Ranbaxy settles Glaxo patent row, shares jump
Drug maker Ranbaxy Laboratories Ltd said on Thursday that it has reached an agreement with GlaxoSmithKline to settle U.S. litigation on Valtrex, sending its shares up 10 per cent on the day.
The lawsuit was related to Glaxo's patent on the drug, which covered the generic valacyclovir hydrochloride tablets, used to treat herpes infections, Ranbaxy said in a statement.
Under the agreement, Ranbaxy will enter the U.S. market in late 2009 and have 180 days of exclusivity to sell its generic version of the drug.
The market for the drug is estimated at $1.3 billion, said Ranbaxy, which had received approval from the U.S. Food and Drug Administration in February 2007 for valacyclovir hydrochloride.
Market exclusivity, given to the drug maker that is the first to file (FTF) a challenge to a patent, gives lucrative margins to the generics firm.
"Ranbaxy will continue to pursue a strategy to effectively leverage and monetise its pipeline of FTF opportunities," it said. Ranbaxy's shares were up 8.8 per cent at Rs 371.2 on the BSE in the afternoon trades. They rose as high as Rs 374.60, a gain of 10.1 per cent.
Thursday, July 26, 2007
Suzlon Energy announces Q1 results
Suzlon Energy Ltd has announced the following Unaudited Results for the quarter ended June 30, 2007
The Company has posted a net profit of Rs 894.00 million for the quarter ended June 30, 2007 where as the same was at Rs 1936.00 million for the quarter ended June 30, 2006. Total Income is Rs 8629.00 million for the quarter ended June 30, 2007 where as the same was at Rs 9467.00 million for the quarter ended June 30, 2006.Effective April 01, 2007.
The Company has commenced commissioning and installation of WTGs through a subsidiary Company, which earlier was done in an associate Company. Certain related assets of the promoter Company pertaining to this business have been transferred to the subsidiary. To that extent, the figures for the quarter ended June 30, 2007 are not comparable with prior periods presented.
The Consolidated Results are as follows:
The Group has posted a net profit after minority interest of Rs 188.90 million for the quarter ended June 30, 2007 where as the same was at Rs 952.70 million for the quarter ended June 30, 2006. Total Income is Rs 19872.70 million for the quarter ended June 30, 2007 where as the same was at Rs 10850.40 million for the quarter ended June 30, 2006.
Suzlon Energy Ltd has announced the following Unaudited Results for the quarter ended June 30, 2007
The Company has posted a net profit of Rs 894.00 million for the quarter ended June 30, 2007 where as the same was at Rs 1936.00 million for the quarter ended June 30, 2006. Total Income is Rs 8629.00 million for the quarter ended June 30, 2007 where as the same was at Rs 9467.00 million for the quarter ended June 30, 2006.Effective April 01, 2007.
The Company has commenced commissioning and installation of WTGs through a subsidiary Company, which earlier was done in an associate Company. Certain related assets of the promoter Company pertaining to this business have been transferred to the subsidiary. To that extent, the figures for the quarter ended June 30, 2007 are not comparable with prior periods presented.
The Consolidated Results are as follows:
The Group has posted a net profit after minority interest of Rs 188.90 million for the quarter ended June 30, 2007 where as the same was at Rs 952.70 million for the quarter ended June 30, 2006. Total Income is Rs 19872.70 million for the quarter ended June 30, 2007 where as the same was at Rs 10850.40 million for the quarter ended June 30, 2006.
Wednesday, July 25, 2007
Sterlite Industries announces Q1 results
Sterlite Industries India Ltd has announced the following Un-Audited results for the quarter ended June 30, 2007:
The Company has posted a net profit after tax & exceptional items of Rs 2014.60 million for the quarter ended June 30, 2007 where as the same was at Rs 2234.90 million for the quarter ended June 30, 2006. Total Income (net of excise) is Rs 31658.50 million for the quarter ended June 30, 2007 where as the same was at Rs 24037.40 million for the quarter ended June 30, 2006.
The Consolidated results are as follows:
The Group has posted a net profit after tax attributable to consolidated Group of Rs 11429.10 million for the quarter ended June 30, 2007 where as the same was at Rs 8790.00 million for the quarter ended June 30, 2006. Total Income (Net of Excise) is Rs 64892.30 million for the quarter ended June 30, 2007 where as the same was at Rs 47384.60 million for the quarter ended June 30, 2006.Previous Period / Year figures have been regrouped / recasted wherever necessary.
On account of sale of Power Transmission Line Division with effect from July 01, 2006, figures for current period/s are not strictly comparable to figures for the previous period / year.
Sterlite Industries India Ltd has announced the following Un-Audited results for the quarter ended June 30, 2007:
The Company has posted a net profit after tax & exceptional items of Rs 2014.60 million for the quarter ended June 30, 2007 where as the same was at Rs 2234.90 million for the quarter ended June 30, 2006. Total Income (net of excise) is Rs 31658.50 million for the quarter ended June 30, 2007 where as the same was at Rs 24037.40 million for the quarter ended June 30, 2006.
The Consolidated results are as follows:
The Group has posted a net profit after tax attributable to consolidated Group of Rs 11429.10 million for the quarter ended June 30, 2007 where as the same was at Rs 8790.00 million for the quarter ended June 30, 2006. Total Income (Net of Excise) is Rs 64892.30 million for the quarter ended June 30, 2007 where as the same was at Rs 47384.60 million for the quarter ended June 30, 2006.Previous Period / Year figures have been regrouped / recasted wherever necessary.
On account of sale of Power Transmission Line Division with effect from July 01, 2006, figures for current period/s are not strictly comparable to figures for the previous period / year.
Monday, July 23, 2007
Sensex ends at record high of 15,732 points
The benchmark Sensex ended at a new peak of over 15,732 points on Monday on aggressive buying by funds in bluechip stocks in capital goods and realty sectors. Buying activity gathered momentum in last half-an-hour of trading and shot up by 166.6 5 points to close at 15,732.20 after the finance minister said enough funds are available for infrastructure sector, road construction, power projects and ports.
The Sensex touched an intra-session peak of 15,773.37 points and a low of 15,477.91. Similarly, the wide-based National Stock Exchange's index Nifty settled at 4619.35, a gain of 53.40 points, after touching an intra-session high of 4,628.45 and a low o f 4547.20.
The bourses, which had commenced the day a little, lower in line with weakening global stock markets, picked up in the last 30 minutes of trading, brokers said. They said the market could reach the milestone of 16,000 points in a shortest thousand point s journey. The shortest 1,000-point leap as of now is of just 19 trading sessions that the Sensex took to scale 12,000 level in April last year.
Capital goods index gained the most by rising 526.12 points at 13,596.20, followed by realty index by 196.2 6 points at 8,379.28. PSU index rose by 113.01 points at 7,217.80, oil and gas index by 99.09 points at 8,210.63 and metal index by 93.90 points at 12,305.
The benchmark Sensex ended at a new peak of over 15,732 points on Monday on aggressive buying by funds in bluechip stocks in capital goods and realty sectors. Buying activity gathered momentum in last half-an-hour of trading and shot up by 166.6 5 points to close at 15,732.20 after the finance minister said enough funds are available for infrastructure sector, road construction, power projects and ports.
The Sensex touched an intra-session peak of 15,773.37 points and a low of 15,477.91. Similarly, the wide-based National Stock Exchange's index Nifty settled at 4619.35, a gain of 53.40 points, after touching an intra-session high of 4,628.45 and a low o f 4547.20.
The bourses, which had commenced the day a little, lower in line with weakening global stock markets, picked up in the last 30 minutes of trading, brokers said. They said the market could reach the milestone of 16,000 points in a shortest thousand point s journey. The shortest 1,000-point leap as of now is of just 19 trading sessions that the Sensex took to scale 12,000 level in April last year.
Capital goods index gained the most by rising 526.12 points at 13,596.20, followed by realty index by 196.2 6 points at 8,379.28. PSU index rose by 113.01 points at 7,217.80, oil and gas index by 99.09 points at 8,210.63 and metal index by 93.90 points at 12,305.
Rupee rallies to 9-year high
The rupee rallied to a nine-year high on Monday, boosted by capital inflows into the stock market and on the back of the dollar's weakness against some currencies. At 1:07 p.m., the partially convertible rupee was at 40.25/26 per dollar - a level it last tested in May 1998 and up from its previous close of 40.32/32.
The rupee rallied to a nine-year high on Monday, boosted by capital inflows into the stock market and on the back of the dollar's weakness against some currencies. At 1:07 p.m., the partially convertible rupee was at 40.25/26 per dollar - a level it last tested in May 1998 and up from its previous close of 40.32/32.
Dabur India announces Q1 results
Dabur India Ltd has announced the following Un-Audited results for the quarter ended June 30, 2007:
The Company has posted a net profit of Rs 540.60 million for the quarter ended June 30, 2007 as compared to Rs 458.40 million for the quarter ended June 30, 2006.
Total Income has increased from Rs 3930.50 million for the quarter ended June 30, 2006 to Rs 4510.40 million for the quarter ended June 30, 2007.
The Consolidated results are as follows:
The Group has posted a net profit after minority interest of Rs 622.20 million for the quarter ended June 30, 2007 as compared to Rs 482.20 million for the quarter ended June 30, 2006. Total Income has increased from Rs 4807.90 million for the quarter ended June 30, 2006 to Rs 5785.90 million for the quarter ended June 30, 2007.
Dabur India Ltd has announced the following Un-Audited results for the quarter ended June 30, 2007:
The Company has posted a net profit of Rs 540.60 million for the quarter ended June 30, 2007 as compared to Rs 458.40 million for the quarter ended June 30, 2006.
Total Income has increased from Rs 3930.50 million for the quarter ended June 30, 2006 to Rs 4510.40 million for the quarter ended June 30, 2007.
The Consolidated results are as follows:
The Group has posted a net profit after minority interest of Rs 622.20 million for the quarter ended June 30, 2007 as compared to Rs 482.20 million for the quarter ended June 30, 2006. Total Income has increased from Rs 4807.90 million for the quarter ended June 30, 2006 to Rs 5785.90 million for the quarter ended June 30, 2007.
Siemens announces Q3 results
Siemens Ltd has announced the following unaudited results for the quarter ended June 30, 2007:
The Company has posted a net profit after tax of Rs 817.88 million for the quarter ended June 30, 2007 as compared to Rs 565.17 million for the quarter ended June 30, 2006.
Total Income (net of excise) has increased from Rs 10489.62 million for the quarter ended June 30, 2006 to Rs 18196.65 million for the quarter ended June 30, 2007.
Siemens Ltd has announced the following unaudited results for the quarter ended June 30, 2007:
The Company has posted a net profit after tax of Rs 817.88 million for the quarter ended June 30, 2007 as compared to Rs 565.17 million for the quarter ended June 30, 2006.
Total Income (net of excise) has increased from Rs 10489.62 million for the quarter ended June 30, 2006 to Rs 18196.65 million for the quarter ended June 30, 2007.
Dr Reddys announces Q1 results
Dr Reddys Laboratories Ltd has announced the following unaudited results for the quarter ended June 30, 2007:
The Company has posted a net profit of Rs 1456.90 million for the quarter ended June 30, 2007 as compared to Rs 1318.10 million for the quarter ended June 30, 2006. Total Income (net of excise) has increased from Rs 7721.80 million for the quarter ended June 30, 2006 to Rs 8018.40 million for the quarter ended June 30, 2007.
The Consolidated results are as follows:The Group has posted a net profit attributable to the shareholders of the Parent of Rs 1872.30 million for the quarter ended June 30, 2007 as compared to Rs 1289.20 million for the quarter ended June 30, 2006. Total Income (net of excise) has decreased from Rs 13736.70 million for the quarter ended June 30, 2006 to Rs 12524.90 million for the quarter ended June 30, 2007.The Consolidated results as per US GAAP are as follows:
The Group has posted a net income of Rs 1825.068 million (USD 44.975 million) for the quarter ended June 30, 2007 as compared to Rs 1397.612 million for the quarter ended June 30, 2006. Revenues has decreased from Rs 14049.406 million for the quarter ended June 30, 2006 to Rs 12018.223 million (USD 296.161 million) for the quarter ended June 30, 2007.
Dr Reddys Laboratories Ltd has announced the following unaudited results for the quarter ended June 30, 2007:
The Company has posted a net profit of Rs 1456.90 million for the quarter ended June 30, 2007 as compared to Rs 1318.10 million for the quarter ended June 30, 2006. Total Income (net of excise) has increased from Rs 7721.80 million for the quarter ended June 30, 2006 to Rs 8018.40 million for the quarter ended June 30, 2007.
The Consolidated results are as follows:The Group has posted a net profit attributable to the shareholders of the Parent of Rs 1872.30 million for the quarter ended June 30, 2007 as compared to Rs 1289.20 million for the quarter ended June 30, 2006. Total Income (net of excise) has decreased from Rs 13736.70 million for the quarter ended June 30, 2006 to Rs 12524.90 million for the quarter ended June 30, 2007.The Consolidated results as per US GAAP are as follows:
The Group has posted a net income of Rs 1825.068 million (USD 44.975 million) for the quarter ended June 30, 2007 as compared to Rs 1397.612 million for the quarter ended June 30, 2006. Revenues has decreased from Rs 14049.406 million for the quarter ended June 30, 2006 to Rs 12018.223 million (USD 296.161 million) for the quarter ended June 30, 2007.
Sunday, July 22, 2007
Easun Reyrolle fixes Record Date for stock split
Easun Reyrolle Ltd has informed BSE that August 07, 2007 has been fixed as the Record Date for the purpose of sub-division of Shares, namely, determining the names of the Shareholders entitled for Shares with the face value of Rs 2 each.
The stock closed at 1125 on BSE on Friday [ 52 wk high - 1209 on 3 July 07 ; 52 wk low - 450 on 28 July 06 ]
Last 1 month return up 23%.
Easun Reyrolle Ltd has informed BSE that August 07, 2007 has been fixed as the Record Date for the purpose of sub-division of Shares, namely, determining the names of the Shareholders entitled for Shares with the face value of Rs 2 each.
The stock closed at 1125 on BSE on Friday [ 52 wk high - 1209 on 3 July 07 ; 52 wk low - 450 on 28 July 06 ]
Last 1 month return up 23%.
Buyback: A Lever to shore up valuation
BL Research Bureau Given their high operational cash flows and relatively limited scope for capital investments, large Indian FMCG companies have constantly explored new options to return cash surplus to shareholders over the past few years.
Hindustan Unilever’s (HUL) bonus debenture programme and Marico’s bonus preference share offer, Nestle India’s special dividend and Colgate Palmolive India’s proposal to reduce its share capital are attempts of large FMCG companies to reduce the surplus cash . FMCG companies often enjoy high return on equity ratios (many in excess of 100 per cent) and thus have substantial cash coffers, which are usually deployed in treasury operations.
Given the conservative investment policies followed by most of them, the treasury operations often generate returns that are much lower than core operations.
Buyback scheme is largely a strategy to improve the overall return parameters for investors . Hindustan Unilever’s proposal this week to consider share buyback should be seen in this light.
In HUL’s case, it is quite clear that the buyback is also being used as a tool by the company to signal that its stock, in its view, is under-valued.
Sluggish financial performance over the past two quarters has led to the stock trading below its all-time high, with valuations that hover below long-term averages.
How will the buyback impact investors in the HUL stock?
Well, if it is routed through open market purchases, it may provide support to the stock price against any further downside.
If it is the tender offer route, the pricing of the offer may determine the upside.
However, investors should note that only a certain proportion of the tendered shares may be accepted in that case.
But a successful buyback will reduce HUL’s equity base and thus improveits earnings per share.
It may also peg up the parent’s stake in the Indian company.
The stock closed at 194 at BSE on Friday.
BL Research Bureau Given their high operational cash flows and relatively limited scope for capital investments, large Indian FMCG companies have constantly explored new options to return cash surplus to shareholders over the past few years.
Hindustan Unilever’s (HUL) bonus debenture programme and Marico’s bonus preference share offer, Nestle India’s special dividend and Colgate Palmolive India’s proposal to reduce its share capital are attempts of large FMCG companies to reduce the surplus cash . FMCG companies often enjoy high return on equity ratios (many in excess of 100 per cent) and thus have substantial cash coffers, which are usually deployed in treasury operations.
Given the conservative investment policies followed by most of them, the treasury operations often generate returns that are much lower than core operations.
Buyback scheme is largely a strategy to improve the overall return parameters for investors . Hindustan Unilever’s proposal this week to consider share buyback should be seen in this light.
In HUL’s case, it is quite clear that the buyback is also being used as a tool by the company to signal that its stock, in its view, is under-valued.
Sluggish financial performance over the past two quarters has led to the stock trading below its all-time high, with valuations that hover below long-term averages.
How will the buyback impact investors in the HUL stock?
Well, if it is routed through open market purchases, it may provide support to the stock price against any further downside.
If it is the tender offer route, the pricing of the offer may determine the upside.
However, investors should note that only a certain proportion of the tendered shares may be accepted in that case.
But a successful buyback will reduce HUL’s equity base and thus improveits earnings per share.
It may also peg up the parent’s stake in the Indian company.
The stock closed at 194 at BSE on Friday.
Indian Bank announces Q1 results
Indian Bank has announced the following unaudited results for the quarter ended June 30, 2007
The Bank has posted a net profit of Rs 2120.30 million for the quarter ended June 30, 2007 as compared to Rs 1648.10 million for the quarter ended June 30, 2006.
Total Income has increased from Rs 10484.20 million for the quarter ended June 30, 2006 to Rs 13767.40 million for the quarter ended June 30, 2007.
Indian Bank has announced the following unaudited results for the quarter ended June 30, 2007
The Bank has posted a net profit of Rs 2120.30 million for the quarter ended June 30, 2007 as compared to Rs 1648.10 million for the quarter ended June 30, 2006.
Total Income has increased from Rs 10484.20 million for the quarter ended June 30, 2006 to Rs 13767.40 million for the quarter ended June 30, 2007.
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