Tag Archives: Panacea Biotec

Indian Stock Market

Indian Stock Market Analysis -21Nov2010

The interesting thing in this market market correction is that many stocks are at 52 week lows and many are near 52 week highs. The stocks that did not participate in the Sept-Oct rally are falling as rapidly as stocks that rose 30-50% and now correcting.

Banking stocks, which led the recent rally, are down with profit booking, but once the market stabilizes and starts moving up, they can move up again by 25-30% in the coming months. Among large banks, ICICI Bank looks good with 1 year target 1500, which is 35% upside from current levels. City Union Bank has posted good results, and is our top pick in smaller banks, and it can gain 50% over next 12 months. Continue reading Indian Stock Market Analysis -21Nov2010 →

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Panacea Biotec BoD Approves Share Buy Back on 30 Dec 2009

Panacea Biotec Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 30, 2009, inter alia, considered and approved the buy-back of its Equity Shares of Re. 1/- each, by way of Open Market Purchases through Stock Exchanges, subject to the approval of Shareholders by way of Postal Ballot and exemption by SEBI under the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 1997.

The Board has also, inter-alia, decided on the following:
1. Appointment of M/s. SPA Merchant Bankers Ltd. as the Merchant Bankers for the proposed buy-back of Equity Shares.
2. Approved maximum buy-back price as Rs. 189/- per Share.
3. Approved the notice of Postal Ballot for obtaining the approval of Shareholders for buy-back of Equity Shares.
4. The maximum number of shares proposed for buy-back as 55,92,000 Equity Shares for an aggregate amount not exceeding Rs. 105.69 Crore