Previous week's close: Rs 120.00
During the week the scrip lost 14.17 per cent. The fall in the price is attributed because it has curtailed the production of chloroquine, an anti-malarial drug. IPCA has slashed the production by 44 per cent as China has started dumping in the Indian market. In 1996-97, it will be utilising only 200 tonne of the total installed capacity of 360 tpa. The low purity level of the drug dumped by China will not be acceptable in any of the developed countries of the world but India has its own rule. The landed cost of the DPCO-controlled drug works out to Rs 1,200 per kilo (domestic price:Rs 1,368 per kilo). China makes 1,000 tonne but there is hardly any demand for it in China and as a result the product is being dumped. During the first five months of the year, IPCA has registered sixty per cent growth in exports over the corresponding period of last year.
Sesa Goa
Last week's close:Rs 223.00
Previous week's close:Rs 293.25
The scrip lost 23.8 per cent during the week. The reason for decline is the failure of a BSE broker to pay up for the purchases made by him. The broker was declared defaulter when a cheque worth Rs 2.25 crore issued by him for the purchase of Sesa Goa shares bounced. Sesa Goa has merged its 100 per cent subsidiary, Sesa Shipping with it. The company has continued to follow its policy of hiving off divisions into subsidiaries by hiving off its pig iron division into a subsidiary, Sesa Industries. The subsidiary had a capacity to manufacture 75,000 tpa of pig iron and after the transfer the capacity has gone up to 1,50,000 tpa.
SOL Pharma
Last week's close:Rs 72.5
Previous week's close:Rs 65.75
During the week, the scrip gained 10.27 per cent. The rise can be attributed to sustained
