Rise in input costs, inventory write-off, and pricing pressures led to a drop in gross margins. Higher competitive pressures led to cuts in operating profit margins and earnings estimates for FY24 and FY25. Most brokerages have a 'neutral' or a 'reduce' rating on the stock on account of valuations.
There was considerable interest in Divi's Laboratories on listing on Wednesday as the scrip turned out at Rs 155, above the issue price of Rs 140.
Gautam Adani-owned Adani Ports and Special Economic Zone (APSEZ) will replace IT major Wipro in the 30-share BSE Sensex from June 24, according to an official announcement on Friday. This marks the first inclusion of any Adani Group firm in Sensex. The group has 10 listed firms with a combined market valuation surpassing Rs 17 lakh crore.
BSE 200 companies together paid 5,819.75 crore as remuneration to their CEOs and directors in FY25, up from 5,352.8 crore a year earlier.
The Nifty 50 index is poised for a revamp as the revised futures and options (F&O) stock selection criteria is seen paving the way for newly listed companies to join the benchmark index, which is tracked by passive funds with combined assets under management of more than ~3.5 trillion ($44 billion). For the first time in six years, the market regulator Securities and Exchange Board of India (Sebi) has tweaked the stock selection process for the derivatives segment that clocks a turnover of ~400 trillion daily.
The stock of Divis Laboratories is up 10 per cent over the last couple of trading sessions on expectations that the worst is behind and the company could see a sequential growth in the March quarter of the 2022-23 financial year (Q4FY23). The stock witnessed the highest downgrades among Nifty50 index stocks with earnings cuts over a third after the Q3FY23 results. The company had posted a 32 per cent drop in revenues over the year ago quarter in Q3FY23 and 8 per cent sequentially, which was sharply lower than Street expectations.
Concerns over weakening demand for Indian pharmaceutical (pharma) drugs in the US - their largest export market - have weighed heavily on investor sentiment this year. While the Nifty 50 has gained 6.02 per cent year - to - date (as on September 15), the Nifty Pharma index has declined 5.18 per cent, National Stock Exchange data shows.
While about 8,000 people are in the long list of invitees, the select list features just a few hundred people, including prominent politicians, leading industrialists, top film stars, sportspersons, bureaucrats and diplomats.
A reading of the reports suggests that there is no standard practice for reporting political contributions and it is left to the company's discretion to report them as they find fit.
The stocks are largely from sectors such as chemicals, finance and cement, which struggled earlier but the worse seems to be behind them.
In calendar year 2024, the stock price of Trent has zoomed 160% As compared to the 18% rally in the BSE Sensex during the same period. It has outperformed the market in the past 10 consecutive years.
The move assumes significance because a go-ahead from the US Food and Drug Administration for the new unit in Visakhapatnam is likely to give a huge boost to the company's revenues in upcoming quarters.
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
As many as 267 of 453 companies from the BSE500 index are trading above their consensus price targets, according to the data compiled by Bloomberg. Not all companies in the BSE500 index are tracked by analysts.
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
Hospitals to recover from sluggish Q3; diagnostics' growth rate at pre-Covid levels.
The average top executive monthly compensation is Rs 1 crore. The median employee salary is now Rs 820,000.
This is the case even though the benchmark index is only 5 per cent below its all-time high. The list of stocks trading at a discount primarily consists companies in the automotive, banking, oil and gas, insurance, healthcare, and metal sectors.
Analysts are expecting pharmaceutical companies to post sales growth of 10-11 per cent in the second quarter this financial year while the Ebitda (earnings before interest, tax, depreciation, and amortisation) margins are anticipated to improve by about 110 basis points. Ebitda improvement will be led by lower input costs because prices of active pharmaceutical ingredients (APIs) are 5-15 per cent lower year-on-year (Y-o-Y). Axis Capital said sales growth would be around 10 per cent, of which growth in the India market would be 11 per cent or so.
Such businesses outperform non-family firms by 3% in first six months of CY20, says Credit Suisse report.
Mirroring the increase in the earnings of their companies, the chief executives and promoters of India's top listed firms gained handsomely from the boom last financial year. Their remuneration includes salaries, perquisites or perks, and profit-linked commissions.
Had you invested Rs 10,000 each in JSW Steel, Titan Company and Bajaj Finance 20 years ago, when they were just penny stocks (trading below Rs 10), you would have become a millionaire by now.
A widening probe by US authorities involving top drug companies following complaints of price fixing of generics was a point of worry for the participants, said analysts.
Additional levy to eat into Rs 6,000-crore income of top promoters
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
market rally, especially in mid-caps, has also been driven by a pick-up in the monsoon and the government's resolve to get the goods and services tax (GST) Bill cleared in the recent session of Parliament.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Nutraceuticals, consisting of dietary supplements and functional foods with curative or nutritional benefits, are estimated to have a sales of $190 billion globally by 2010. India's food supplement and health food market is estimated currently at about $400 million. The country already has a clutch of established players focussing in this segment such as Avesthagen, Himalaya and Sami Labs.
However, experts caution that investors should not expect the big returns they got from the sector between March and September 2020.
Better-than-expected financial results in Q3 due to higher revenue growth and margins in key markets fuel the rally
Once tipped to emerge as the biggest exporter, the pharmaceutical industry is yet to acquire the scale of those in software services, says Krishna Kant.
Polarisation and the increase in index weight of a few a stocks have weighed on performance. The worst performers include Nippon India Large Cap and HDFC Top 100 (2.6 per cent).
The growth was led by family-owned companies and business groups with presence in pharmaceuticals, information technology services, and consumer products.
Experts suggest six ways to play stocks that tank suddenly and make money as Sanjay Kumar Singh listens in
Quite a few large- and mid-cap stocks are yet to recover from the note ban, pharma, banking and rural demand-based industries among laggards.
Pharma was the top losing index amid worries about their earnings outlook with Lupin down over 4%
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'We have seen a host of businesses across sectors generate economic value and wealth for investors.'
