Lupin, a leading Mumbai-based drug maker has clocked a phenomenal growth of 64% in its consolidated net profit for the fourth quarter ended on March 31, 2009.
The company’s net profit during the fourth quarter stood at Rs 157 crore, as against Rs 95 crore during the corresponding period of the last fiscal.
During the quarter, the conglomerate witnessed an increase of 39% in its sales to Rs 1,043 crore from Rs 750 crore in the same period of previous fiscal.
The 20% upper limit was hit by Motilal Oswal at Rs 117, and the stock finally ended with a significant gain of over 18% to Rs 115. 169,741 shares changed hands on the Bombay Stock Exchange.
Despite weak Q4 numbers, a surge has been seen in Motilal Oswal Financial Services.
The Stock, which rebounded and touched a high of Rs 105, up 10.5% from the day's low, had opened down 2% at Rs 96 and slipped to low of Rs 95.
Drugmaker Jubilant Organosys Ltd has informed that its Bangalore based subsidiary Jubilant Biosys has inked a research collaboration agreement with Astrazeneca for neuroscience related drugs.
Under the deal, AstraZeneca will own the development and commercialization rights for drugs developed under the collaboration with Jubilant Biosys Ltd and will fund the research for the initial five-year period.
After a decent run on Monday, Indian Stock markets ended Tuesday flat after a volatile session. US Markets registered decent gains on Monday trading session. Even though the benchmark indices ended flat the undertone of the market remained strong. The market breadth was in favour of the advances and the volumes were quite high as compared to previous day. The benchmark index closed marginally lower at 12,131 down just 4 points after trading in the range of 12,197 – 11,985.
The benchmark indices ended on a very strong note on the first day of the May series on the back of positive Asian cues and huge institution buying. The benchmark indices saw biggest single day gain since Oct 31, 2008. The Sensex closed above the 12,000 mark while the Nifty closed above the 3650 level. Buying was witnessed across the board, IT, capital goods, metals, auto and banking stocks led this sharp rally today.
After volatile session, Indian Stock Markets bounced back smartly. Ending three days of consolidation and range-bound activity, NSE Nifty closed above its 200-day moving average of 3,392. The Sensex hit an intraday high of 11,203 before closing the day at 11,135 up 317 points or 2.93%. The Nifty ended up 2.8% or 93 points higher at 3,424 after hitting a high of 3,439 and low of 3310.
The markets remained choppy and volatile ahead of monetary policy tomorrow and ended on a flat note. The Sensex swung between 11,209 and 10,863 before closing at 10,979 down 44 points.
The NSE Nifty shut at 3,377 down 7 points after swinging between day's high of 3,441 and low of 3,339. However, the broader indices outperformed the benchmark indices.
Unitech, the country's second largest realty developer, has decided to raise up to Rs 1,621.10 crore by issuing of equity shares through private placements.
The company’s board of directors in a meeting held yesterday, had already authorized it to issue up to 42.11 crore equity shares of Rs 2 each at a price of Rs 38.50 per equity share (including a premium of Rs 36.50 per equity share) , aggregating up to Rs 1,621.10 crore.
Post the Qualified Institutional Placements (QIPs), the promoters’ stake would come down to 51 per cent from about 64 per cent.
Hexaware Technologies, an Information Technology and Business Process Outsourcing service provider company, has announced financial results for the fourth quarter and the full-year 2008.
During the result announcement, the Navi Mumbai-based company said that its consolidated net profit for the financial year ended December 31, 2008, grew eight-fold to Rs 58.98 crore over the corresponding period a year ago.
Satyam Computers may see some relief as World Bank has announced to review the 8-year ban on Indian Software company. It seems that Satyam Computers has seen the worst and now we can expect some revival in the stock price. Satyam's new board had recently requested World Bank to review the ban decision and had assured quality services and good corporate governance standards.