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Restructuring changes Kopran's valuations
Kopran's restructuring exercise seems to have paid off. The scrip has been on the rise for the past five trading sessions. The scrip has zoomed from Rs 65 to Rs 91. However, on Tuesday the scrip witnessed a minor technical correction. Kopran's, popular sore throat reliever brand, Smyle, is doing well. According to market sources, the company is all set launch a range of ayurvedic skin-care products under the same brand name. The new products are based on the company's in-house research and development effort.
The company earns around Rs 20 lakh per month from the sale of `Smyle' alone. The Smyle range, which comprises a sore throat reliever, a mouth ulcer gel and a nasal inhaler, caters to the ear-nose-throat (ENT) care segment. The company has demerged its semi-synthetic penicillin division as Kopran Drugs. The primary focus of Kopran Ltd, henceforth, will be on formulations. As part of its business strategy, Kopran has also created four strategicbusiness units exclusively for formulations. The present pharmaceutical division's focus will be on cardiology, gastroenterology and antibiotics, the high margin products. The company also manufactures Sildenafil, which is the raw material for Viagra. Kopran posted a turnover of Rs 321 crore and gross profits of Rs 31.55 crore in 1997-98. Marketmen expect Kopran Limited to report a turnover of around Rs 500 crore in the current fiscal.
Ricoh spurts on buyback plans
Ricoh Company of Japan's decision to buyback shares of its Indian arm, Ricoh Ltd, pushed up the latter's stock from Rs 9 to Rs 11.05 on Tuesday. Although marketmen expect the buy-back offer to take some time, the undercurrent is likely to remain bullish at the counter. Ricoh Company Limited of Japan wants to make the Indian arm an 100 per cent subsidiary. It plans to buy back the entire stake holding in Ricoh India Limited from FIs and the open market. The company could be delisted after Ricoh Company of Japan acquires the remaining24 per cent stake in the company. Ricoh Company of Japan had recently acquired the RPG Group's stake in the joint venture, RPG Ricoh Ltd, to hike its holding to 76 per cent.
According to market sources, Ricoh Ltd is expected to expand its product range over the next few years to include several new digital products. Ricoh India Limited will be introducing five new products in the current month and will follow it up with the latest digital products in 1999.
SKF Bearings rides the Indica wave
After Telco, it's now the turn of SKF Bearings to ride the `Indica' wave. Not surprising that the SKF Bearing's scrip has zoomed from Rs 720 to Rs 823. The Indian arm of the Swedish bearings major has invested Rs 15 crore to set up a new production facility for front wheel hub bearings, which will initially cater to the requirements of Indica, the small car from Telco's stable. The company has also sent samples to other car manufacturers like Maruti, Mahindra Ford, General Motors for validation.
The companyis currently carrying out a Rs 100 crore modernisation and upgradation programme at its Pune factory. The company reported a turnover of Rs 362 crore for 1997-98. However, marketmen are not very confident of the company clocking a turnover of Rs 400 in the current fiscal due to the on-going recession in the automobile industry.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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This story was printed from Net Express located at http://www.expressindia.com. Net Express provides a portal to India, with news from The Indian Express and The Financial Express along with sites on travel and tourism, the entertainment industry, the power sector, the environment and much more.
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