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BRITANNIA Industries, a leading player in biscuit and milk products, witnessed increased volumes on the BSE along with rise in stock price.

The stock rose 4.17 per cent at Rs 1,203.65 on the BSE with volumes of 51,199 shares - four times more than the average of last two weeks. On the NSE, the stock rose 0.51 per cent at Rs 1,190 with volumes of 1,293 shares.

Dealers said the buying in the shares is from select market players ahead of the results. The company's board meets on October 28 for September quarter results. The talk is that the company is likely to show robust growth in topline and bottomline for the quarter.

Moreover, the current quarter also is likely to show good growth due to the festival season.

"Once bitten..."

RANBAXY results, which were much below the market expectations, have impacted stocks from the pharma sector. This is seen from the fall in BSE Healthcare index, which includes pharma companies, by 3.27 per cent on Monday, the highest fall among all the sectoral indices. In the last one week, this index is down 8.51 per cent.

Dealers said the results from Ranbaxy have turned traders cautious as they feel that other pharma companies' performance may also not be very good.

The talk is that several companies, which are exporters of drugs, could be the worst affected as prices of several of the drugs in the international market have fallen sharply in the last few quarters. Among the stocks to fall on Monday include Ranbaxy, Biocon, Dr Reddy's Laboratories, Lupin, Aurbindo Pharma, Sun Pharma and Divi's Laboratories.

Small ones shine

AFTER more than three weeks, small-cap stocks had a sigh of relief on a day when most large-cap stocks took a severe beating. This was seen from rise in the BSE Smallcap index, which rose 0.5 per cent when other indices fell.

Dealers said the recovery in small-cap stocks was due to sharp fall in the price of most of the stocks in the last one month. Several stocks had fallen by more than 50 per cent in just one month's time including several good companies' stocks.Value buying in several stocks in this category was seen.

Virendra Verma

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