Orchid is among a handful of Indian companies to post meteoric gains after exiting bankruptcy proceedings. Such rallies could pose considerable risks for investors as those firms typically dont have good fundamentals, according to some market watchers.
Trading volume on the counter was almost three times higher than its two-week average trading volume on BSE. Over 5.25 million shares changed hands till 1.15 pm on both BSE and NSE.
Why the stock of Alkem Labs is a good ‘Buy’
The stock is suitable for long-term investors, given multiple positives and reasonable valuation
Alkem Laboratories, the fifth largest pharma company in India, is a dominant player in acute therapy areas with well-established brands.
The company is ranked number one market share in terms of revenue in anti-infectives. It also has the third largest market share each in gastro-intestinal and pain and analgesics therapies. Over the years, Alkem Labs has held on to or improved its rankings in these areas.
In the chronic segment too, which covers neurology, dermatology, cardiology and anti-diabetics, Alkem Labs, despite smaller presence, has managed to up its market share.
Trading pick of the week: Hikal (₹179.6): Buy
× Investors with a medium-term perspective can buy the stock of Hikal, a small-cap pharmaceuticals company, at current levels.
The company offers solutions across the life sciences value chain. Since recording a multi-year low at ₹57 in March 2020, the stock had been in an intermediate-term uptrend until it encountered a key resistance at around ₹200 last September.
Thereafter, the stock started to trend downwards and had formed a descending channel pattern. This pattern often forms within a long-term uptrend as a continuation pattern.
As the preceding trend is up for the stock, the descending channel pattern acts as a continuation pattern for the stock. An upside break of the pattern that happened last week is bullish. The stock gained 4.4 per cent on Friday, breaching the upper boundary of the descending channel.
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NEW DELHI: Ace investor Rakesh Jhunjhunwala significantly increased his holding in hospital chain Fortis Healthcare in the March quarter, as per data released by the company.
The data, released on Tuesday, shows the Big Bull bought 1.25 crore shares of the company, raising his holding to 4.31 per cent at the end of the March quarter, from 2.65 per cent in the previous quarter.
As of Monday s close, his holding in the company is valued at Rs 671 crore.
Rakesh Jhunjhunwala bought shares worth Rs 260 crore in the March quarter, as of the current price.
Fortis Healthcare shares, however, declined over 2% in afternoon trade on Tuesday following a positive opening.