Business Daily from THE HINDU group of publications
Thursday, Jan 03, 2008
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Business Daily from THE HINDU group of publications Thursday, Jan 03, 2008 ePaper | Mobile/PDA Version |
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Stocks Markets - Foreign Institutional Investors Columns - Ear to the ground Twin pharmaceutical counters of the Chandigarh-based Ind Swift Group — Ind Swift Ltd (ISL) and Ind Swift Laboratories (ISLL) — are subjects of market talk of late. As a result, the traded quantities in the counters have also gone up recently. The grapevine suggestion that the companies are poised to attract strategic investments, however, could not be confirmed. Attempts by Business Line at reaching the management were unsuccessful. ISL, which has substantial holdings in ISLL, saw Goldman Sachs increasing its stake over 5 per cent in December. Industry watchers said that the promoters were reported to have been looking for strategic partnership for quite a while. ISL is primarily a pharmaceutical formulations company. It also has a health publication business. ISLL is mainly a bulk drugs outfit. According to market sources, ISL’s 100 per cent EOU and ISLL’s API facility, both in Punjab, have fetched interests from certain quarters for their British and US regulatory approvals. On the BSE, ISLL, larger of the two in terms of net sales, moved up over 3 per cent to Rs 95 on Wednesday. In the last one week it has gained by more than 22 per cent. Its one-month gain is 68 per cent. ISL lagged behind in appreciation, but its monthly gain is 56 per cent. On Wednesday, it closed one per cent down at Rs 48. According analysts, in terms of industry peers’ price-to-earning ratios, both the stocks appear under valued. Jayanta Mallick More Stories on : Stocks | Foreign Institutional Investors | Pharmaceuticals | Ear to the ground
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