What to watch: Court diktat to drive Sun Pharma, Ranbaxy

Updated - May 23, 2014 at 09:49 PM.

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Shares of Sun Pharmaceutical Industries and Ranbaxy Laboratories will hog the limelight next week, as the Andhra Pradesh High Court will pronounce its order on Saturday in a case related to insider trading allegations against Sun. There were allegations of insider trading ahead of the announcement of its acquisition of Ranbaxy. On April 25, the AP High Court had directed status quo on granting approvals to the proposed merger.

FTIL, MCX: Crucial board meeting ahead

Financial Technologies (India) Ltd and MCX will continue to see market attention as the former’s board is meeting on Saturday to consider a stake sale. The board, which met on May 9, had deliberated on the divestment process but sought time due to a flurry of developments including the PwC report, which was made public. The Forward Markets Commission had earlier declared FTIL as not fit to run and exchange and ordered it to reduce its stake in MCX to 2 per cent.

Sliding NPA bodes well for Can Fin Homes

Can Fin Homes, which has a low-risk profile loan book, with salaried borrowers making up most of its loans, has seen gross non-performing assets slide to 0.2 per cent of total advances in FY14, down from 0.4 per cent in the previous year. Its loan book has grown at around 40 per cent during FY11-14. As the new Government takes over and focus reverts to housing, Can Fin homes with a price-earnings ratio of 9.1 (trailing-year numbers) is returning to focus.

Published on May 23, 2014 16:19