Sensex spurts nearly 200 points
The Sensex, which had opened firm, kept advancing on strong demand for index pivotals. At 14:36 IST the BSE Sensex was up 191.86 points, at 14,459.46. It had opened higher, at 14,293.11, and had gone on to attain a fresh all-time high of 14,462.77. The new found vigour on the bourses is because of firm global bourses after the US Federal Reserve’s decision to keep interest rates steady.
The market-breadth was strong, as buying for small-cap and mid-cap stocks heightened. For 1,535 shares advanced, 1082 declined. A total of 69 remained unchanged. Analysts expect the action to stay in this space, outperforming large-cap peers on account of robust results.
The total turnover on BSE amounted to a healthy Rs 4409 crore.Among the 30-member Sensex pack, 25 advanced while the rest declined.
Biocon cooling down
Biotech major Biocon was up 2.4% to Rs 420, and on the way down from a high of Rs 451.80 attained at 13:53 IST.At this high, the stock rose 10% for the day. As many as 7.1 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. It had firmed up further to reach Rs 425.25 on 22 January 2007 before correcting to Rs 410 by 1 February 2007.
Earlier, the stock was range-bound for about two months, when it moved between Rs 346 and Rs 378 between late Nov 2006 and mid-January 2007.
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 being a generic company to a discovery-led lifescience company.
Biocon’s oral insulin programme has successfully completed Phase I human clinical trials, and the company expects to enter Phase II trials later this year.
Biocon has signed a memorandum of understanding (MoU) to enter into a JV with NMC group in Abu Dhabi for strategic marketing and manufacturing cooperation for the GCC region. 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 in the GCC region.
Biocon has given an exclusive license to Ferozsons Laboratories for marketing BIOMAb EGFR in Pakistan.
L&T continues to charge ahead
L&T surged 4.6% to Rs 1675, on renewed buying.The stock also hit a lifetime high of Rs 1690. As many as 2.2 lakh shares changed hands in the counter on BSE.
L&T had a solid pre-results' surge. From Rs 1409.10 on 10 January 2007, the stock surged 11.9% to Rs 1576.80 by 24 January 2007. On the day of results, 25 January 2007, the stock moved up to Rs 1613.15. It also moved in a narrow range over the next three trading sessions.
L&T's net profit rose 46% in the December 2006 quarter to Rs 343.90 crore, on 12% growth in sales to Rs 4118.42 crore. On a consolidated basis, the net profit was higher by 80% to Rs 604 crore. Consolidated revenue rose 21% to Rs 5183 crore.
Increased activity in the infrastructure and hydrocarbon sector helped the company's engineering and construction (E&C) segment notch up orders worth Rs 8,172 crore during the quarter. The order backlog of E&C business was at Rs 34142 crore as at end-December 2006.
Recently, L&T bagged three orders amounting to Rs 355 crore from Delhi Metro Rail Corporation (DMRC) for the second phase of the Delhi metro project. These orders will be executed by ECC, the company's construction division.
L&T, of late, has been focussing on projects of large magnitude in airport, ports, power and upstream gas and oil sectors.
L&T has also decided to start developing properties at Bangalore and Hyderabad through Urban Infrastructure, a subsidiary, which owned land worth Rs 2,500 crore as on 1 October 2005.
Tata Chemicals afire on signing JV to vend vegetables, fruits
Tata Chemicals surged 3.73% to Rs 237.75, after agreeing on an equal joint venture with Ireland's Total Produce, to distribute fruits and vegetables across India.As many as 2.17 lakh shares were traded on the BSE.
The stock has surged from the low of Rs 212.75 on 10 January 2007, to Rs 229.20 by 1 February 2007. Earlier, the stock had depreciated from a high of Rs 224.25 on 15 December 2006 to Rs 212.75 by 10 January 2007.
At the current market price of Rs 237.75, Tata Chemicals trades at 10.95 times its Q3 December 2006 annualized EPS of Rs 21.71.
Tata Chemicals posted a net profit growth of 19.40% to Rs 116.77 crore (Rs 97.81 crore) in Q3 December 2006. Net sales rose 3.9% to Rs 1307.29 crore (Rs 1257.88 crore).
Tata Chemicals and Ireland's Total Produce, spun off from Irish fruit distributor, Fyffes, have agreed to form an equal joint venture to distribute fresh fruits and vegetables in India, the two companies said on Thursday.
The joint venture will set up a distribution network and begin supplies to Indian retailers and wholesellers. It will first set up centers in the north and east at a cost of Rs 26 crore.
Recently, GE Water & Process Technologies, a unit of GE Infrastructure, bagged a contract for a desalination plant for Tata Chemicals, at Mithapur, Gujarat. The first seawater desalination plant in the country, will be set up on a build-own-operate basis for a four-year period. The contract is worth $ 6.5 million.
As per reports earlier last year, the company is open to acquisitions in a bid to increase manufacturing capacity. It had also begun exporting edible salt as ‘Tata Topp’. Moreover, it plans to diversify beyond salt and baking soda in the food additives business.
Tata Chemicals has also decided to accelerate marketing activities around its key brand of edible salt - Tata Salt. It will test-market Re 1 sachets in select markets. The company’s retail network for food additives is being expanded to 18 lakh outlets this year from 13 lakh at present.
The company exports edible salt to Singapore, Yemen and southeast Asian markets.
Last year, Tata Chemicals acquired the remaining 36.5% of the paid-up capital in the Brunner Mond group for Rs 290 crore through its wholly-owned subsidiary. The company had also acquired 63.5 % of the paid-up capital from Wayland Investments and Barclays Bank for Rs 508 crore.
Post-acquisition, Tata Chemicals became the world's third-largest producer of soda ash, the Brussels-based Solvay and US-listed FMC Corp occupying the first and second slots, respectively. Further, the company in 2005 picked up 33% stake in IMACID, Morocco.
Tata Chemicals had a presence in Asia and some countries in the Middle East. The Brunner Mond acquisition, apart from expanding its presence in Asia, also gives it access to Germany and France as well as Africa.
Tata Chemicals is a leading manufacturer of chemicals, fertilizers and food additives. It is one of the largest manufacturers of synthetic soda ash in the world, enjoys leadership in the Indian edible salt market, and is the most efficient manufacturer of urea in the country.
The market-breadth was strong, as buying for small-cap and mid-cap stocks heightened. For 1,535 shares advanced, 1082 declined. A total of 69 remained unchanged. Analysts expect the action to stay in this space, outperforming large-cap peers on account of robust results.
The total turnover on BSE amounted to a healthy Rs 4409 crore.Among the 30-member Sensex pack, 25 advanced while the rest declined.
Biocon cooling down
Biotech major Biocon was up 2.4% to Rs 420, and on the way down from a high of Rs 451.80 attained at 13:53 IST.At this high, the stock rose 10% for the day. As many as 7.1 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. It had firmed up further to reach Rs 425.25 on 22 January 2007 before correcting to Rs 410 by 1 February 2007.
Earlier, the stock was range-bound for about two months, when it moved between Rs 346 and Rs 378 between late Nov 2006 and mid-January 2007.
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 being a generic company to a discovery-led lifescience company.
Biocon’s oral insulin programme has successfully completed Phase I human clinical trials, and the company expects to enter Phase II trials later this year.
Biocon has signed a memorandum of understanding (MoU) to enter into a JV with NMC group in Abu Dhabi for strategic marketing and manufacturing cooperation for the GCC region. 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 in the GCC region.
Biocon has given an exclusive license to Ferozsons Laboratories for marketing BIOMAb EGFR in Pakistan.
L&T continues to charge ahead
L&T surged 4.6% to Rs 1675, on renewed buying.The stock also hit a lifetime high of Rs 1690. As many as 2.2 lakh shares changed hands in the counter on BSE.
L&T had a solid pre-results' surge. From Rs 1409.10 on 10 January 2007, the stock surged 11.9% to Rs 1576.80 by 24 January 2007. On the day of results, 25 January 2007, the stock moved up to Rs 1613.15. It also moved in a narrow range over the next three trading sessions.
L&T's net profit rose 46% in the December 2006 quarter to Rs 343.90 crore, on 12% growth in sales to Rs 4118.42 crore. On a consolidated basis, the net profit was higher by 80% to Rs 604 crore. Consolidated revenue rose 21% to Rs 5183 crore.
Increased activity in the infrastructure and hydrocarbon sector helped the company's engineering and construction (E&C) segment notch up orders worth Rs 8,172 crore during the quarter. The order backlog of E&C business was at Rs 34142 crore as at end-December 2006.
Recently, L&T bagged three orders amounting to Rs 355 crore from Delhi Metro Rail Corporation (DMRC) for the second phase of the Delhi metro project. These orders will be executed by ECC, the company's construction division.
L&T, of late, has been focussing on projects of large magnitude in airport, ports, power and upstream gas and oil sectors.
L&T has also decided to start developing properties at Bangalore and Hyderabad through Urban Infrastructure, a subsidiary, which owned land worth Rs 2,500 crore as on 1 October 2005.
Tata Chemicals afire on signing JV to vend vegetables, fruits
Tata Chemicals surged 3.73% to Rs 237.75, after agreeing on an equal joint venture with Ireland's Total Produce, to distribute fruits and vegetables across India.As many as 2.17 lakh shares were traded on the BSE.
The stock has surged from the low of Rs 212.75 on 10 January 2007, to Rs 229.20 by 1 February 2007. Earlier, the stock had depreciated from a high of Rs 224.25 on 15 December 2006 to Rs 212.75 by 10 January 2007.
At the current market price of Rs 237.75, Tata Chemicals trades at 10.95 times its Q3 December 2006 annualized EPS of Rs 21.71.
Tata Chemicals posted a net profit growth of 19.40% to Rs 116.77 crore (Rs 97.81 crore) in Q3 December 2006. Net sales rose 3.9% to Rs 1307.29 crore (Rs 1257.88 crore).
Tata Chemicals and Ireland's Total Produce, spun off from Irish fruit distributor, Fyffes, have agreed to form an equal joint venture to distribute fresh fruits and vegetables in India, the two companies said on Thursday.
The joint venture will set up a distribution network and begin supplies to Indian retailers and wholesellers. It will first set up centers in the north and east at a cost of Rs 26 crore.
Recently, GE Water & Process Technologies, a unit of GE Infrastructure, bagged a contract for a desalination plant for Tata Chemicals, at Mithapur, Gujarat. The first seawater desalination plant in the country, will be set up on a build-own-operate basis for a four-year period. The contract is worth $ 6.5 million.
As per reports earlier last year, the company is open to acquisitions in a bid to increase manufacturing capacity. It had also begun exporting edible salt as ‘Tata Topp’. Moreover, it plans to diversify beyond salt and baking soda in the food additives business.
Tata Chemicals has also decided to accelerate marketing activities around its key brand of edible salt - Tata Salt. It will test-market Re 1 sachets in select markets. The company’s retail network for food additives is being expanded to 18 lakh outlets this year from 13 lakh at present.
The company exports edible salt to Singapore, Yemen and southeast Asian markets.
Last year, Tata Chemicals acquired the remaining 36.5% of the paid-up capital in the Brunner Mond group for Rs 290 crore through its wholly-owned subsidiary. The company had also acquired 63.5 % of the paid-up capital from Wayland Investments and Barclays Bank for Rs 508 crore.
Post-acquisition, Tata Chemicals became the world's third-largest producer of soda ash, the Brussels-based Solvay and US-listed FMC Corp occupying the first and second slots, respectively. Further, the company in 2005 picked up 33% stake in IMACID, Morocco.
Tata Chemicals had a presence in Asia and some countries in the Middle East. The Brunner Mond acquisition, apart from expanding its presence in Asia, also gives it access to Germany and France as well as Africa.
Tata Chemicals is a leading manufacturer of chemicals, fertilizers and food additives. It is one of the largest manufacturers of synthetic soda ash in the world, enjoys leadership in the Indian edible salt market, and is the most efficient manufacturer of urea in the country.
posted by SY at 4:51 PM
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