Mid-caps, small-caps in action
The market-breadth was strong, as buying for small-cap and mid-cap stocks heightened. For 1,642 shares advancing, 872 declined. A total of 62 scrips remained unchanged. Analysts expect the action in this space to continue, outperforming large-cap peers, on account of robust results.
The market was strong at higher levels, as buying continued. India's wholesale price index rose 6.11% in the 12 months to 20 January, higher than previous week's annual rise of 5.95% due to a rise in prices of manufactured products and foods, data showed on Friday. The annual inflation rate was 4.24% during the corresponding week of the previous year.
At 12:30 IST the BSE Sensex was up 139.89 points, at 14,406.08. It had opened higher, at 14,293.11, and surged to strike an all-time high of 14,425.21 as buying continued from yesterday (1 February 2007).
The total turnover on BSE amounted to a healthy Rs 2730 crore.Among the 30-member Sensex pack, 25 advanced while the rest declined.Bharti Airtel was the top gainer, up 4.85% to Rs 767.10, on 3.21 lakh shares. It also struck an all-time high of Rs 773, in intra-day trade.
Denso India gains on back of expansion plans
The Denso India stock was up 0.82% in morning trade, at Rs 92.25.The stock clocked high volumes of 2,44,531 shares on the BSE in morning trade. The stock also touched an intra-day high of Rs 94.30.
The company’s share price has not showed any significant up move in the recent past and its results for the December quarter FY-2007, too, were not impressive. Denso India's net profit fell 31.6% to Rs 3.81 crore over the corresponding last year quarter’s figure of Rs 5.57 crore. The commensurate figure for sales was, however, up 11.7% at Rs 114.81 crore.
Today’s gains in the share price have come on the back of the company’s announcement to expand activities, which includes setting up a new unit at Haridwar Industrial Area, Uttara Khand, for manufacturing components for two-wheelers. It will be investing Rs 28 crore over four-years to support this project.
The prospects for the auto ancillaries industry are bullish with India becoming a preferred destination for international automobile companies to source products.
There is no doubt that growth in demand for automobiles in the domestic market will also boost the industry. Denso India specialises in manufacturing automobile electrical equipment. It manufactures alternators, generators, starters, radiator fans, ventilators, magnetos, CDIs, ignition coils and windshield wiper motors, links and other auto-electricals. Its major clients are Maruti Udyog and Hero Honda.
Pyramid Saimira Theatre takes centrestage
Pyramid Saimira Theatre surged 10% to Rs 401.30, extending a solid surge over the past few days.As many as 11.9 lakh shares changed hands in the counter on BSE.
The post-listing surge of film distribution and exibition Pyramid Saimira Theatre (PSTL) had caught market men by surprise. From Rs 158.20 on 5 January 2007 (closing price on BSE on the day of its debut), the stock was valued 153.6% in less than a month. The company had priced its IPO at the higher end of the Rs 88 - Rs 100 price-band.
On 22 January 2007, UBS Securities purchased 2.2 lakh shares at Rs 211 on BSE in a block deal. On the same day, it bought 2.3 lakh share on NSE at Rs 211.55.
Recently, the company’s board approved an arrangement with Ritual Developers, Bangalore, for constructing 15 malls, whereby Pyramid will establish and manage multiplexes in Karnataka.
The company’s board has also authorized the managing director to complete the negotiations pending for Pyramid's foray into northern and western (Chattisgarh, Uttar Pradesh, Madhya Pradesh, Maharashtra and Gujarat) regions. The board also authorized the managing director to discuss with the various developers with whom the company has entered into agreement for multiplexes, for a long term strategic relationship, including formation of a special purpose vehicle (SPV).
The board has also authorized the managing director to look for inorganic growth opportunities in Pyramid's core business exhibition.
PSTL is focussed on distribution and exhibition of films. The company had 194 screens under operational management as at end December 2006. The objective of PSTL is to have a presence in all categories of theatres including malls, multiplexes, cineplexes and standalones across the country in Tier I, II and III locations through a long-term lease, improvement in their infrastructure and conversion into digital theatres. The company is establishing an integrated network-operating center to convert films into digital formats. Digital theatres will also function as the delivery medium for other entertainment content and educational centres.
PSTL’s strategy of digital distribution of films in a large number of theaters, simultaneously, as well as improving the film viewing experience will help it to get maximum revenues from the first week of the release of a new film. This augurs well for the company at a time when the shelf-life for films has decreased significantly. Showing new films every week/fortnight is the key to success in distribution and exhibition.
The company reported a net profit of Rs 5.15 crore in the December 2006 quarter on total income of Rs 46.05 crore. For nine-months ended April-Dec 2006, the company reported a net profit of Rs 10.04 crore on revenue of Rs 98.58 crore.
Strides Arcolab joins the action with Norwegian buy
Strides Arcolab rose 1.18% to Rs 385.45, after its European joint venture unit signed an agreement to acquire stake in Norwegian Farma Plus.As many as 18,862 shares were traded in the BSE.The scrip had climbed 8.85% in two consecutive trading sessions from Rs 354.10 to Rs 385.45 on 29 January 2007 by 1 February 2007. The surge came about after Invert Farma Group announced a joint venture to develop products for Spain and Portugal.
The scrip had slipped earlier from Rs 370.20 on 2 January 2007 to Rs 350.25 by 10 January, only to appreciate to Rs 386 by 17 January 2007. Here, the scrip slipped again to Rs 354.10 by 29 January 2007.
At the current market price of Rs 385.45, Strides Arcolab trades at 37.24 times its FY-ended December 2006 EPS of Rs 10.35.
Strides Arcolab said on Thursday that a unit of its European joint venture with Invent Farma signed an agreement to acquire 100% stake in Norway's Farma Plus.
"The signing of the share purchase agreement with shareholders of Farma Plus is a key strategic initiative for both partners, and will help to achieve significant critical mass in the Scandinavian market," Strides Arcolab and Invent Farma said in a joint statement.
Recently, Strides Arcolab and Invent Farma Group, which include Laboratorios Lesvi and Inke, a leading Spanish company, has announced setting up a JV company, to develop a range of products mainly focussed for hospitals in Spain and Portugal.
This will be accomplished through a new 50:50 joint venture (JV) called Laboratorios DOMAC. It is expected that the JV will outsource from the company's exclusive product pipeline of generic and specialty hospital products. The JVC will then outsource from Lesvi Pharmaceuticals sales, distribution and marketing capabilities in Spain and Portugal.
The product dossiers developed by the company will be owned exclusively by the JV company. Growth strategies for the JV will include both organic and inorganic strategies in Europe, to expand territories and further leverage the opportunity.
Further, Strides Arcolab and Akorn have agreed to fund, develop and commercialize an additional 10 ANDA injectable drug products for the Akorn-Strides LLC joint venture. Akorn and the company had created and funded the joint venture in 2005 and have developed and submitted 15 ANDAs.
The joint venture expects to submit additional two ANDAs for a total of 17 ANDAs filed in 2006. The joint venture is developing liquid, lyophilized and dry-powder fill generic injectable products targetting several therapeutic markets with a major focus on anti-infectives, analgesics and CNS medicines.
In November, Strides Arcolab, which manufactures pharmaceutical formulations in various forms, coupled with its contract manufacturing business, acquired Singapore-based Drug Houses of Australia (Asia), for approximately Rs 58 crore. Drug Houses (DHA) had revenues of about Rs 48.4 crore for the year ended December 2005.
DHA offers generic medications to several high-growth segments like diabetes and dermatology. For Strides Arcolab, this acquisition will give it significant synergies such as ready access to the fast-growing generics market in Singapore, Malaysia and Hong Kong.
Strides Arcolab is among the top-five softgel capsule manufacturers with 12 plants spread across the US, Mexico, Brazil and India. Its areas of focus are the regulated markets of US, Europe, Australia, New Zealand, South Africa and Japan.
In India, the company produces oral solid dosage forms, including tablets, soft and hard gelatin capsules and injectables with a separate facility for betalactams. The oral solids plant is rated amongst the best in the country. Strides Arcolab markets products in 50 countries.
Strides Arcolab posted a decline of 15.1% in its net profit at Rs 12.97 crore in Q4 December 2006, compared with Rs 15.28 in Q4 December 2005. Net sales rose 37.6% from Rs 93.93 crore to Rs 129.21 crore.
For the year ended December 2006, Strides Arcolab posted a decline of 21.50% in net profit to Rs 36.18 crore (Rs 46.11 crore). Net sales rose 37.5% to Rs 455.09 crore (Rs 331.07 crore)
The market was strong at higher levels, as buying continued. India's wholesale price index rose 6.11% in the 12 months to 20 January, higher than previous week's annual rise of 5.95% due to a rise in prices of manufactured products and foods, data showed on Friday. The annual inflation rate was 4.24% during the corresponding week of the previous year.
At 12:30 IST the BSE Sensex was up 139.89 points, at 14,406.08. It had opened higher, at 14,293.11, and surged to strike an all-time high of 14,425.21 as buying continued from yesterday (1 February 2007).
The total turnover on BSE amounted to a healthy Rs 2730 crore.Among the 30-member Sensex pack, 25 advanced while the rest declined.Bharti Airtel was the top gainer, up 4.85% to Rs 767.10, on 3.21 lakh shares. It also struck an all-time high of Rs 773, in intra-day trade.
Denso India gains on back of expansion plans
The Denso India stock was up 0.82% in morning trade, at Rs 92.25.The stock clocked high volumes of 2,44,531 shares on the BSE in morning trade. The stock also touched an intra-day high of Rs 94.30.
The company’s share price has not showed any significant up move in the recent past and its results for the December quarter FY-2007, too, were not impressive. Denso India's net profit fell 31.6% to Rs 3.81 crore over the corresponding last year quarter’s figure of Rs 5.57 crore. The commensurate figure for sales was, however, up 11.7% at Rs 114.81 crore.
Today’s gains in the share price have come on the back of the company’s announcement to expand activities, which includes setting up a new unit at Haridwar Industrial Area, Uttara Khand, for manufacturing components for two-wheelers. It will be investing Rs 28 crore over four-years to support this project.
The prospects for the auto ancillaries industry are bullish with India becoming a preferred destination for international automobile companies to source products.
There is no doubt that growth in demand for automobiles in the domestic market will also boost the industry. Denso India specialises in manufacturing automobile electrical equipment. It manufactures alternators, generators, starters, radiator fans, ventilators, magnetos, CDIs, ignition coils and windshield wiper motors, links and other auto-electricals. Its major clients are Maruti Udyog and Hero Honda.
Pyramid Saimira Theatre takes centrestage
Pyramid Saimira Theatre surged 10% to Rs 401.30, extending a solid surge over the past few days.As many as 11.9 lakh shares changed hands in the counter on BSE.
The post-listing surge of film distribution and exibition Pyramid Saimira Theatre (PSTL) had caught market men by surprise. From Rs 158.20 on 5 January 2007 (closing price on BSE on the day of its debut), the stock was valued 153.6% in less than a month. The company had priced its IPO at the higher end of the Rs 88 - Rs 100 price-band.
On 22 January 2007, UBS Securities purchased 2.2 lakh shares at Rs 211 on BSE in a block deal. On the same day, it bought 2.3 lakh share on NSE at Rs 211.55.
Recently, the company’s board approved an arrangement with Ritual Developers, Bangalore, for constructing 15 malls, whereby Pyramid will establish and manage multiplexes in Karnataka.
The company’s board has also authorized the managing director to complete the negotiations pending for Pyramid's foray into northern and western (Chattisgarh, Uttar Pradesh, Madhya Pradesh, Maharashtra and Gujarat) regions. The board also authorized the managing director to discuss with the various developers with whom the company has entered into agreement for multiplexes, for a long term strategic relationship, including formation of a special purpose vehicle (SPV).
The board has also authorized the managing director to look for inorganic growth opportunities in Pyramid's core business exhibition.
PSTL is focussed on distribution and exhibition of films. The company had 194 screens under operational management as at end December 2006. The objective of PSTL is to have a presence in all categories of theatres including malls, multiplexes, cineplexes and standalones across the country in Tier I, II and III locations through a long-term lease, improvement in their infrastructure and conversion into digital theatres. The company is establishing an integrated network-operating center to convert films into digital formats. Digital theatres will also function as the delivery medium for other entertainment content and educational centres.
PSTL’s strategy of digital distribution of films in a large number of theaters, simultaneously, as well as improving the film viewing experience will help it to get maximum revenues from the first week of the release of a new film. This augurs well for the company at a time when the shelf-life for films has decreased significantly. Showing new films every week/fortnight is the key to success in distribution and exhibition.
The company reported a net profit of Rs 5.15 crore in the December 2006 quarter on total income of Rs 46.05 crore. For nine-months ended April-Dec 2006, the company reported a net profit of Rs 10.04 crore on revenue of Rs 98.58 crore.
Strides Arcolab joins the action with Norwegian buy
Strides Arcolab rose 1.18% to Rs 385.45, after its European joint venture unit signed an agreement to acquire stake in Norwegian Farma Plus.As many as 18,862 shares were traded in the BSE.The scrip had climbed 8.85% in two consecutive trading sessions from Rs 354.10 to Rs 385.45 on 29 January 2007 by 1 February 2007. The surge came about after Invert Farma Group announced a joint venture to develop products for Spain and Portugal.
The scrip had slipped earlier from Rs 370.20 on 2 January 2007 to Rs 350.25 by 10 January, only to appreciate to Rs 386 by 17 January 2007. Here, the scrip slipped again to Rs 354.10 by 29 January 2007.
At the current market price of Rs 385.45, Strides Arcolab trades at 37.24 times its FY-ended December 2006 EPS of Rs 10.35.
Strides Arcolab said on Thursday that a unit of its European joint venture with Invent Farma signed an agreement to acquire 100% stake in Norway's Farma Plus.
"The signing of the share purchase agreement with shareholders of Farma Plus is a key strategic initiative for both partners, and will help to achieve significant critical mass in the Scandinavian market," Strides Arcolab and Invent Farma said in a joint statement.
Recently, Strides Arcolab and Invent Farma Group, which include Laboratorios Lesvi and Inke, a leading Spanish company, has announced setting up a JV company, to develop a range of products mainly focussed for hospitals in Spain and Portugal.
This will be accomplished through a new 50:50 joint venture (JV) called Laboratorios DOMAC. It is expected that the JV will outsource from the company's exclusive product pipeline of generic and specialty hospital products. The JVC will then outsource from Lesvi Pharmaceuticals sales, distribution and marketing capabilities in Spain and Portugal.
The product dossiers developed by the company will be owned exclusively by the JV company. Growth strategies for the JV will include both organic and inorganic strategies in Europe, to expand territories and further leverage the opportunity.
Further, Strides Arcolab and Akorn have agreed to fund, develop and commercialize an additional 10 ANDA injectable drug products for the Akorn-Strides LLC joint venture. Akorn and the company had created and funded the joint venture in 2005 and have developed and submitted 15 ANDAs.
The joint venture expects to submit additional two ANDAs for a total of 17 ANDAs filed in 2006. The joint venture is developing liquid, lyophilized and dry-powder fill generic injectable products targetting several therapeutic markets with a major focus on anti-infectives, analgesics and CNS medicines.
In November, Strides Arcolab, which manufactures pharmaceutical formulations in various forms, coupled with its contract manufacturing business, acquired Singapore-based Drug Houses of Australia (Asia), for approximately Rs 58 crore. Drug Houses (DHA) had revenues of about Rs 48.4 crore for the year ended December 2005.
DHA offers generic medications to several high-growth segments like diabetes and dermatology. For Strides Arcolab, this acquisition will give it significant synergies such as ready access to the fast-growing generics market in Singapore, Malaysia and Hong Kong.
Strides Arcolab is among the top-five softgel capsule manufacturers with 12 plants spread across the US, Mexico, Brazil and India. Its areas of focus are the regulated markets of US, Europe, Australia, New Zealand, South Africa and Japan.
In India, the company produces oral solid dosage forms, including tablets, soft and hard gelatin capsules and injectables with a separate facility for betalactams. The oral solids plant is rated amongst the best in the country. Strides Arcolab markets products in 50 countries.
Strides Arcolab posted a decline of 15.1% in its net profit at Rs 12.97 crore in Q4 December 2006, compared with Rs 15.28 in Q4 December 2005. Net sales rose 37.6% from Rs 93.93 crore to Rs 129.21 crore.
For the year ended December 2006, Strides Arcolab posted a decline of 21.50% in net profit to Rs 36.18 crore (Rs 46.11 crore). Net sales rose 37.5% to Rs 455.09 crore (Rs 331.07 crore)
posted by SY at 4:45 PM
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