'We suggest an equity strategy of 5% to 10% exposure to cash, 5% to Gold ETF, close to 50% to Sensex/Nifty/large mid-cap stocks.'
Benchmark stock indices Sensex and Nifty cut short their four-day gaining streak to close lower by half a per cent on Wednesday due to profit-taking in banking oil and metal stocks amid weak trends in global markets.
These stocks offer the best combination of maximum 'buy' recommendations from brokerages and share price upside over the next 12 months.
Oral paracetamol and another cough medicine manufactured by companies based in Mumbai and Punjab were found to be "sub-standard or found to be containing toxins", reports Sohini Das.
Sensex rises, Nifty holds 8,900; FMCG, Pharma shares lead.
The "wealthy pharmaceutical executive" was followed for 50 miles (80 kms) from a Pennsylvania casino to his New Jersey home where he was murdered in an attempted robbery while his wife and daughter were sleeping, the New York Post newspaper quoted the police as saying.
Over the past three trading sessions, the stock of Cummins India has gained about nine per cent on strong January-March quarter (Q4) results and good near-term prospects. Its Q4 performance was led by a healthy 29 per cent revenue growth over the year ago quarter. This was largely on the back of a 33 per cent jump in domestic revenues while exports witnessed a growth of 17 per cent.
Another year of strong performance by these export-oriented sectors likely as US economy revives and rupee is expected to be under pressure.
BSE Metal and Capital Goods indices plunged over 2% followed by counters like Consumer Durables, Auto, Banks and Realty, all falling down between 1-2%.
The BSE Mid-Cap index was currently up 0.81%.
Aurobindo Pharma Ltd has posted a net profit of Rs 211.50 million for the quarter ended December 31, 2002 as compared to Rs 201.00 million in the quarter ended December 31, 2001.
Axis Bank was the top gainer in the Sensex pack, surging over 13 per cent, followed by ICICI Bank, IndusInd Bank, Maruti, TCS, Kotak Bank and Reliance Industries. On the other hand, Nestle India, HUL, Tech Mahindra and Sun Pharma ended in the red. NSE Nifty zoomed 273.95 points, or 3.03 per cent, to finish at 9,266.75.
In a continuing trend for the previous two quarters, foreign currency fluctuations and mark-to- market losses are affecting profits of India's drug makers, despite increase in net sales ranging between 4.5 and 42 per cent for most of the firms during the three-month period.
ITC, Sun Pharma, Maruti, M&M, Tata Motors, HCL Tech, Wipro, Infosys, HUL, Bharti Airtel and Reliance were among the major losers. Kotak Bank rose the most by 1.59 per cent, followed by IndusInd Bank, Bajaj Finance and Bajaj Finserv. L&T, SBI, TCS and HDFC Bank also closed higher.
Among Sensex stocks, SBI, IndusInd Bank, HDFC Bank, Axis Bank, HDFC, Tech Mahindra, ICICI Bank, Ultratech Cement, L&T, Bajaj Finserv, Reliance, HCL Tech, Asian Paints, Wipro and M&M were the major losers. On the other hand, HUL advanced the most by 1.14 per cent. Maruti, Tata Steel, NTPC and Sun Pharma also posted gains.
At an aggregate level, the late ace investor's portfolio that was valued at Rs 32,445 crore as on March 31, 2023 is now worth Rs 35,979 crore.
Kavitha Kalvakuntla, 44, a Bharat Rashtra Samiti MLC, declared this in a late-night post on her official Twitter handle.
Kavitha said 'these tactics of intimidation' against the fight of her father and Chief Minister K Chandrasekhar Rao and the BRS would not deter them.
Under terms of the agreed deal, Ranbaxy shareholders will get 0.8 of a Sun Pharmaceutical share for each Ranbaxy share they own.
HUL believes that post Covid, the awareness about health and wellbeing and selfcare, has exploded and there is a mindset change from health as absence of disease, to health as a part of lifestyle.
Sensex dull at close, Infosys rules, ITC drags.
Delhi deputy Chief Minister and AAP leader Manish Sisodia has been named as an accused in the case.
Sun Pharma dipped 2% to Rs 615 on the BSE, its lowest level since November 9, 2016
Sun Pharma was by far the biggest gainer in the Sensex pack, surging 8.13 per cent, followed by Dr Reddy's at 4.92 per cent.
Other gainers included Kotak Bank, HCL Tech, ONGC, Asian Paints, Vedanta, HDFC Bank, Bajaj Finance, Maruti and TCS, gaining up to 1.41 per cent. Sun Pharma was the top loser, cracking 8.58 per cent.
Market players said a big upmove by the market will depend on policy action by the government to revive economic growth and corporate earnings revival.
Sensex is under pressure due to concerns in the global market.
Brokerages have cut the company's FY16 earnings estimates between 16% and 29% with target prices too coming down to the Rs 700-800 band
The S&P BSE Sensex ended the session at 25,342, up 3 points while the Nifty50 closed at 7,738 points.
Many companies globally are working on plasma research to develop and manufacture hyperimmune globulin therapies from plasma donations.
Sun Pharma was the top loser in the Sensex pack, falling over 3 per cent, followed by IndusInd Bank, Bharti Airtel, Kotak Bank, ICICI Bank and HDFC Bank. Nifty fell 59.75 points to 17,829.20.
Nothing is going to dramatically open up on May 3. There will be too many ifs and buts and terms and conditions and guidelines in leading one's life in various zones, reveals Sheela Bhatt.
With all major US export-oriented drug manufacturing plants in the country up for inspection in 2022, some estimates peg that at least 20-30 per cent of the new product launches lined up for the US will be subject to on-site inspection by the US Food and Drug Administration (USFDA). The last two years saw limited physical inspections due to travel restrictions during the pandemic. "Pre-Covid, the frequency and number of inspections of manufacturing plants in India by USFDA had increased significantly," analysts from ICICI Securities Research noted. "With growing ANDA filings, especially for complex products. "We expect this trend to return with the environment normalising," analysts from ICICI Securities Research noted.
'We have to plan for whatever the new normal is.'
Among the many exits from the billionaire's club in 2022 are D Uday Kumar Reddy of Tanla Solutions (net worth down 66 per cent), Sushil Kanubhai Shah of Metropolis Healthcare (down 65.7 per cent), Vijay Shekhar Sharma of One97 Communications (down 66 per cent), and C K Birla (down 43.4 per cent).
In an 'open letter' posted on his Twitter handle, Ramdev posed 25 questions to IMA, which had objected to his video clip running down allopathy treatment for COVID-19.
On her maiden visit to India, US Food and Drug Administrator Margaret A Hamburg has said recent lapses in quality by a handful of pharma companies has overshadowed the good things done by other Indian companies, who emphasise on quality products and practices.
Some Indian generic drugmakers are, however, uncertain about the pace of approvals in the near future.
In the midst of third wave of COVID-19, Finance Minister Nirmala Sitharaman has come up with an impactful Budget which is balanced, fiscally prudent and growth-oriented, the USA India Chamber of Commerce has said. President of the Boston-based USA India Chamber of Commerce (USAIC) Karun Rishi, however, said it is a matter of concern that the budget lacks tangible measures to increase revenue generation. "Opting to keep the fiscal deficit at 6.9 per cent and increase capital expenditure by 35 per cent is a masterstroke. "The annual budget estimates the effective capital expenditure of Rs 10.68 lakh crore in 2022-23, making up about 4.1 per cent of the GDP," he said. "A phenomenal increase in the government's capital expenditure is likely to facilitate the expenditures on infrastructure and create jobs.
TCS was the biggest loser in the Sensex pack, sliding 3.17 per cent, followed by HCL Tech, Yes Bank, IndusInd Bank, RIL, ICICI Bank, Infosys, Tata Steel, Kotak Bank and L&T, down up to 2.34 per cent.
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