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Buyback plans sweeten Cadbury

Aparna Krishnan

Virendra Verma

CADBURY India shot up on Tuesday on anticipation of buyback proposal from the chocolate major. Another factor driving the price was the expectation of a special dividend on completion of 50 years in India. The stock ended 9.39 per cent higher at Rs 439.0 5 on the BSE and 9.49 per cent higher at Rs 438.90 on the NSE. The rise is price was along with increase in volumes. The total shares traded on the NSE was 50,451 compared to 17,407 shares traded on Monday and at the BSE, the volume was 39,720 shares up from 10,364 on Monday.

MNC pharma scrips: No price control?

MNC pharma stocks were in the limelight on Tuesday on expectation that the drugs on the Drug Price Control Order (DPCO) list will not include some of MNC companies' major products. The announcement is expected either late next month or early next year. I n the likely event, a number of MNC pharma companies such as Glaxo, E-Merck, Novartis, Pfizer and Aventis Pharma are expected to gain. On back of this, stock price of these companies gained on Tuesday.

Polaris: Activity without price rise!

THERE was a sharp rise in the trading volumes in the Polaris Software counter on Tuesday. Most of the transactions done were mainly from the institutional investors. However, there was not much change in the share price of the company. On the NSE around 15.33 lakh shares were traded, up from 4.30 lakh shares on Monday. The scrip closed 0.89 per cent lower at Rs 88.30. On the BSE, 13.39 lakh shares were exchanged as against 4.22 lakh shares on Monday with the scrip closing at Rs 87.75, down 2.7 per cent. There has been lot of institutional activity in the counter in the last few weeks, dealers said.