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MATRIX Laboratories, whose price movements have been quite volatile, is expected to make strong gains by the end of the current quarter.

Brokers say that medium to long-term expectations on the scrip are high as the company is hopeful of announcing its second patent bid shortly. A large institutional broking house has sent out a buy report on the company with price expectations close to 20 per cent from current levels.

The scrip closed marginally lower on Thursday at Rs 196.65. Volumes, however, have shot up with the BSE recording a net turnover of Rs 10.53 crore.

Brokers anticipate the scrip to move in a range bound manner in the short-term. At the NSE, over eight lakh shares worth over Rs 15.95 crore were traded.

Budget expectations

SOME foreign institutional investors (FIIs) are advising their clients that the Union Budget would provide the market with an opportunity for corrections. Added to the concern that the allies in the Government may not allow for large tax concessions, is the fact that global markets are also turning bearish.

The Budget expectation report, circulated to key clients by an FII broking house, says that markets are not likely to be impressed by the Budget, as its expectations are highly unrealistic. The report also anticipates decrease in FII flows this year. It further states that corporate earnings are likely to fall over the next two years.

The report anticipates car manufacturers, oil companies such as BPCL and HPCL, and State Bank of India and private banks to be gainers from the announcements in the Budget while housing finance, commodity and software companies as `losers'.

Impressive run on stake buy

CONTAINER Corporation stocks have had an impressive run over the last several trading sessions.

The scrip has advanced from its opening level this week of Rs 825 to Thursday's close of Rs 885.10.

Media reports indicate that the company has acquired 15 per cent stake in India Gateway Terminal Private Ltd. This company is held by Dubai Ports International and would be involved in setting up and operating an international container transhipment terminal at Kochi. The stock has run up in the last fortnight in anticipation of the announcement.

Veena Venugopal

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