Stocks In Action For August 28, 2012

As per media reports, software major Wipro will continue to expand at its existing facility at Salt Lake in Kolkata. This was announced by the company’s chairman Azim Premji. The company also plans to set up a second facility at Rajarhat for which the state government has allotted 50 acre of land. The stock may see some positive movement today. 

Pharmaceutical firm Lupin aims to launch a slew of drugs in the U.S. market over the next four years from its pipeline of 110 products awaiting approval from the country’s health regulator. The company had filed 25 abbreviated new drug applications (ANDAs) with the USFDA last fiscal, thereby taking the total number of filings to 176. The U.S. market currently contributes over 35 per cent of Lupin’s global revenues. For the fiscal ended March 31, 2012, the company had posted net sales of Rs 6,959.70 crore. It entered the U.S. market just seven years ago and has been focusing on niche therapy areas for further growth. Lupin’s current ANDA filings for OCs stand at 30. It has already launched three products last fiscal. On the back of this news the scrip will see some positive momentum today. 

According to Business Standard, Videocon is planning for an investment of Rs 800-1,000 crore in Punjab to strengthen its telecom business. The investment activities will include capacity augmentation, deployment of additional 1,000 BTS sites, business portfolio diversification, and research and development. Besides telecom, the group is also considering investing in other sectors such as retail, electronics and home appliances, the roadmap for which would be laid in due course of time. Videocon’s telecom business in Punjab is targeted to grow to Rs 800 crore. Its GSM services brand ‘Videocon Mobile Services’ launched operations in Punjab two years ago and has become the fastest growing telecom service in the state. The announcement of the expansion plan may provide some positive momentum to the scrip today. 

French firm Alstom is reported to have announced bagging a contract of Rs 2,800 crore from the state-run Power Grid Corporation for building a 1,365 km transmission line from Chhattisgarh to Haryana. Alstom has been awarded a turnkey contract worth approximately Euro 400 million (Rs 2,800 crore) to connect Champa (Chhattisgarh) to Kurukshetra (Haryana) using ultra-high voltage direct current (DC) technology. The scope of work includes overall project management, studies, design, engineering, training, manufacture, civil works at site, erection, site testing and commissioning. This is positive news and may lead to a decent upside movement in the scrip.