The rupee's appreciation of 6.4 per cent against the dollar and 12 per cent against the euro is likely to hurt the first-quarter performance of the pharmaceutical sector, indicate a results' preview by broking houses.
Surya Narayan Patra of SSKI & Sharekhan discusses his picks from the pharma space
India emerging as a big global destination for contract manufacturing, unlike R&D outsourcing.
Better-than-expected financial results in Q3 due to higher revenue growth and margins in key markets fuel the rally
Though the markets have lost ground since the past few sessions, analysts do not seem worried.
Natco Pharma, Wockhardt and Marksans have rallied between 50 and 70 per cent in the year till date.
Broader market outperformed with the S&P BSE Midcap index adding 0.7%, while S&P BSE Smallcap index gained 0.6%.
Markets extended gains led by financials and capital goods shares coupled with a rebound in IT shares.
The industry feels that prices of active pharmaceutical ingredients (APIs) can go up in the range of 5-15 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The rally in most of these stocks is partly attributed to impressive financial performance.
