Financial Daily from THE HINDU group of publications
Sunday, Sep 07, 2003
Financial Daily from THE HINDU group of publications Sunday, Sep 07, 2003 |
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Investment World
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Stock Markets Markets - Commentary Number hopes jack up Sesa Goa 25% G. Madhan
Elder Pharma (Rs 128): The stock surged 32 per cent - the highest gainer amongst a swathe of mid-cap and small-cap pharma stocks that posted gains during the week. Divi's Labs (Rs 891): The stock rose 27 per cent. WTO discussion permitting the supply of generic drugs to those countries that cannot afford to cough up the costs attached to patented molecules could be a factor that provided the stock with fizz. Sesa Goa (Rs 263): The stock of this iron ore manufacturer gained 25 per cent on expectations of good quarterly earning numbers. Goodlass Nerolac (Rs 335): The stock appreciated by 22 per cent on expectations of higher earnings growth with the robust trends in the auto segment. The rise is notable, as other paint stocks have traded in a narrow range. Bharat Forge (Rs 512): The stock rose 17 per cent as the market sentiment associated with auto ancillary manufacturers turned bullish once again this week. Madras Fertilisers (Rs 31): A 16 per cent rise has to be seen in the light of due diligence process, completed by the potential bidders, as part of the privatisation of the company. Elgi Equipments (Rs 57): The stock rose 14 per cent on market talk that a US-based compressor maker has started buying the shares from the open market. i-flex solutions (Rs 698): Trading on an ex-bonus basis from Friday, the price has settled at a considerably higher level as compared with the price of Rs 1,100 when the 1:1 bonus was announced. Esab India (Rs 51): The stock of welding equipment manufacturer appreciated 14 per cent on expectations of a turnaround linked to the improved industrial growth rates in this fiscal. United Phosphorus (Rs 402): It has entered into an agreement with BASF to acquire Acifluorfen compound (a herbicide active ingredient) that could be exported to the US immediately and throughout the world from 2004. The stock was up 5 per cent.
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