Financial Daily from THE HINDU group of publications
Tuesday, Nov 01, 2005
Financial Daily from THE HINDU group of publications Tuesday, Nov 01, 2005 |
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Markets
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Stock Markets Columns - Ear to the ground SAIL glitters on IISCO prospects
SAIL shined on Monday on the immediate prospect of its access to IISCO mines and collieries. On November 8, SAIL shareholders are expected to approve the proposal for merger of IISCO with the company. The prime mining assets of the IISCO are understood to be a boon for SAIL's profitability and enhancement in savings. The stock closed at Rs 51.30, with a gain of 7.32 per cent, and traded quantity of 43 lakh shares on the BSE.
Q2 nos add life to RPG Life Sciences RPG Life Sciences, which reported fourfold increase in the net profit in the quarter to September 30, 2005, moved up by 4 per cent to finish at Rs 124.10. According to analysts, following a good result, its low P/E (of around 5) is attracting fresh buying. The traded volume in the stock on Monday nearly doubled to 42,154 from its two-week average.
Ranbaxy betting on less legal expenditure Ranbaxy Laboratories on Monday made attempts to climb on expectation that it may derive some advantage on its on-going legal battles in the US for Pravastatin 80 mg and Simvastatin 80 mg tablets. Ranbaxy clarified after trading hours that Para IV certification may entitle it for exclusivity for Pravastatin 80 mg when the product is launched. It further said that it would also now make its case regarding exclusivity for Simvastatin 80 mg, which is expected to come up for hearing in January 2006. According to sources, the market expectation is that in the coming two quarters of the fiscal, company's legal expenditure abroad may come down because most of the cases have moved beyond the initial stage, which are most expensive. The stock closed flat at Rs 350.85, after touching the day's high of Rs 360. The traded volume was at 5.53 lakh shares on reported accumulative moves on the BSE.
Jayanta Mallick
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