From the Sensex pack, ICICI Bank, State Bank of India, Larsen & Toubro, Maruti, Tata Steel, Kotak Mahindra Bank, Bajaj Finance, Nestle, Power Grid and HDFC Bank were the major gainers. Jio Financial Services, Bharti Airtel, Tata Motors, Tech Mahindra, ITC, UltraTech Cement and Mahindra & Mahindra were among the laggards.
The IPO boom in 2023 added four new promoters to the billionaires' list.
Drug Controller General G N Singh said the regulator is addressing all the pending issues to liberate the pharma sector and to simplify export regulations which will be reflected in the forthcoming policy.
Notwithstanding concerns about lofty valuations, smallcaps recorded their most significant monthly gain in nearly three years in November. The National Stock Exchange Nifty Smallcap 100 finished the month with a 12 per cent gain, the most since February 2021 when it rose by 12.2 per cent. After declining by 4.1 per cent in the preceding month, the Nifty Midcap 100 rose by 10.4 per cent, the most since July 2022.
Drug maker Marksans Pharma on Thursday said it has acquired UK-based generic pharmaceutical company Relonchem for an undisclosed amount.
'However, we have seen weakness in our active pharmaceutical ingredients business.'
Most pharma stocks are trading at the higher end of their valuations and thus investors need to practice utmost caution.
The stock was the worst hit among the blue-chips on both BSE and NSE.
Ranbaxy was asked to sell all products containing Leuprorelin which are marketed and supplied under brand name Eligard.
The government is optimistic that the Indian pharma industry with a strength of 25,000 companies will be a leading player in the sector in the years to come.
FDI in brownfield investment has resulted in acquisition of domestic drug-manufacturing firms by multinational companies.
Sun Pharma's offer was tempting because Ranbaxy was too busy fighting fires in the US to concentrate on operations.
It, however, was a record-smashing week for both the indices, which scaled their lifetime highs.
'Interim Budget has ignited the entrepreneurial spirit.'
The recent pullout by ICICI Venture and Citigroup Venture from a three-year-old drug discovery partnership with Dr Reddy's Laboratories points to angel investors' growing aversion to risk in pharma and biotech firms, say experts.
We give you a perspective of the Indian pharma industry by carrying out a SWOT analysis.
It hopes to turn around Ranbaxy within four years of closing the deal by improving efficiency and resolving all regulatory issues
Reliance Mutual Fund has launched a pharma fund in India -- its third sector specific fund after banking and power -- and expects to raise over Rs 200 crore.
China's API exports to India touched $3.3 billion last year, while Indian drugs struggled to post $500 million worth of exports to China.
Sun Pharma, Bajaj Finserv, Tata Consultancy Services, Infosys, Hindustan Unilever, JSW Steel, Wipro, Maruti, HCL Technologies, Tech Mahindra and ICICI Bank were the other major gainers. State Bank of India, Tata Motors, Axis Bank, Kotak Mahindra Bank, Bajaj Finance, Tata Steel, Nestle and HDFC Bank were the laggards.
Sun Pharma, in a filing to the Bombay Stock Exchange, said that the 'Tel-Aviv Court on Tuesday has rejected Taro's contention that Sun Pharma should have conducted a special tender offer under Israeli Law.'
Swiss food giant Nestle has acquired CM&D Pharma, a UK-based drug maker that specialises in the development of products tailored for patients with kidney disease, for an undisclosed amount.
The deal had separately come under scanner of the market regulator Sebi for alleged insider trading violations and the present 'no-objection' from the exchanges.
Apart from IT and pharma, the lead spenders in travel are construction, automobile and metals and mining companies and together these sectors accounted for 82 per cent of business travel spend in India in 2015, up from 78 per cent in 2013.
Asian markets were trading mixed with the Nikkei gaining after the US dollar strengthened against the yen.
Trade deficit during the month narrowed to USD 14.54 billion from USD 15.3 billion in January 2020. It was USD 15.44 billion in December 2020.
DUSA is a dermatology company focused on developing and marketing its Levulan photodynamic therapy platform.
ICICI venture firm, RFCL Ltd acquired Alved Pharma and Foods. RFCL aims at banking on Alved's southern market in animal healthcare business.
A three-member team each from the Central Drugs Standard Control Organisation (CDSCO) and the State Drug Controller visited the plant in Tamil Nadu's Kancheepuram, 40 km from Chennai, on Friday after the company recalled the eye drop.
Investors turned cautious after India's trade deficit widened to a more than three-and-a-half-year high of $16.6 billion due to costlier crude oil imports
Pharma body wants all excisable goods used for R&D purposes should be exempted from central excise duty.
Based on a writ petition filed by some individual investors, the High Court while ordering the status quo on Friday, issued notices to SEBI, BSE, NSE, Sun Pharma, Ranbaxy, Daichii Sankyo and Silver Street Developers.
Sun Pharmaceutical Industries said it has received approval from US health regulator to market generic Clarinex tablets and Tiazac capsules, used in treating nasal allergies and hypertension, respectively, in the American market.
The sharp correction in the Indian markets from their peak levels has made valuations attractive, say analysts, who advise buying selectively, but only from a long-term perspective. Fifty-six of the Nifty 100 stocks, according to Mahesh Nandurkar, managing director at Jefferies, now trade below the 10-year historical averages, including stocks in financial, select auto, and pharma sectors. "Valuation (one-year forward consensus price-to-earnings, PE) has declined 25 per cent from October 2021 peak, almost matching the 33 per cent price-earnings contraction during the 2011 tightening cycle when repo rates went up by 375 basis points (bps) versus 250 bps this cycle.
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