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DR REDDY'S Laboratories has been on the rise steadily as investors are again showing interest in the stock.

Even on Friday, some buying in the counter was seen. It closed at Rs 944.95, up 2.38 per cent, with volumes of 1.94 lakh shares on the BSE; on the NSE, it closed at Rs 939.60, up 1.98 per cent, with volumes of 4.35 lakh shares.

The stock has increased 10 per cent in the last one week and 23 per cent in one month.

Dealers said the stock is back in the reckoning on the expectation that the bad phase is over for the company.

In the last several quarters, the company has not been able to show good profits.

The talk is that the benefits of research and development activities undertaken by the company would bear fruit from next year.

The funding from ICICI Ventures for R&D activities is also seen as positive.

`Buy' report bodes well

INFOTECH Enterprises gained sharply on Friday.

The stock rose 10.9 per cent at Rs 437.25 on the BSE with volumes of 4.51 lakh shares and on the NSE, it closed at Rs 438.50, up 11.62 per cent, with volumes of 14.26 lakh shares.

Dealers said the spurt in the price came after a leading foreign broking firm came out with a `buy' report on the stock.

The firm believes that the company to grow by around 35 per cent till 2008.

This growth would come primarily from its geographical information system data management services.

In this segment, the company had acquired Tele Atlas subsidiary in India early this year.

It has also bagged orders from Alstom for engineering services. Also, there are more orders, which the company had bagged, and this would keep the growth for the company in the next few years.

FMCGs back in favour

WITH stock prices and indices close to their all-time high levels, market players have started moving to FMCG stocks.

Buying in this sector was seen from the rise of 0.34 per cent by BSE FMCG index on a day when most of the other indices fell.

Among the stocks bought on Friday in this segment were HLL and Colgate. The main reason for the interest in this sector is steady growth expected in the current and next financial years.

Moreover, the market players in the entire bull rally have ignored this sector. Several institutional investors who were underweight on the sector have now started increasing their exposure to the sector.

Virendra Verma

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