Stock Update >> Ranbaxy Laboratories
Stock Update >> Tourism Finance Corporation of India

• Daiichi Sankyo’s open offer for acquiring a 20% stake at Rs737 per share in Ranbaxy Laboratories (Ranbaxy) expired on September 4, 2008. Media reports suggest that around 18.4 crore shares were tendered in the open offer, as against the free float of Rs24.3 crore shares. This would cause the acceptance ratio to increase from around 32% to close to 50%. We expect the stock to stabilise around Rs400-425 post the expiration of the open offer….
• The financial year 2008 could be termed as a turnaround year for Tourism Finance Corporation of India (TFCI), which with a 5.8% growth in its loan book broke the previous four years’ trend of a negative growth in advances during the year. The industry witnessed a robust credit growth during the same period, riding on the consumption boom in the country. During the year, project related sanctions increased by 52.5% while disbursements increased by 67.4%.

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