18 January 2007
RANBAXY
Krebs Biochem- Rs 99Ranbaxy has picked up 14.8% stake in Krebs Biochem at Rs 85/per share. The company has manufacturing facility for statins which also has got US FDA. The move is likely to improve the plant utilization. The company is expected to see turn around with this fund infusion as it currently carries high level of debt. The pharma API business is currently making profit while its sugar business is showing loss. We recommend investors Buy the stock with medium term perspective. ITC-Rs170ITC announced its plans to open 140 stores under Choupal Fresh in 54 towns. The focus is to establish the chain for distributing Fruits and Vegetables. The format consist of both whole sale and retail format. The Agri business which currently contributes 14% of the revenues is likely to see high share in the revenues in coming years. At current market price, the stock trades at We recommend investors to Buy the stock 23.7x and 21.7x FY07E and FY08E earnings. We recommend investors to Buy the stock with price target of Rs 213 over 12 months.*HOT NEWS*ICSA -Rs.1099.25ICSA is divesting 14% of its stake to Citigroup venture Capital for $30mn. Goldman Sachs is also investing $22mn through FCCBs. As per understanding FCCBs will be converting over 5 years at a premium of 40% as permarket rate prevailing at the time of conversion.
by erectusplus at 13:35:00 |
0 Comments:
Post a Comment
<< Home