Impact
Cipla: Safe long-term bet
CIPLA'S share price presently hovers around Rs. 1,200, a marked fall of about 40 per cent over the last three months. Cipla is one of the soundest pharmaceutical concerns in India with a proven research and development track record. At the current price,
the company trades at about 52 times its 1999-2000 annualised earnings which is lower than what its peers command. Investors may consider taking a long-term exposure to the scrip for the following reasons.
Stocks
Continue to book profits
IN tune with the previous week's recommendation, the share price of Hindustan Lever (Current Market Price: Rs. 2,548.10) ruled weak after it moved close to the earlier mentioned target price. The price appears to have sought support at Rs. 2,510-levels.
Cipla: Buy on declines
THE volatile trend continued to pervade the stock market in the previous settlement as well. The Sensex ended the week with a net loss of about 50 points. As mentioned in the previous week, the Sensex is likely to rule weak in the following week also.
Market still under pressure
THE stock market has moved in a sideways pattern during the last two weeks without giving any clear direction. The volatility of individual stocks has, however, remained high. With the flow of quarterly results, investors and traders tend to move from on
e stock to another. While this causes volatility at the individual stock level, the loss in one is compensated by the gain in another.
IEC Softwares: Consider new exposure on decline
THE stock price of IEC Softwares has been on a relentless upsurge fuelled by positive news on the corporate front. Riding on the back of robust trading volumes, the stock appreciated by 33.35 per cent during the week to settle at Rs. 186.10.
Sectors log mixed performance
IT was a volatile week when both the BL - 250 Composite Index and the Sensex swung wildly. The movement during the week was broadbased as the gains and losses in the Sensex were met with highly muted responses, quite frequently in opposite directions. Ov
erall while the BL - 250 Composite Index posted a net gain of 42.42 points to close at 1679.24, the Sensex lost 48.22 points to end the week at 5423.05.
Badla rate increases 6.5 pc
THE average badla rate for the market was around 22 per cent per annum, up by 6.5 percentage points over the previous week. The aggregate carry-forward/badla value increased by Rs. 494 crores to Rs. 3,567 crores.
