| Last week's close (Rs) | 201.95 |
| Prev. week's close (Rs) | 200.48 |
| Week's high (Rs) | 210.00 |
| Week's low (Rs) | 190.00 |
| Last week's ave. daily turnover (Rs cr) | 2.00 |
| Prev. week's ave. daily turnover (Rs cr) | 2.00 |
| Futures close | NT |
| Number of up/down move | 3/2 |
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| Orchid Chemicals is likely to be in focus after the company announced plans to file US applications for launching 15 generic antibiotics with a combined market of $3 billion by the end of March. |
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| The mid-sized drug maker also expects its US drug discovery joint venture, Bexel Pharmaceuticals Inc, to license out a new anti-diabetes compound to a multinational by the end of the fiscal year, after completing the second phase of trials. |
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| The $160-million company has so far largely been an exporter of bulk drugs, with exports accounting for 85 per cent of sales. Of the 14 more ANDAs the company plans to file this year, six are of products that will start going off patent from 2005. |
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| Orchid has already tied up with Par Pharmaceuticals Inc to market the drugs when the approvals come. The company has also entered into an agreement with Canadian firm Apotex Inc for a supply and marketing arrangement in the Canadian market. Apotex would market Orchid's generic antibiotic injectable formulations in the Canadian market. |
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RECAP: ITC
The scrip declined 0.56 per cent last week to close at Rs 877.95. |
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| Stock of the week |
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| HERO HONDA | | Last week's close (Rs) | 479.30 | | Prev. week's close (Rs) | 451.23 | | Week's high (Rs) | 489.00 | | Week's low (Rs) | 430.08 | | Last week's ave. daily turnover (Rs cr) | 44.94 | | Prev. week's ave. daily turnover (Rs cr) | 28.53 | | Futures close June-2004 (Rs) | 467.80 | | Futures close July-2004 (Rs) | 0.00 | | Futures close August-2004 (Rs) | 0.00 | | Number of up/down move | 3/2 |
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| Hero Honda ended the week 6.6 per cent higher than its previous weekly close after witnessing fresh buying at lower levels towards the end of the week. The company recently renewed its license and assistance agreement with Honda Motor Co, Japan. |
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| Analysts say the move is a positive for the Indian two-wheeler major since it almost entirely depends on the Japanese company for technical input. |
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| They say it puts to rest all speculation that the tie-up may suffer because of Honda's plan to enter the motorcycles market in India through its 100 per cent subsidiary, Honda Motors Scooters India (HMSI) later this year. |
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| The company also reported a buoyant performance in its May sales and booked sales of 212,177 motor bikes for May, 2004. The sales figure had gone up by 29.70 per cent. |
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RECAP: SBI
Activity at the banking counter was flat for most of the week, with the scrip closing at Rs 486.75, up 0.39 per cent. |
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| Mid-cap mover |
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| JUBILANT ORGANOSYS | | Last week's close (Rs) | 512.17 | | Prev. week's close (Rs) | 537.52 | | Week's high (Rs) | 534.50 | | Week's low (Rs) | 484.10 | | Last week's ave. daily turnover (Rs cr) | 0.71 | | Prev. week's ave. daily turnover (Rs cr) | 0.53 | | Futures close | NT | | Number of up/down move | 2/3 |
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| Jubilant Organosys was down 4.72 last week and closed at Rs 512.17. The counter had seen buying interest earlier in the week, following news of the company's Belgian acquisition. |
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| The company is acquiring 80 per cent equity stake of the Belgium-based Pharmaceutical Services Inc and PSI Supply NV by paying euros 13.5 million in cash. |
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| Despite the current interest at the counter, the scrip had been under selling pressure because of overall weakness in the market and has fallen from its recent high of Rs 713.60 to the present levels. |
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| The company posted a 155 per cent rise in net profit to Rs 25.6 crore during the fourth quarter ended March 31, 2004, against Rs 10 crore during the corresponding quarter last year. Net profit stood at Rs 80.2 crore, up 67 per cent from Rs 48.1 crore last year. The company also declared a total dividend of 100 per cent against 90 per cent last year. |
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RECAP: IPCA LABS
The scrip declined 6.42 per cent to close at Rs 629. |
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| Small-cap mover |
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| MONNET ISPAT | | Last week's close (Rs) | 75.50 | | Prev. week's close (Rs) | 67.95 | | Week's high (Rs) | 77.70 | | Week's low (Rs) | 64.59 | | Last week's ave. daily turnover (Rs cr) | 0.22 | | Prev. week's ave. daily turnover (Rs cr) | 0.15 | | Futures close | NT | | Number of up/down move | 5/0 |
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| Monnet Ispat rose 11.11 per cent last week to close at Rs 75.50. On Friday, the board of directors of Monnet Ispat allotted 3,527,353 equity shares of Rs 10 each at a premium of Rs 90 per share to Citicorp International Finance Corp. |
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| The preferential issue amounts to 14.90 per cent stake in Monnet Ispat worth Rs 35.27 crore. The proceeds of the preferential issue will partly fund the expansion of Monnet's sponge iron and mild steel manufacturing unit at Raigarh in Chattisgarh. |
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| The board has also decided to issue two million convertible warrants of Rs 120 each to the promoters. The warrants can be converted into equity shares of Rs 10 each at a premium of Rs 110 a share. |
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| The company is in talks to raise around Rs 100 crore from the domestic market, while around Rs 50 crore will be raised through external commercial borrowings. |
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| It has engaged an expansion of 4.5 lakh tonnes per annum for its sponge iron plant, which will hike its capacity to 7.5 lakh tonne per annum. The expansion is expected to be completed by 2006. |
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RECAP: MAX INDIA
The Max India share closed 1.59 per cent adrift at Rs 179 |
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