Buying in small-caps, mid-caps as well
The market-breadth, a measure of the overall market strength, was strong. Shares from the small-cap and mid-cap space also participated in the rally. There were 1,644 shares advancing compared to 840 that declined on BSE. The advance-decline ratio nearly 2:1. As many as 48 scrips remained unchanged.
At 12:27 IST the BSE Sensex was up 99.90 points, at 14,455.35. It had opened higher, at 14,436.18, tracking the 345-point surge of Friday (16 February 2007). It had surged to a fresh high of 14,479.18 with buying in full steam. The benchmark index also touched a low of 14,385.78.
The total turnover on BSE amounted to Rs 2194 crore.Among the 30-Sensex pack, 21 advanced while the rest declined.Car maker Maruti Udyog surged 3.12% to Rs 920, and was the top gainer following a cut in petrol and diesel prices last week.
Krebs Biochemicals zooms on plan to offer stake to Ranbaxy
Drugmaker Krebs Biochemicals & Industries rose 5%, the maximum daily limit, to Rs 85.70, after the firm's board decided to consider issuing 10.5 lakh shares to Ranbaxy.Krebs Biochemicals board will meet on 22 February 2007, to consider the preferential allotment to Ranbaxy.As many as 1,801 shares changed hands in the counter on BSE.
The same news had triggered a solid surge in the counter in mid-January 2007. From Rs 78.35 on 10 January 2007, Krebs Biochemicals had surged to Rs 101.25 by 18 January 2007. The stock had declined sharply later, to a low of Rs 77.80 by 14 February 2007. The scrip had recovered to Rs 81.65 the next day (15 February 2007).
Krebs Biochemicals & Industries will issue and allot 10.5 lakh equity shares (14.9% stake) of Rs 10 each, at a premium of Rs 75 per share, for an aggregate Rs 8.93 crore to Ranbaxy.
Krebs Biochemicals manufactures active pharmaceutical ingredients (API), besides sugar and food.
Krebs Biochemicals posted a lower net loss of Rs 0.26 crore for the December 2006, compared to a net loss of Rs 4.86 crore for December 2005. Net sales during the same period surged 252.70% to Rs 14.25 crore (Rs 4.04 crore).
Biocon firms up on outline for Andhra plant
Biocon surged 3.4% to Rs 454, on news that the firm plans to invest Rs 1000 crore in setting up a bio-pharma plant in Andhra.As many as 1.2 lakh shares changed hands in the counter on BSE.
The stock had spurted 10.4% to Rs 410.25 on 18 January 2007, boosted by good Q3 December 2006 results. The Biocon scrip had firmed up further to reach Rs 467.85 on 7 February 2007 before correcting to Rs 412.40 by 13 February 2007. Biocon had firmed again to reach Rs 438.70 by 15 February 2007. Earlier, the stock was range-bound for about two months, moving between Rs 346 and Rs 378, during late-November 2006 - mid-January 2007.
FII-holding in the stock declined to 10.75% by end-December 2006, from 11.33% at end-September 2006.
The bio-pharma plant in Andhra Pradesh will be built in the pharma special economic zone (SEZ) near the port city of Visakhapatnam. Andhra Pradesh Chief Minister, Y S Rajasekhara Reddy, on Friday (16 February 2007) handed over the allotment letter for the land needed for setting up the bio-pharma plant to Biocon Chairman, Kiran Mazumdar Shaw.
Biocon’s consolidated net profit rose 27% to Rs 56 crore in the December 2006 quarter on 13% growth in operating income to Rs 247 crore.
Biocon is a leading biopharmaceutical company with strong R&D capabilities in fermentation technology, biotechnology and drug discovery. The company is a pioneer in production of biopharmaceuticals through the fermentation route. Biocon is currently going through a transition phase. From a generic company, it has sights on becoming a discovery-led lifescience company.
Biocon’s oral insulin programme has successfully completed Phase I human clinical trials, and expects to enter Phase II trials later this year.
Biocon has signed a memorandum of understanding (MoU) to enter into a joint venture (JV) with NMC group, Abu Dhabi, for strategic marketing and manufacturing cooperation. Biocon products will include the cardiovascular, diabetes and oncology segments. The products will be part of the fastest growing class of drugs in the $5 billion GCC pharmaceutical market. The JV could be a milestone for the company’s marketing foray.
Biocon has given an exclusive license to Ferozson's Laboratories for marketing BIOMAb EGFR in Pakistan.
At 12:27 IST the BSE Sensex was up 99.90 points, at 14,455.35. It had opened higher, at 14,436.18, tracking the 345-point surge of Friday (16 February 2007). It had surged to a fresh high of 14,479.18 with buying in full steam. The benchmark index also touched a low of 14,385.78.
The total turnover on BSE amounted to Rs 2194 crore.Among the 30-Sensex pack, 21 advanced while the rest declined.Car maker Maruti Udyog surged 3.12% to Rs 920, and was the top gainer following a cut in petrol and diesel prices last week.
Krebs Biochemicals zooms on plan to offer stake to Ranbaxy
Drugmaker Krebs Biochemicals & Industries rose 5%, the maximum daily limit, to Rs 85.70, after the firm's board decided to consider issuing 10.5 lakh shares to Ranbaxy.Krebs Biochemicals board will meet on 22 February 2007, to consider the preferential allotment to Ranbaxy.As many as 1,801 shares changed hands in the counter on BSE.
The same news had triggered a solid surge in the counter in mid-January 2007. From Rs 78.35 on 10 January 2007, Krebs Biochemicals had surged to Rs 101.25 by 18 January 2007. The stock had declined sharply later, to a low of Rs 77.80 by 14 February 2007. The scrip had recovered to Rs 81.65 the next day (15 February 2007).
Krebs Biochemicals & Industries will issue and allot 10.5 lakh equity shares (14.9% stake) of Rs 10 each, at a premium of Rs 75 per share, for an aggregate Rs 8.93 crore to Ranbaxy.
Krebs Biochemicals manufactures active pharmaceutical ingredients (API), besides sugar and food.
Krebs Biochemicals posted a lower net loss of Rs 0.26 crore for the December 2006, compared to a net loss of Rs 4.86 crore for December 2005. Net sales during the same period surged 252.70% to Rs 14.25 crore (Rs 4.04 crore).
Biocon firms up on outline for Andhra plant
Biocon surged 3.4% to Rs 454, on news that the firm plans to invest Rs 1000 crore in setting up a bio-pharma plant in Andhra.As many as 1.2 lakh shares changed hands in the counter on BSE.
The stock had spurted 10.4% to Rs 410.25 on 18 January 2007, boosted by good Q3 December 2006 results. The Biocon scrip had firmed up further to reach Rs 467.85 on 7 February 2007 before correcting to Rs 412.40 by 13 February 2007. Biocon had firmed again to reach Rs 438.70 by 15 February 2007. Earlier, the stock was range-bound for about two months, moving between Rs 346 and Rs 378, during late-November 2006 - mid-January 2007.
FII-holding in the stock declined to 10.75% by end-December 2006, from 11.33% at end-September 2006.
The bio-pharma plant in Andhra Pradesh will be built in the pharma special economic zone (SEZ) near the port city of Visakhapatnam. Andhra Pradesh Chief Minister, Y S Rajasekhara Reddy, on Friday (16 February 2007) handed over the allotment letter for the land needed for setting up the bio-pharma plant to Biocon Chairman, Kiran Mazumdar Shaw.
Biocon’s consolidated net profit rose 27% to Rs 56 crore in the December 2006 quarter on 13% growth in operating income to Rs 247 crore.
Biocon is a leading biopharmaceutical company with strong R&D capabilities in fermentation technology, biotechnology and drug discovery. The company is a pioneer in production of biopharmaceuticals through the fermentation route. Biocon is currently going through a transition phase. From a generic company, it has sights on becoming a discovery-led lifescience company.
Biocon’s oral insulin programme has successfully completed Phase I human clinical trials, and expects to enter Phase II trials later this year.
Biocon has signed a memorandum of understanding (MoU) to enter into a joint venture (JV) with NMC group, Abu Dhabi, for strategic marketing and manufacturing cooperation. Biocon products will include the cardiovascular, diabetes and oncology segments. The products will be part of the fastest growing class of drugs in the $5 billion GCC pharmaceutical market. The JV could be a milestone for the company’s marketing foray.
Biocon has given an exclusive license to Ferozson's Laboratories for marketing BIOMAb EGFR in Pakistan.
posted by SY at 1:51 PM
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