Wockhardt is likely to be in focus going forward. The stock rose last week amid a slew of positive news which saw it close 3.4 per cent higher than its previous weekly close.
There were reports that Wockhardt is expecting a huge lift in its bio-pharmaceutical business with exports accounting for a big chunk of its sales. The company has come up with a dedicated facility for bio-pharma in Aurangabad last month.
It has invested Rs 200 crore for the three lakh square feet facility. It is known to be looking at an export turnover of Rs 100 crore in 2005 for recombinant drugs and expects more than 75 per cent of its output to be exported world-wide over the next few years.
There were also reports that Wockhardt UK, the British arm of Wockhardt, sold its Luton plant near London to UK-based Bristol Laboratories. Dealers say the scrip could see some action going forward, given the positive news.
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Bhel saw some momentum come in towards the end of last week. As a result, the scrip jumped 6.63 per cent over its previous weekly close. Dealers say the huge response to PSU power giant NTPC's IPO had a ripple effect on the power PSU. Bhel's scrip has been rising steadily at the bourses on the back of sustained buying. The scrip has jumped a whopping 56 per cent from a low of Rs 398.30 on May 17, 2004, to the current Rs 624 levels. The other positive trigger has been the company's recent bagging of a Rs 115-crore order from Oman, which immediately saw the counter do volumes of around 2.68 lakh shares on Tuesday. Dealers also attribute the buying interest to the strong order-book position of the company.
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