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« Previous Entries Next Entries »Ranbaxy at all time high
Tuesday, June 10th, 2008Pharma is the only sector which have under performed last year and we are seeingoutperformance from Pharma sector this time in falling market. All the stocks specially heavy weigts like Ranbaxy, Dr Reddy and Sun Pharma are showing tremendous strength. Ranbaxy is up today at 545 which is life time high for it. We recommend to take partial profit from Pharma companies and reenter at low levels which will be coming soon.
Suzlon Energy loses on Order Cancellation
Tuesday, June 10th, 2008Suzlon Energy which was showing relative strength in falling market have lost considerably in last two days. In todays morning session it was down nearly 4% and was quoting at 252. The fall was initiated by media report saying thier largest customer Edison Mission Energy has canceled order for 150 turbines.
Sterlite Inds now 3rd largets miner- Acquires Asarco
Monday, June 2nd, 2008CNBC Tv reported that one of the largest mining company of India- Sterlite Industry have acquired one of major mining company called Asarco for USD 2.6 billion. And with the acquisition of this company now Sterlite is 3rd largest miner in the world. Stock also reacted nicely to this news report and was trading at 950 up almost 1.5%.
Maruti Sales number for May- up 16%
Monday, June 2nd, 2008Maruti have come up with numbers for its performance in month of May 2008 and has been very good month for them.The company have seen robust increase in their monthly sales data. They have sold 69,001 units in month of may as compared to 59,400 units in month of May in 2007.
Hot Stock Tip of Day- Buy Punj Lloyd
Monday, June 2nd, 2008Punjj Lloyd has today lost a reasonable grounds today and is trading between 292-305 and looking at the FY08 result and potential in business is expected to have similar growth in the future as well. We strongly recommend to buy the stock at current value with target of atleast 400 in near future and above 500 in year down the line.
Punj Lloyd loses 9%
Monday, June 2nd, 2008Punj Lloud was trading at extremely low levels today and lost almost 9% eventhough its FY08 results are upto the expected and was at 358.42 cr versus 196 cr YOY. It was trading at Rs 292 down 9% from Friday closing of 320.6- Rs.
HCC up 6%
Friday, May 30th, 2008Hindustan Construction Company has gained excellently in today afternoon trade and was up nearly 6% trading at 117.50 Rs. All the construction sector is buzzing but HCC amongst major one. No news is yet identified.
Aegis Logistic zooms on results
Friday, May 30th, 2008Aegis logistic have today announced it result and the stock have reacted very well to the results. Stock is quoting at 248.25 right now up nearly 2.5%. Company has posted net profit of Rs. 12.03 crores versus 6.88 crore last year same quarter.
Meghmani ropes in IFC as a strategic investor for environmentally friendly chlor-alkali plant
Thursday, March 13th, 2008Meghmani Organics Ltd has informed BSE that Meghmani Finechem Ltd (MFL), a subsidiary of the Company and a global manufacturer of pigments and agrochemicals, has roped in IFC, a member of the World Bank Group, as a strategic investor in its proposed Rs 554.2 crores investor for its chlor a plant in Dahej, Gujarat, which will employ environmentally friendly and energy efficient membrane cell technology.
IFC will invest up to Rs 46.1 crore in MFL, equal to 25% equity of the project. This is a significant development as MFL is the first project for which IFC has gone beyond its normal investment norm of 20% to close the financial gap, thus reflecting its confidence in the potential and viability of the project Besides equity investment IFC is also provided Rs 80 crores as a long term loan and will have the right to subscribe to warrants of upto Rs five crores (Rs 5 crores).
The commercial production of the first phase is targeted to commence by December 2008 / January 2009. Phase 2 will comprise the production of derivative products with higher value-addition.
Responding, Mr. Ashish Soparkar, Director of Meghmani Finechem, says “This IFC investment is a vote of confidence in the potential and viability of this project. They are uniquely positioned also to help us develop environmental, health, social and safety management systems and practices at the new plant”.
“MOL sees the investment in this project as an opportunity for the Group to achieve inorganic growth in a diversified yet chemistry-related business with positive growth potential. With its established track record in R&D capabilities gleaned from its years in the Pigments and Agrochemical industries, the Group is able to leverage on is excellent infrastructure for MFI. such as its integrated manufacturing facilities, R&D laboratories and skilled work force.
For Meghmani, MFL’s plant when ready will provide it with a ready and captive source of same of the basic chemicals as the Group consumes significant quantities of caustic soda, chlorine gas and derivatives of chlorine gas for its pigments and agrochemicals operations” Soparkar noted.
First announced in October last year, the project involves the development of a large scale caustic chlorine complex that will produce caustic soda lye / flakes, chlorine gas and hydrogen gas in the first phase. Subsequent phases will involve downstream / derivative projects based on caustic / chlorine. The caustic-chlorine chemicals are used in a multitude of industries including pigments, pesticides, production of metals and resource materials, pulp and paper, petroleum and natural gas extraction; manufacture of organic chemicals, plastics, industrial solvents, water treatment chemicals and pharmaceuticals. The complex is to utilize 4th generation Membrane Cell Technology from Asahi Kasci Chemicals Corporation of Japan, one of the most established technology providers for the manufacture of chlor-alkali chemicals in the world.
For the project, MOL has acquired 161-acre (approximately 650,000 sq m) site. Dahej in
Bharueh district is widely considered a strategic location for chemical and related industries as it is an approved Chemical Special Economic Zone with a high concentration of chemicals companies. It also has important infrastructure in place such as communications, effluent treatment, and power and water / sanitation facilities.
In addition, Dahej possesses a chemical port which has jetties capable of handling gaseous, liquid and solid cargoes and is well-connected by rail, road and sea for easy transportation of raw material and end products.
Source: BSE
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Glenmark Pharmaceuticals - Glenmark launches Nabumetone & Hydroxyzine Hydrochloride Tablets
Thursday, March 13th, 2008Glenmark Pharmaceuticals Ltd has informed BSE that Glenmark Pharmaceuticals Inc (GPI), the US subsidiary of Glenmark Pharmaceuticals Ltd (Glenmark), has initiated the marketing and distribution of Nabumetone tablets and Hydroxyzine Hydrochloride tablets in the U.S. market.
Glenmark commenced shipping immediately upon final approval from the U.S. Food and Drug Administration for an Abbreviated New Drug Application (ANDA) for: Nabumetone tablets in 500mg and 750mg strengths and Hydroxyzine Hydrochloride tablets in 10mg, 25mg and 50mg strengths, through its partnership with InvaGen Pharmaceuticals Inc (Invagen).
The Company will exclusively market and distribute Nabumetone and Hydroxyzine Hydrochloride tablets while InvaGen will be responsible for their manufacture and supply. All development, regulatory costs and profits on Nabumetone and Hydroxyzine hydrichloride tablets’s sale in the US will be shared equally between Glenmark and Invagen.
Nabumetone is a non-steroidal anti-inflammatory drug and is used to treat pain or inflammation caused by arthritis. According to IMS Health data, for the 12 month period ending December 2007, the market size of Nabumetone was USD 97 million.
Hydroxyzine belongs to a group of medicines called sedating antihistamines Hydrbxyzine’s main use is to help in the treatment of anxiety. According to IMS Health data, for the 12 month period ending December 2007, the market size of Hydroxyzine Hydrochloride was USD 60 million.
In FY 06, Glenmark and InvaGen entered into a collaboration agreement for the joint development, filing and marketing of seven generic pharmaceutical products for the US market. The product list included a mixture of off-patent and patent-protected molecules with cumulative annual sales in the US of about USD 4.1 billion.
This recent approval expands Glenmark’s portfolio to 28 generic products for the US market. The Company has over 35 ANDAs undergoing review with the US FDA for approval / launch.
Source: BSE
Technorati Tags: Glenmark Pharmaceuticals
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