Financial Daily from THE HINDU group of publications
Wednesday, Jan 02, 2002
Financial Daily from THE HINDU group of publications Wednesday, Jan 02, 2002 |
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Markets
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Commentary Columns - Ear to the ground Wockhardt eyes US biotech market
PHARMA major Wockhardt Ltd is launching its biotechnology product, r-erythropoeitin `Epox' in the US market. This is the second biotechnology product from the company. Wockhardt plans to bring out about five to six biotechnology products in the next two years. On back of these developments, the stock market has turned bullish in the counter. However, the information is yet to be fully discounted by the market. On Tuesday, the scrip ended 0.99 per cent higher at Rs 489 on the BSE and on the NSE, closed at Rs 490, up by 0.79 per cent.
Morepen up on brand buying spree
AFTER buying out the popular brand Burnol from Reckitt Piramal, the Delhi-based Morepen Laboratories is understood to be on a buying spree of more brands in the OTC segment. According to market sources, the company is on an advanced stage of negotiations to buy out two brands: in the cough and cold segment. The scrip on Tuesday closed at Rs 63.05, up 1.1 per cent with 8.01 lakh shares being traded on the BSE. On the NSE, the scrip moved up by one per cent to close at Rs 63.25 with 10.6 lakh shares being traded.
HFCL, GTL show record volumes
THE day-traders seemed to be taking control over Ketan Parekh's two favorite counters - HFCL and GTL. Both these stocks witnessed record volumes. On the first day of the New Year, HFCL witnessed a record volume of 6.34 crore shares (combined on the BSE and the NSE), which is 80 per cent of the company's outstanding shares of 7.88 crore shares. However, HFCL ended lower at Rs 83.40, down five per cent. In GTL, the total volume was 3.55 crore shares (2.46 crore on the NSE and 1.09 crore on the BSE), which works out to 46 per cent of the paid-up capital of 7.65 crore shares. GTL closed 7.4 per cent down at Rs 118.35. Market talk was that day traders are speculating in these counters ahead of the JPC meet, which begins from January 3. The promoters of these two companies are being called for the JPC relating to the Ketan Parekh scam in March 2001.
Virendra Verma/Aparna Krishnan
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