Financial Daily from THE HINDU group of publications
Friday, Mar 21, 2003
Financial Daily from THE HINDU group of publications Friday, Mar 21, 2003 |
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Markets
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Stock Markets Divi's Lab edges up Our Bureau
KOLKATA, March 20 DIVI'S Laboratories, a new entrant in the market arena, today saw a renewal of operators' interest on major bourses. According to brokers and dealers, the stock has fared better than other pharma stocks in the past five sessions since its listing. Today, the traded quantity in the Divi's stock shot up over four fold on both the Bombay Stock Exchange and the National Stock Exchange. Price-wise, it scaled a new peak too. On the BSE, after touching a day's high of Rs 191, the stock closed at Rs 183.25 (Rs 175.30) with a traded volume of 2.01 lakh shares (45,572 shares). On the NSE, volumes in the counter stood at 4.33 lakh shares (1.07 lakh shares0. According to Mr Kashyap Mehta of Anagram Stockbroking, the stock is fairly priced on comparative SWOT analysis. "At the current market price, it is trading at almost 5 times its 2001-02 earning per share of Rs 38, while other stocks in the pharma sector such as Ipca Labs, Cadilla Healthcare and Lupin Ltd are trading at 3.5 times, 8 times and 5 times their respective earning per share," Mr Mehta pointed out.
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