Sensex pares gain after an early surge
The market opened firm on firm Asian bourses, higher overnight closing of Indian ADRs and the US Federal Reserve's decision to keep interest rates steady. At 10:22 IST the Sensex was up 77 points, at 14,168. It had rallied as many as 111.13 points, to a high of 14,202.05, at the onset of trading.
The market-breadth was also strong. Against 1,231 shares rising on BSE, 687 declined and 48 did not change. Gainers outpaced losers by a ratio of 1.79:1.The BSE clocked a turnover of Rs 561 crore.ACC rose 1.6% to Rs 1036.70, on expectations of strong December 2006 quarter numbers. ACC unveils Dec-2006 quarter results today.Tata Motors rose 1.5% to Rs 891.25.ITC gained 1.3% to Rs 176. During trading hours on Wednesday, ITC reported strong Q3 results.
Thermax on the move
Thermax gained 3% to Rs 418, after reporting 88% net profit growth in the December 2006 quarter.As many as 3,986 shares changed hands in the counter on BSE.
The stock had surged in mid-January 2007 only to pare gains later. From Rs 372.05 on 10 January 2007, the scrip surged to Rs 429.30 by 16 January 2007. Thermax's scrip then slipped to Rs 405.20 by 31 January. The results hit the market after trading hours on 31 January 2007.
Thermax reported 88% growth in net profit in the December 2006 quarter to Rs 55.45 crore (Rs 29.46 crore). Total income during the same quarter went up to Rs 558.17 crore (Rs 362.37 crore).
Orders that Thermax Group received in April-December 2006 period increased more than 94% to Rs 3024 crore compared to Rs 1559 crore during the same period of the previous fiscal.
Given the buoyancy in its businesses, Thermax expects to end the financial year with a top line growth of over 35% over the previous year.Thermax’s board approved the appointment of M S Unnikrishnan as Managing Director. He will take charge from 1 July 2007.
Fresh buy propels Alembic
Alembic rose 3.48% to Rs 68.30, after acquiring Dabur Pharma's non-oncology Indian business for Rs 159 crore.Dabur Pharma's non-oncology formulations business comprises high growth lifestyle segments like cardiovascular, diabetic, gastrointestinal, gynaecology and more. The transaction will be completed in about two months.
The acquisition will be funded through a combination of internal accruals and debt, Alembic informed through a statement issued to the exchanges. The company has also not ruled out dilution of small equity to fund the takeover. "We will be leveraging the company’s strong financial position for fuelling further growth," Alembic said.
The acquired business had net sales of Rs 62 crore for April-December 2006, and is expected to post a sales of Rs 80 crore for the full year.As many as 63,404 shares were traded in the counter on BSE.Recently, the company had split the face value of its equity shares from Rs 10 per share to Rs 2 per share, with 4 October 2006 as a record date.The stock had traded in the Rs 63.15 - Rs 68 range for the past two weeks.
Alembic reported 5.30% growth in Q2 September 2006 net profit to Rs 25.17 crore (Rs 23.91 crore). Net sales rose 10.60% to Rs 183.76 crore (Rs 166.18 crore).
Alembic is a leading pharmaceutical company in India. The company develops, manufactures and markets pharmaceutical products, pharmaceutical substances and intermediates.
Alembic is a market leader in macrolides segment of anti-infective drugs in India. ‘Zero’ (sugar free), Glycodin (cough syrup) and Althrocin (erythromycin estolate) are some of the leading brands from the company's stable.
Alembic’s manufacturing facilities are located at Vadodara and Panelav in Gujarat, and at Baddi in Himachal Pradesh. The Vadodara plant has the largest fermentation capacity in India. The Panelav facility houses both API (USFDA approved) and formulation manufacturing (to undertake US FDA inspection shortly) plants.
The plant at Baddi, Himachal Pradesh, manufactures formulations. The company also has a research centre, BioArc, at Vadodara.
The market-breadth was also strong. Against 1,231 shares rising on BSE, 687 declined and 48 did not change. Gainers outpaced losers by a ratio of 1.79:1.The BSE clocked a turnover of Rs 561 crore.ACC rose 1.6% to Rs 1036.70, on expectations of strong December 2006 quarter numbers. ACC unveils Dec-2006 quarter results today.Tata Motors rose 1.5% to Rs 891.25.ITC gained 1.3% to Rs 176. During trading hours on Wednesday, ITC reported strong Q3 results.
Thermax on the move
Thermax gained 3% to Rs 418, after reporting 88% net profit growth in the December 2006 quarter.As many as 3,986 shares changed hands in the counter on BSE.
The stock had surged in mid-January 2007 only to pare gains later. From Rs 372.05 on 10 January 2007, the scrip surged to Rs 429.30 by 16 January 2007. Thermax's scrip then slipped to Rs 405.20 by 31 January. The results hit the market after trading hours on 31 January 2007.
Thermax reported 88% growth in net profit in the December 2006 quarter to Rs 55.45 crore (Rs 29.46 crore). Total income during the same quarter went up to Rs 558.17 crore (Rs 362.37 crore).
Orders that Thermax Group received in April-December 2006 period increased more than 94% to Rs 3024 crore compared to Rs 1559 crore during the same period of the previous fiscal.
Given the buoyancy in its businesses, Thermax expects to end the financial year with a top line growth of over 35% over the previous year.Thermax’s board approved the appointment of M S Unnikrishnan as Managing Director. He will take charge from 1 July 2007.
Fresh buy propels Alembic
Alembic rose 3.48% to Rs 68.30, after acquiring Dabur Pharma's non-oncology Indian business for Rs 159 crore.Dabur Pharma's non-oncology formulations business comprises high growth lifestyle segments like cardiovascular, diabetic, gastrointestinal, gynaecology and more. The transaction will be completed in about two months.
The acquisition will be funded through a combination of internal accruals and debt, Alembic informed through a statement issued to the exchanges. The company has also not ruled out dilution of small equity to fund the takeover. "We will be leveraging the company’s strong financial position for fuelling further growth," Alembic said.
The acquired business had net sales of Rs 62 crore for April-December 2006, and is expected to post a sales of Rs 80 crore for the full year.As many as 63,404 shares were traded in the counter on BSE.Recently, the company had split the face value of its equity shares from Rs 10 per share to Rs 2 per share, with 4 October 2006 as a record date.The stock had traded in the Rs 63.15 - Rs 68 range for the past two weeks.
Alembic reported 5.30% growth in Q2 September 2006 net profit to Rs 25.17 crore (Rs 23.91 crore). Net sales rose 10.60% to Rs 183.76 crore (Rs 166.18 crore).
Alembic is a leading pharmaceutical company in India. The company develops, manufactures and markets pharmaceutical products, pharmaceutical substances and intermediates.
Alembic is a market leader in macrolides segment of anti-infective drugs in India. ‘Zero’ (sugar free), Glycodin (cough syrup) and Althrocin (erythromycin estolate) are some of the leading brands from the company's stable.
Alembic’s manufacturing facilities are located at Vadodara and Panelav in Gujarat, and at Baddi in Himachal Pradesh. The Vadodara plant has the largest fermentation capacity in India. The Panelav facility houses both API (USFDA approved) and formulation manufacturing (to undertake US FDA inspection shortly) plants.
The plant at Baddi, Himachal Pradesh, manufactures formulations. The company also has a research centre, BioArc, at Vadodara.
posted by SY at 1:35 PM
0 Comments:
Post a Comment
<< Home