Posts filed under 'Pharmaceuticals'
The market movement today is making experts believe that the upside is still in tact and that Nifty would be crossing 5000. All eyes now shifted on what the Reserve Bank of India will be doing in regard to CRR in its upcoming review. With December 2011 inflation at 7.47%, experts are having mixed views on RBI’s possible stance on CRR.
SENSEX today closed at 16189.40 gaining 34.80 (0.22%) while the NIFTY closed at 4873.90 gaining 7.90 (0.16%). While the CNX Midcap closed in the red at 6647.05 losing 6.50 (-0.1%), the BSE Smallcap closed in the green marginally at 6192.03 gaining 20.28 (0.33%).
LIC is reported to have hiked its stake in Wockhardt by 1% in Oct-Dec Quarter. Wockhardt buying interest today with the script touching Rs. 350.85 gaining Rs. 14.45 (4.3%) today with a volume of 489.5k shares traded.
Cash strapped UB group plans to list W&M overseas according to sources. United Spirits shot to Rs. 632.10 today gaining Rs. 32.75 (5.46%) with a volume of 2.36m shares traded.
January 16th, 2012
Moody’s Investors Service has cut the Japan Government debt to AA3 following the inability of Japan to control its debt since the 2009 global economy crisis and the revolving-door policy of leadership in the Government. This has triggered Asian stocks to slide early in the day despite the US stock markets rallying. Back in January 2011, Standard & Poor has cut its rating on Japan to AA-.
Dow Jones (Aug 23) closed the day at 11176.76 rallying 322.11 points while Nasdaq (Aug 23) closed at 2446.06 adding 100.68 points. The S&P 500 added 38.53 points and closed at 1,162.35.
Meanwhile, the Indian stock markets started their day with a lower opening made a small attempt to come and stay in the green territory but it could not survive the attempt. Stocks soon began to fall dragging the indices into the red. Things did not change despite the opening of the European markets that are largely in the green.
SENSEX closed the day at 16284.98 losing 213.49 (-1.29%). NIFTY is at 4888.90 by closing time losing 60.00 (-1.21%). CNX Midcap at 7266.30 losing 58.20 (-0.79%) while BSE Smallcap is at 7158.64 down 36.68 (-0.51%). All major sectoral indices are in the red.
There are no block buster moves today, at least in the large cap stocks. Power Grid Corp, Hindalco, Grasim, Ranbaxy Labs, HUL, Reliance Comm, Dr Reddys Labs, ONGC and HDFC closed the day with modest gains. However, there are more downward draging large cap names today. Tata Steel and Tata Power are both down over 4%. IDFC, Maruti Suzuki, Tata Motors, SBI, Axis Bank are down over 3% each. HCL Tech, Jindal Steel, Reliance Capital and L&T are down over 2%.
Automobile tyre major Apollo Tyres (BSE: 500877; NSE: APOLLOTYRE; ISIN: INE438A01022) is given an ‘Outperformer’ rating by Standard Chartered in its recent report. The stock has a target of Rs. 80. The script closed the day at Rs. 56.60.
Lupin (BSE: 500257; NSE: LUPIN; ISIN: INE326A01037) from the Pharmaceuticals space is gaining attention of market experts. Hitesh Sheth of Prabhudas Lilladher says the target for the stock is Rs. 515. Motilal Oswal too had a target of Rs. 514. PINC Research in its research report dt July 28, 2011 has put a target of Rs. 505. The script enjoys and EPS (TTM) of 16.25 and a P/E of 27.66. The industry P/E is at 10.46. The script closed the day at Rs. 449.50.
August 24th, 2011
The 512 points lost on Dow Jones yesterday has created panic ripples across the world. Almost all global economies had one of their worst trading sessions today with the losses on indices appearing to be not less than 2 to 3%. Nikkei lost 359.3 points, Hang Seng lost 938.6 points, FTSE lost 114.35 points, DAX lost 103.58 points and Indian markets too closed with some red numbers.
The Sensex closed the day 387.31 points lower at 17305.87. At one point of time, the Sensex is down over 500+ points. The Nifty managed to close the day above the critical 5200 levels at 5211.25 losing 120.55 points today.
No sector is spared from the selling spree today. Auto, Banks, Metals, Capital Goods, Consumer Durables, Oil & Gas, almost all sectors saw heavy offloading of stocks, probably by FIIs.
Top losers of the day are Reliance Infra, Reliance Communications (both down over 7%), Cairn India, Sterlite Industries (both down over 6%), HCL Tech, Sesa Goa, Reliance Power (all three down by over 5% each) amongst others. Surprisingly few stocks managed to close in the green today. BPCL is up 1.99%, ONGC is up 1.41%, Hindalco and Cipla are marginally in the green.
Cipla (BSE: 500087 | NSE: CIPLA | ISIN: INE059A01026) announced its quarterly numbers today. Net Sales are at Rs. 155033 lacs for quarter ending on 30 June 2011 against Rs. 142738 lacs for the quarter ending June 30, 2010. Net Profit is at Rs. 25334 lacs for the quarter vs Rs. 25742 lacs for the same quarter last year.
Ranbaxy Laboratories (BSE: 500359 | NSE: RANBAXY | ISIN: INE015A01028) too announced its numbers today. Its Q2 net profit is down 25% at Rs 243 cr.
Jain Irrigation (BSE: 500219 | NSE: JISLJALEQS | ISIN: INE175A01038) reports its Q1 net profit is up 32% at Rs 82 cr.
August 5th, 2011
The Sensex opened at 18514, touched the high/low at 18566 and 18415 to close the day at 18436. Realty, Consumer Durables and Banking stocks lost the most.
The Nifty lost 25.45 points to close at 5541.60. Nifty Junior lost 1%. CNX 100 lost 0.56%, CNX 500 lost 0.50% in trades today.
Big volume shockers on the BSE today include DB Corp, Network 18Media, Mindtree, Page Industries, Ruby Mills, CRISIL amongst others. Turnover toppers of the day include Crompton Greaves which recovered today after two disastrous sessions where it lost about 30% of the stock value. Others in the list of top turnovers include SBI, Petronet LNG, Hero Honda, IRB Infra, LIC Housing Finance, SKS Microfinance amongst others.
Meanwhile, one significant news piece of yesterday is that Rakesh Jhunjhunwala, one of the largest Indian retail investor has almost halved his investment in Lupin, a leading pharmaceutical company. This was reported by the company in its updates to the stock exchanges. A quick poll on a leading financial website showed that Jhunjhunwala selling a part of his investment impacts the sentiments of the small retail investors in the script. Meanwhile, the script was down a little in the two days of trade. It closed at Rs. 446.95 on the BSE down by Rs. 14.60.
As of quater ending June 2011, Life Insurance Corporation of India holds 4.45%, Genesis Indian Investment Co Ltd holds 3.81%, ICICI Prudential Life Insurance Company Ltd holds 2.98%, HDFC Trustee Company Ltd holds 1.8%, Jhunjhunwala Rakesh Radheshyam holds 1.73%, Reliance Capital Trustee Co Ltd holds 1.68%, Government Pension Fund Global holds 1.46%, HSBC Global Investment Funds 1.23%, HDFC Standard Life Insurance Company Ltd 1.07% and DSP Blackrock Funds 1.02%
July 21st, 2011
Glenmark Pharmaceuticals Limited
Religare has picked Glenmark Pharmaceuticals Limited as one of its top midcap pick.
Positives: The company’s development of a portfolio of low-competition niche generics are believed to drive growth for the company in the near to short-term. Restructuring and geographical expansion in Latin America is believed to be the main contributor for grown. US Volumes are likely to increase in view of a line of approvals that are likely to get cleared.
Negatives: Sanofi and Merck deal turning unfavorable. Pricing pressure from the US market
Dr. Reddy’s Laboratories
IIFL recommends Dr. Reddy’s in the Large-cap buys.
The stock is currently at Rs. 1329 and IIFL expects a target of Rs. 1803
Lupin
Goldman Sachs has moved Lupin off its convictions list but has still put a Buy rating on the stock.
Positives: FTF pipeline, stable to positive US sales and Lupin’s move towards leadership position with consistent CROCI returns.
Negatives: Delay in FDA approvals, increased competition and lower sales volumes.
October 3rd, 2010
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