Financial Daily from THE HINDU group of publications
Sunday, Aug 31, 2003
Financial Daily from THE HINDU group of publications Sunday, Aug 31, 2003 |
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Investment World
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Stock Markets Markets - Commentary Up `n' down the street G. Madhan
Ranbaxy Labs (Rs 1,001): The stock rose 13 per cent. This has to be seen in the light of the recent approvals given by the US Food & Drug Administration for multiple drugs of the company. Morepen Labs (Rs 16): The stock surged by a whopping 60.7 per cent on expectations that there would be a sharp increase in export demand for the company's drug `Loratidine'. Marico Industries (Rs 214): The stock was up 22.2 per cent on the back of announcement that it would enhance its presence in skin care, hair care and on health foods. Ipca Labs (Rs 503): The stock zoomed 39.1 per cent. The market sentiment associated with pharma stocks turned bullish this week. Several pharma stocks including Ajanta Pharma, Astrazeneca Pharma, Glenmark Pharma and Shasun Chemicals posted gains. Polaris Software (Rs 142): The stock rose 22.6 per cent on market talk that global IT major IBM might pick up stake in the company. However, the company has denied these rumours. Ballarpur Industries (Rs 68): The stock rose 8.5 per cent on expectation of firm trends in paper prices. Bharti Tele Ventures (Rs 69): The stock rose 9 per cent. It may stand to gain on account of consolidation in the cellular industry following the TDSAT judgment on limited mobility. HPCL (Rs 430): The stock rose 7.3 per cent. This rise has to be seen in the light of the due diligence process has started by bidders for its proposed disinvestment. Dhampur Sugar (Rs 25): The stock rose 6.9 per cent. The stock has been witnessing uptrend ever since the Union Cabinet declared a package worth Rs 678 crore for sugarcane growers. Zee Telefilms (Rs 102): The stock fell 11.8 per cent on uncertainties over implementation of Conditional Access System.
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