Category Archives: BSE

Biocon Q1 Net Slumps 9% To Rs 70 Crore

For the three month period ended June 2011, Biocon’s consolidated net profit declined around 9% to Rs 70.05 crore as compared to the same period of last year.

The company’s net sales remained up by more than 10% to Rs 441.68 crore.

The earnings disappointed the street leading to more than 4% slump in the biotechnology firm’s shares during the early trade.

At 10:30 hrs, Biocon scrip remained down by 2.8% to rule at Rs 360.15 on NSE.

The company stated that the outcomes for the year-ago quarter comprised Rs 11.52 crore in profit from performances of AxiCorp gmbh that has since been sold.

During the month of April, Biocon SA had decided to sell its 70% equity stake in the German drug distribution arm.

Exclusive of the discontinued functioning, Biocon’s net profit surged 7.4% during the quarter under review.

Consolidated operating profit margin stayed flat at 27.5% year-on-year.

Biocon stated that there was a “healthy” augmentation in profit from its core manufacturing and services businesses, but there was lower licensing income recognition during Apr-June period.

Murali Krishnan, president, group finance stated, “Licensing income from our partnered programmes will see a high degree of variability given the inherent nature of licensing recognition that is linked to development and regulatory timelines.”

The company added that the licensing revenue is likely to strengthen during the coming quarters.

During April-June period, while income from Biocon’s biopharma biz surged 8% y-o-y, domestic branded formulations biz augmented 28%.

Alstom Projects Short Term Buy Call

Technical analyst Shrikant Chouhan of Kotak Securities has maintained ‘buy’ rating Alstom Projects Limited stock with short-term targets of Rs 600 and 610.

The analyst added that the interested investors can sell the stock with a stop loss of Rs 560.

Today, the stock of the company opened at Rs 581.70 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 874.85 and a low of Rs 510 on BSE.

Current EPS & P/E ratio stood at 25.19 and 22.98 respectively.

Alstom Projects India Ltd has pocketed three major deals valued at more than Rs 270 crore to set up hydroelectric projects in India.

The primary agreement has been inked with Shiga Energy Pvt Ltd for the 97 MW Tashiding hydroelectric project in West Sikkim region on the Rathang Chu river.

The second agreement has been inked with NSL Tidong Power Generation Pvt Ltd.

The third order has been inked with Haridwar Infrastructure Pvt Ltd.

All instruments will be fabricated at Alstom’s Vadodara plant in the state of Gujarat, one of the company’s biggest hydro equipment manufacturing centers internationally.

Alstom projects that the country has an economically exploitable and viable hydro prospective of around 84,000 MW.