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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (8386)	10/13/1999 10:11:00 PM
From: Mohan Marette	Read Replies (1) of 12475

CompanyWatch: Ranbaxy's molecular rise. Ranbaxy Lab ranbaxy.com Ranbaxy Fine Chemicals Ltd ranbaxyfinechemicals.com 10/14/99 (Ft) Ranbaxy Laboratories hit an all-time high on the BSE and the NSE, on renewed buying interest by US-based portfolio funds. Alliance Capital is said to have picked up 300,000 shares while Morgan Stanley bought about 160,000 shares. Rumours that the company is in the process of developing another molecule, which it will unveil by December contributed to the rise in stock price. Last month, Ranbaxy announced a new drug delivery system deal with Bayer of AG for ciprofloxacin. The Pentafour bull too picked up about 530,000 shares in the past two days. Pharmaceutical analysts also expect Ranbaxy to post a 20 per cent plus growth in net earnings for the third quarter ended September '99. The board meeting is scheduled to be held on October 25.

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