indian stock market

Valecha Engineering recovers from 52-week trough as promoter hikes stake Valecha Engineering surged 4.81% to Rs 23.95 at 13:44 IST on BSE, having recovered from a 52-week low of Rs 21.90, on increase in promoters' stake in the firm. At the day's low of Rs 21.95, the stock had declined 4.16% before the announcement of the hike in stake by promoters during trading hours. Meanwhile, the BSE Sensex was up 264.39 points, or 3.24%, to 8,424.79. On BSE, 8,801 shares were traded in the counter. The stock had an average daily volume of 14,421 shares in the past one quarter. The stock hit a high of Rs 24 so far during the day. The stock hit a low of Rs 21.90 so far during the day, which is 52-week low for the counter. The stock hit a 52-week high of Rs 132.67 on 22 April 2008. The small-cap stock had underperformed the market over the past one month till 9 March 2009, declining 18.97% as compared to the Sensex's 14.85% fall. It had also underperformed the market in the past

BHEL's Hyderabad unit. Lupin: Healthy growth Investors with a long-term perspective can consider accumulating the Lupin stock, now trading at Rs 590. Steady growth in revenues over the years combined with strong presence in key target markets such as the US, the EU and Japan, besides a healthy pipeline in drug filings, underscore our recommendation. At the current market price, the stock is valued at about 11 times its likely FY-09 per share earnings, at a discount to its peers. Consistent historic growth rates also lend confidence. In the last three years, Lupin has (on a consolidated basis) managed to grow its revenues and earnings at a compounded growth rate of over 29 per cent and 65 per cent respectively. Driven by the renewed focus on generics in markets such as the US and Japan (where it marked its presence through the acquisition of Kyowa), the company is likely to deliver steady growth in future too. That among the Indian generic companies operat