Financial Daily
from THE HINDU group of publications
Wednesday, May 02, 2001
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Financial Daily from THE HINDU group of publications Wednesday, May 02, 2001 |
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Novartis: Sizable cash flow, but...
THE possibility of a sizable cash inflow for Novartis from sale of properties may not improve valuation of the stock.
Novartis and Ciba CKD (which is to merged with Novartis) have entered into an agreement to sell their properties in Mumbai. The sale is expected to fetch around Rs 95 crore over a period of time. This cash flow may help Novartis improve its core operatio
ns but the effect may get reflected only in the medium to long term. In this backdrop, the stock may at best show flat trend in the short term. BL Research Bureau
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