooms in Gujarat and another three- or four-star hotel adjacent to the upcoming convention center in Goa.
Recently, BSEL Infrastructure’s UAE unit roped in investment to the tune of $ 25 million from Gulf-based NRIs. Based on this, the company’s current quarter will have a bottomline of Rs 30 crore upwards, translating into a quarterly EPS of more than Rs 5.
BSEL Infrastructure Realty is an infrastructure development company.
BSEL Infrastructure had registered a net profit growth of 591.50%, to Rs 30.22 crore (Rs 4.37 crore) for Q3 December 2006. Net sales rose 327.20%, to Rs 33.71 crore (Rs 7.89 crore).
Meanwhile, Unity Infraprojects had secured a project from Indiabulls Properties for development of commercial premises at Elphinston, Mumbai, for Rs 43.02 crore. The expected time of completion is approximately 16 months from the date of commencement of the project. Further last month, the company secured contracts worth Rs 17.10 crore from Life Insurance Corporation for the proposed construction of Insurance Educational Institute at Bandra-Kurla Complex in Mumbai.
The Mumbai-based Unity Infraprojects (UIP), with operations in eight states, provides integrated engineering, procurement and construction (EPC) services for civil and infrastructure projects.
The company’s expertise includes civil construction projects, transportation engineering projects and irrigation as well as water supply projects. Apart from design–build projects, UIP also undertakes projects on turnkey basis, providing a range of specialised construction and operational services including electrical, fire prevention and control, plumbing and air-conditioning.
The company has registered a net profit growth of 102.5% to Rs 8.89 crore on net sales of Rs 100.31 crore in Q2 September 2006.
Thai buy-out propels Dabur Pharma
Dabur Pharma gained nearly 1% to Rs 84.25, after it informed of buying out the oncology business of its Thai partner.The stock rose as much as 3.3% to a lifetime high of Rs 86.30 at 12:07 IST. As many as 1.02 lakh shares changed hands in the counter on BSE.The stock had firmed up since mid-December 2006. From Rs 70.10 on 19 December 2006, it rose 19.1% to a lifetime closing high of Rs 83.50 by 8 January 2007.
The acquisition of Biosciences Company’s oncology sales and distribution business strengthens Dabur’s presence in the Thai oncology generics market, where it is already a market leader, Dabur Pharma said. This buy will allow Dabur to significantly extend its reach & presence. Dabur Pharma Chairman Anand Burman said the company will increasingly focus on its competencies in the oncology business, to drive growth both in the generics & the NDDS market.
The oncology market in Thailand is estimated to be growing at the 25%. Dabur Pharma, which entered the market in 1999, is currently growing at 29%, and has a market share of approximately 17% among generic companies, according to a company statement.
Dabur Pharma’s focus is oncology, which is growing in excess of 15% in the therapeutic category in the world. Dabur's oncology products are currently available in more than 40 countries. It has leadership position in many key markets, and has recently entered the US market through USFDA approvals for two of products, carboplatin injection and paclitaxel injection.
The company plans to register many more products in the US and Europe. The company has oncology medicine manufacturing facilities in UK and India. Its new manufacturing facility at Baddi, Himachal Pradesh, is expected to commence production soon.
Last week, Dabur Pharma announced the launch of its new nano technology based chemotherapy agent, Nanoxel, in the country. A typical cycle of chemotherapy using Nanoxel costs about Rs 16,000, with the average patient requiring five or six cycles to treat their cancer. The company will start clinical trials for the product in the US and Europe, where the launch is expected in another 18-36 months.
Dabur Pharma reported 46% growth 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.
posted by SY at 1:50 PM
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