Financial Daily from THE HINDU group of publications
Saturday, Jul 17, 2004
Financial Daily from THE HINDU group of publications Saturday, Jul 17, 2004 |
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Markets
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Stock Markets Growth prospects seen driving Vimta Labs Jayanta Mallick
Kolkata , July 16 THE Vimta Labs stock registered a good volume and an 8.5 per cent price rise creating its 52-week high on the BSE today. The counter has been attracting attention after analysts of a leading foreign broking firm recently met the company management and later on reportedly advised "favourably" to its clients. However, the firm has not put up a "buy" recommendation for the stock, but some operators seemed to have taken a cue. According to market sources, the sharp growth expectation was doing the rounds on the Dalal Street today. A slow and gradual accumulation, is said to be the strategy of some players. The stock has moved up by 18.5 per cent in the last five days. The company has declared impressive first quarter results with a topline growth of 89 per cent and bottomline 184 per cent, Mr Ketan Thacker of Anagram Stockbroking said. At today's closing price of Rs 437.80, the stock traded at 18.5 times its 2003-04 earnings per share. The largest and complete contract research organisation in the country, carries on its work in the field of clinical and pre-clinical trials, speciality diagnostics and analytical testing of water, food, drugs, chemicals, pesticides, paints and petroleum products as also environmental monitoring & impact assessment. Among the clinical research activities, it provides bioavailability and bioequivalence, pharmacodynamics & pharmacokinetic studies, clinical trials from phase one to four and central lab services. The company's topline and bottomline have grown at 30 per cent 37 per cent CAGR for the last 9 years. The management has indicated a topline growth expectation of about 80 per cent during the current fiscal.
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