Skip to main content

Zenotech Lab in demand as Daiichi Sankyo-Ranbaxy deal triggers open offer

Zenotech Laboratories was locked at upper limit of 20% at Rs 112.95 at 12:43 IST on BSE after Japan's Daiichi Sankyo said it would make an open offer for 20% in the company, following its decision to buy controlling stake in Ranbaxy Laboratories.

Meanwhile, the BSE Sensex was up 245.97 points, or 1.65%, at 15135.99, on positive cues from Asian markets and on further fall in crude oil prices.

On BSE, 2.45 lakh shares were traded in the counter. The scrip had an average daily volume of 23,298 shares in the past one quarter.

The stock hit a low of Rs 96 so far during the day. The stock had a 52-week high of Rs 182.90 on 4 October 2007 and a 52-week low of Rs 72.40 on 24 March 2008.

The scrip had underperformed the market over the past one month till 10 June 2008, falling 9.73% compared to the Sensex's 11.69% decline. It had, however, underperformed the market in the past one quarter, falling 6.08% compared to Sensex's 7.68% fall.

The small-cap drug maker has an equity capital of Rs 34.35 crore. Face value per share is Rs 10.

Ranbaxy has a 46.95% stake in Zenotech.

Ranbaxy founders Malvinder Singh and Shivinder Singh today inked a deal to sell their combined 34.8% stake to Japanese drug maker Daiichi Sankyo at around Rs 730 a share, a 30% premium over Tuesday (10 June 2008)'s closing price. Daiichi also seeks to acquire majority of the voting capital of Ranbaxy. The total transaction value is expected at about Rs 14740 crore to Rs 19800 crore depending on the response to a mandatory 20% open offer which Daiichi will be making to Ranbaxy shareholders.

Following this news, other drug firms in which Ranbaxy Laboratories has stakes, also rose 5% to 12%. Orchid Chemicals & Pharmaceuticals (10.17% at Rs 253), Jupiter Bioscience (up 11.97% at Rs 141.20), and Krebs Biochemicals (up 5% at Rs 43.95), surged.

Zenotech Laboratories reported a net loss of Rs 21.70 crore in Q3 December 2007 as against net loss of Rs 0.92 crore in Q3 December 2006. Sales fell 30.3% to Rs 1.54 crore in Q3 December 2007 over Q3 December 2006.

Popular posts from this blog

Bio-fuel has top investors powered up

23RD ,JUNE India's fortune-hunters believe their new-found love for biofuel will pay off. India's well-known investors who are known for their Midas touch have spotted an opportunity in bio-fuel, betting big on ethanol, bio-mass and even bio-fuel equipment makers in India and other parts of the globe. Billionaires Rakesh Jhunjhunwala, C Sivasankaran, Vinod Khosla, founder of Sun Microsystems, and Nemish Shah, the media-shy joint partner of Enam Financial Services, are investing in bio-fuel makers quietly, expecting that bio-fuel will have a big play in the coming years as the world looks for a viable alternative to the fast depleting oil reserves. Jhunjhunwala, who is known for his ability to spot a multi-bagger at a very early stage, recently invested in Hyderabad-based bio-fuel firm Nandan Biometrics.He is also a 10 per cent stakeholder in Praj Industries, which is a bio-fuel technology provider…

up to 8,500% return in 5 years! Investors made a killing in these 30 smallcap stocks

U By Rahul Oberoi, | Updated: Dec 01, 2017, 04.06 PM IST Post a Comment
Efficiency pays in the long run. Among the top smallcap plays on Dalal Street, 30 companies with stable return on equity (RoE) and return on capital employed (RoCE) have surged up to 8,500 per cent over the past five years.

All these companies had a debt-to-equity ratio of less than 1 and have been maintaining RoE and RoCE of over 20 per cent since 2012-13.

Avanti Feeds emerged the chart topper, with an 8,527 per cent gain to Rs 2,596.60 as of November 28 from Rs 30.10 ..

ovember 28 from Rs 30.10 on November 27, 2012. The company’s return on equity for FY17, FY16, FY15, FY14 and FY13 stood at 42.65 per cent, 46.21 per cent, 52.41 per cent, 45.79 per cent and 27.60 per cent, respectively. Avanti also managed to achieve a return on capital employed of over 50 per cent in last four years. Its RoCE stood at 28.59 per cent inRoE measures net income earned for every rupee of shareholder funds, while…

5 dark-horse picks

Kwadrat/ Kwadrat/
If you are a conservative investor, using the mutual fund route is the best way to invest in stocks. But if you are game for some excitement, you might want to dabble directly in stocks, especially small-cap stocks. Stocks that are smaller in size, in terms of market capitalisation, carry higher risk. The reasons are — one, lower traded volume increases price volatility, two, information is usually scarce on these companies, three, business risk is higher since many of these companies are dependent on a single product and four, governance risk is also higher in these stocks. That said, small-cap stocks have the capacity to deliver far greater returns when compared to large-cap stocks. Sample this: there were 16 stocks with market cap more than ₹50,000 crore in January 2009. These stocks delivered an average return of 138 per cent in the last eight years but 4 out of every 10 stocks in this group delivered negative returns. On the ot…