Bullish RIL rescues Sensex
The market was off the lower level in lacklustre afternoon trade. Hindustan Lever dropped ahead of the announcement of Q4 results. Auto and cement shares were subdued, L&T had pared gains, while index heavyweight Reliance Industries (RIL) held firm.
The market-breadth was weak. Against 1,586 shares that declined on BSE, 837 rose. Just 69 shares were unchanged. Losers outpaced gainers by a ratio of 1.89:1.At 12:25 IST the Sensex was down 1.69 points, at 14,401. It came off a low of 14,365.51 struck at 12:13 IST. At this low, the benchmark Sensex had lost 37.39 points for the day.
Godrej Industries edges ahead after mass deal
Godrej Industries gained 1% to Rs 180, after a huge block deal was struck in the counter on BSE.A deal of 18.63 lakh shares was struck on BSE at Rs 178.15 per share, in opening trade.The counter clocked a total volume of 19.71 lakh shares on BSE.
The stock has gained in the past few sessions. From Rs 164.40 on 25 January, Godrej Industries advanced to Rs 186.80 by 9 February. At this level, the scrip succumbed to profit-booking, and slipped to Rs 178.30 by 19 February.
Godrej Industries’ posted a net loss of Rs 2.83 crore for the third quarter ended December 2006 compared to a net profit of Rs 3.86 crore for the third quarter ended December 2005. Net sales for the December 2006 quarter slipped 15.50% to Rs 152.98 crore (Rs 181.05 crore). In fact, the results could have been much weaker but for the huge extra-ordinary income of Rs 41.72 crore (Rs 29.05 crore) from the sales of the company's food division to Godrej Beverages & Foods.
Godrej Industries has set up a wholly-owned subsidiary, Aadhaar Retailing, for infrastructure investment in its upcoming supermarket chain – Aadhaar.
Godrej Industries has diverse interests, ranging from chemicals, finance, property development to edible fats. The promoters hold a majority 87% stake, while the public holding is 7% as of December 2006.
The company has mega plans for Godrej Properties, an 83% subsidiary, while the remaining 11% stake is with the Godrej family. Currently, Godrej Properties is developing plots of land across India. Besides, Godrej Properties will develop properties owned by various group companies across India.
The group controls the land bank through various group companies and Godrej Properties will form joint ventures (JVs) with them to commercially develop these properties. Godrej Properties is also into JVs with landowners for property development.
The group is also finalising plans to set up a real estate fund and make the group's real estate arm, Godrej Properties, public through an IPO shortly. Godrej Industries will dilute around 10% equity in Godrej Properties, which has over the last 16 years emerged as a focused real estate development company.
Prowling Ind-Swift Labs declines
Ind-Swift declined 1.45% to Rs 71.50, despite reports that the company was in advanced talks for a $ 25 million acquisition in Europe.As many as 23,307 shares were traded on the BSE.
The stock had witnessed a solid surge in early January - end-January 2007. From Rs 53.90 on 2 January 2007, Ind-Swift's scrip surged to Rs 71.85 by 23 January 2007. From this high, Ind-Swift slipped to Rs 64.10 by 1 February 2007 due to dismal December 2006 quarter results. The scrip had recovered from this low to Rs 82.90 by 8 February 2007, only to slip again to Rs 72.50 by 19 February 2007.
At the current market price of Rs 71.50, Ind-Swift Laboratories trades at 7.28 times its Q3 December 2006 annualized EPS of Rs 9.81.
As per reports, drug maker Ind-Swift Laboratories is in advanced talks with three to four European firms for a $25 million acquisition. The plan is part of Ind-Swift's plans for diversification into formulations. Ind-Swift is looking at companies with a drug basket of antibiotics and pain management drugs, along with a marketing network and manufacturing facility.
Recently, Ind-Swift Laboratories successfully completed US FDA inspection for clarithromycin (API) manufacturing facility at Ind-Swift Laboratories, USA, a wholly-owned north American subsidiary. With the completion of inspection, Ind-Swift Laboratories will launch clarithromycin in north America. Clarithromycin is a macrolide antibiotic, which is used to treat lower respiratory tract infections. The macrolides have a world market size of $1.3 billion. The company is one of the largest manufacturers of clarithromycin after the innovator.
Ind-Swift Laboratories further stated that it was working on an alliance with biotechnology companies in north America, for long-term growth.
The company has already filed 10 drug master files (DMFs) and plans to file a significant number of DMFs with the US FDA during the next financial year. This will pave the way for Ind-Swift to enter the US market, the biggest generic drugs market in the world.
Ind-Swift Labs is also said to be in an advanced stage of launching its drugs in Japan.
The company, in the last financial year, completed its first major expansion plan of over Rs 100 crore, putting up a new facility at the tax-exempted zone at Samba, Jammu (J&K), to manufacture products for the domestic market.
Ind-Swift came out with a disappointing set of Q3 December 2006 numbers with a 39.40% fall in net profit to Rs 5.52 crore over the corresponding previous year's quarter to Rs 9.10 crore. Net sales for the same December 2006 quarter rose 15.72% to Rs 95.30 crore from Rs 82.36 crore. The results were declared on 24 January 2007.
The market-breadth was weak. Against 1,586 shares that declined on BSE, 837 rose. Just 69 shares were unchanged. Losers outpaced gainers by a ratio of 1.89:1.At 12:25 IST the Sensex was down 1.69 points, at 14,401. It came off a low of 14,365.51 struck at 12:13 IST. At this low, the benchmark Sensex had lost 37.39 points for the day.
Godrej Industries edges ahead after mass deal
Godrej Industries gained 1% to Rs 180, after a huge block deal was struck in the counter on BSE.A deal of 18.63 lakh shares was struck on BSE at Rs 178.15 per share, in opening trade.The counter clocked a total volume of 19.71 lakh shares on BSE.
The stock has gained in the past few sessions. From Rs 164.40 on 25 January, Godrej Industries advanced to Rs 186.80 by 9 February. At this level, the scrip succumbed to profit-booking, and slipped to Rs 178.30 by 19 February.
Godrej Industries’ posted a net loss of Rs 2.83 crore for the third quarter ended December 2006 compared to a net profit of Rs 3.86 crore for the third quarter ended December 2005. Net sales for the December 2006 quarter slipped 15.50% to Rs 152.98 crore (Rs 181.05 crore). In fact, the results could have been much weaker but for the huge extra-ordinary income of Rs 41.72 crore (Rs 29.05 crore) from the sales of the company's food division to Godrej Beverages & Foods.
Godrej Industries has set up a wholly-owned subsidiary, Aadhaar Retailing, for infrastructure investment in its upcoming supermarket chain – Aadhaar.
Godrej Industries has diverse interests, ranging from chemicals, finance, property development to edible fats. The promoters hold a majority 87% stake, while the public holding is 7% as of December 2006.
The company has mega plans for Godrej Properties, an 83% subsidiary, while the remaining 11% stake is with the Godrej family. Currently, Godrej Properties is developing plots of land across India. Besides, Godrej Properties will develop properties owned by various group companies across India.
The group controls the land bank through various group companies and Godrej Properties will form joint ventures (JVs) with them to commercially develop these properties. Godrej Properties is also into JVs with landowners for property development.
The group is also finalising plans to set up a real estate fund and make the group's real estate arm, Godrej Properties, public through an IPO shortly. Godrej Industries will dilute around 10% equity in Godrej Properties, which has over the last 16 years emerged as a focused real estate development company.
Prowling Ind-Swift Labs declines
Ind-Swift declined 1.45% to Rs 71.50, despite reports that the company was in advanced talks for a $ 25 million acquisition in Europe.As many as 23,307 shares were traded on the BSE.
The stock had witnessed a solid surge in early January - end-January 2007. From Rs 53.90 on 2 January 2007, Ind-Swift's scrip surged to Rs 71.85 by 23 January 2007. From this high, Ind-Swift slipped to Rs 64.10 by 1 February 2007 due to dismal December 2006 quarter results. The scrip had recovered from this low to Rs 82.90 by 8 February 2007, only to slip again to Rs 72.50 by 19 February 2007.
At the current market price of Rs 71.50, Ind-Swift Laboratories trades at 7.28 times its Q3 December 2006 annualized EPS of Rs 9.81.
As per reports, drug maker Ind-Swift Laboratories is in advanced talks with three to four European firms for a $25 million acquisition. The plan is part of Ind-Swift's plans for diversification into formulations. Ind-Swift is looking at companies with a drug basket of antibiotics and pain management drugs, along with a marketing network and manufacturing facility.
Recently, Ind-Swift Laboratories successfully completed US FDA inspection for clarithromycin (API) manufacturing facility at Ind-Swift Laboratories, USA, a wholly-owned north American subsidiary. With the completion of inspection, Ind-Swift Laboratories will launch clarithromycin in north America. Clarithromycin is a macrolide antibiotic, which is used to treat lower respiratory tract infections. The macrolides have a world market size of $1.3 billion. The company is one of the largest manufacturers of clarithromycin after the innovator.
Ind-Swift Laboratories further stated that it was working on an alliance with biotechnology companies in north America, for long-term growth.
The company has already filed 10 drug master files (DMFs) and plans to file a significant number of DMFs with the US FDA during the next financial year. This will pave the way for Ind-Swift to enter the US market, the biggest generic drugs market in the world.
Ind-Swift Labs is also said to be in an advanced stage of launching its drugs in Japan.
The company, in the last financial year, completed its first major expansion plan of over Rs 100 crore, putting up a new facility at the tax-exempted zone at Samba, Jammu (J&K), to manufacture products for the domestic market.
Ind-Swift came out with a disappointing set of Q3 December 2006 numbers with a 39.40% fall in net profit to Rs 5.52 crore over the corresponding previous year's quarter to Rs 9.10 crore. Net sales for the same December 2006 quarter rose 15.72% to Rs 95.30 crore from Rs 82.36 crore. The results were declared on 24 January 2007.
Labels: Godrej Industries, Ind-Swift Labs
posted by SY at 1:02 PM
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