Tuesday, August 16, 2011
Brooks Laboratories, promoted by Atul Ranchal Rajesh Mahajan (with 35.33% stake) is a contract-manufacturing player supplying injection tablets and dry syrups to leading domestic pharma companies. It manufactures a wide range of products in the formulation segment encompassing beta lactam, cephalosporin & general injections. In the domestic markets its customer base (currently 158) includes companies like Zydus Cadila, Aristo Pharmaceuticals, FDC, Nectar Life sciences, Hetero Healthcare, Medley Pharmaceuticals, Wockhardt, Parental Drugs and Alembic. Further, it is now expanding the business into the International markets of Africa, Middle East and Latin America. It currently own and operate a manufacturing facility (CGMP certified) at Baddi, Himachal Pradesh (commissioned commercial production in 2006), with 1620 lakh (injections – 300, tablets –1200 and dry syrup – 120) combined capacity. The present manufacturing facility of the company is WHO-GMP compliant, which allows selling the goods in India, Africa, and South East Asian Countries & CIS Countries only.
The key benchmark indices fell for the third straight day to hit more than 14 month closing lows as weak European stocks and lower US index futures weighed on the sentiment. The caution prevailed ahead of the key eurozone crisis meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel in Paris later in the global day. Latest domestic data showing inflation remaining at elevated levels raised concerns that central bank may further hike interest rates to contain high inflation. The BSE Sensex was down 108.69 points or 0.65%, off close to 305 points from the day's high and up close to 60 points from the day's low. BSE Sensex settled well below the psychological 17,000 mark after briefly moving past that mark at the onset of the day's trade. BSE Mid-Cap and Small-Cap indices underperformed the Sensex.
ITC Ltd is planning to enter the chewing gum market and take on multinational players like market leader Perfetti Van Melle and Wrigley’s. (BS)
Reliance Communications has increased call charges by 20% for both GSM and CDMA services in most of its operating circles. (FE)
GMR Infrastructure is looking at emerging markets in South East Asia, South America and the African continent for expanding its airport business. (ET)
The secret of happiness is freedom. The secret of freedom is courage." - Thucydides
The market appears to have got some freedom after weeks of gut-wrenching price declines. Merger Monday set the tone on Wall Street. Google’s search for a mega acquisition has come in the form of Motorola Mobility which it is gobbling for US$12.5bn. Better-than-expected news on Japanese economic growth has fuelled Asian markets.
The global picture looks good today and may result in positive opening for the Indian markets. The inflation numbers for July will be eyed.
Headlines for the day:
CIL to hire about 1500 people by 2012-end
Power Grid plans African safari with large deals
Educomp ties up with Kanchi mutt to set up 100 schools
The market may snap two day fall on firm Asian stocks. Trading of S&P CNX Nifty on the Singapore stock exchange indicates a gain of 24 points at the opening bell. The stock market was shut on Monday, 15 August 2011, on account of Independence Day.
Fears that higher interest rates will crimp corporate profit growth pulled the market lower for the second day in a row on Friday, 12 August 2011, with the barometer index BSE Sensex settling at 14-month closing low below the psychological 17,000 level. Foreign institutional investors (FIIs) sold shares worth a net Rs 471.09 crore on Friday, 12 August 2011, as per provisional data from the stock exchanges. Domestic institutional investors (DIIs) bought shares worth Rs 99.02 crore on that day.