Among Sensex firms, Tech Mahindra, HCL Tech, Asian Paints, NTPC, Infosys, Nestle, Sun Pharma, and Tata Steel were the major laggards. Eternal, State Bank of India, HDFC Bank, Larsen & Toubro, Reliance Industries and Bajaj Finserv were the gainers.
'What the US appears to be doing is to force India to be "the buyer of last resort", on whom their products can be dumped, 1.4 billion people have to eat something, so why not eat American corn?' 'What is exercising the Trump lot is the fact that most of the farms are in solidly Republican Midwestern states: Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, Wisconsin,' points out Rajeev Srinivasan.
IndusInd Bank, Nestle, UltraTech Cement, Mahindra & Mahindra, Power Grid, Asian Paints, Sun Pharma and Tech Mahindra were also among the laggards. Bajaj Finance, Bharti Airtel, ICICI Bank, Adani Ports and HCL Tech were among the gainers.
Traction for its specialty portfolio, a strong showing in the domestic market, and better regulatory compliance are positives for the country's largest pharmaceutical (pharma) company, Sun Pharmaceutical Industries. Given the triggers, some brokerages have increased their earnings per share estimates and target price for 2024-25 (FY25). This should sustain the momentum for the stock, which has been one of the major pharma gainers in 2023-24 (FY24), rising 57 per cent. It is currently trading at Rs 1,547 per share.
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.
Dilip S Shanghvi reminisces about Anji Reddy.
'Whichever company offers better incentives, the chemist would prefer it.'
From the Sensex pack, Bajaj Finserv, IndusInd Bank, NTPC, Larsen & Toubro, UltraTech Cement, Adani Ports, Bajaj Finance, Power Grid, Zomato, State Bank of India, HDFC Bank and Titan were the biggest gainers. Tata Motors tanked over 5.5 per cent after US President Donald Trump announced he would impose 25 per cent tariffs on imported cars. Sun Pharma, Kotak Mahindra Bank, Bharti Airtel, HCL Tech and Mahindra & Mahindra were also among the laggards.
Sun Pharma, Tata Steel, State Bank of India, Axis Bank, Tata Motors, Larsen & Toubro and ICICI Bank were also among the Sensex gainers. HCL Tech, UltraTech Cement, Nestle and Hindustan Unilever were among the laggards.
Dr Ganesh Natarajan, a special guest on rediffGURUS, has been addressing questions from Rediff readers, about how to grow professionally, how women can achieve leadership roles in Indian companies, and what it takes to succeed as an entrepreneur.
India is home to more than 100 million diabetics, and the demand for anti-diabetic drugs is on the rise -- the Rs 20,611 crore anti-diabetic drug market in India is growing at 9 per cent or so.
The death toll from the explosion at the Sigachi Industries' pharma plant in Pashamylaram has risen to 35, police said on Tuesday.
The Promed group manufactures and delivers branded as well as generic pharmaceutical formulations to Russia, CIS, south-east Asian countries, the UK and EU.
Industry must take strong collective action to protect the reputation it enjoys in global markets, says Kiran Mazumdar Shaw.
With the government asking the companies to operate with only 50 per cent staff strength, and exports dipping to almost zero, the truck and bus drivers idling at the petrol pump say they hardly have any work now. At a petrol pump on the deserted Bavla-Changodar highway near Ahmedabad in Gujarat, several trucks and buses are neatly parked in a row.
From the Sensex firms, Infosys declined by 3.54 per cent. Power Grid, Eternal, HCL Tech, Tata Consultancy Services, Bharti Airtel, IndusInd Bank, NTPC and HDFC Bank were the major laggards. Sun Pharma, Adani Ports, Bajaj Finance, State Bank of India and Tech Mahindra were the gainers.
Foreign brokerages remain cautious on the road ahead for the Indian equity markets. Though analysts at Nomura have revised their March 2026 Nifty target to 26,140 levels from the earlier 24,970, but the upside from the current levels is a modest 6 per cent. BofA Securities, on the other hand, has not made any change to its year-end Nifty target.
US President Donald Trump's plan to sign an executive order to cut prescription drug prices by 30-80 per cent could lead to a global price adjustment with pharma firms pushing lower-cost countries like India to raise prices, according to the economic think tank GTRI. The US move could push prices in lower-cost countries like India as manufacturers would seek to recover losses and R&D costs from these nations.
While the chemicals ministry, which drafted the policy, is the administrative ministry for the pharma industry, quality regulation and marketing approvals come under the purview of the health ministry. Agriculture Minister Sharad Pawar, who heads the GoM, asked health and chemicals secretaries to sort out the issues and get back to the GoM at the earliest.
India's pharmaceutical exports to Iran have been hit owing to depleting rupee reserves in the West Asian country because of India stopping the import of crude oil from it in 2019 following US sanctions. Pharmaceutical exports dropped 71.25 per cent in April-August this year over the same period last year. The data from the Pharmaceutical Exports Promotion Council (Pharmexcil) showed exports to Iran had declined 31.29 per cent in 2022-23 as against the previous financial year.
The Indian exporting community is "very" concerned about the possible reciprocal tariffs of the US as it could severely hurt MSME shipments to America in the short run, Federation of Indian Export Organisations President SC Ralhan said on Wednesday. He suggested that the government should come forward and support exporters to deal with these tariffs.
Hit by the new drug pricing policy and regulatory interventions, growth rate of the Rs 72,069-crore Indian pharmaceutical market has slowed down to 9.8 per cent in 2013 as compared to 16.6 per cent in 2012, says a report.
Growth has been under pressure since the lockdowns related to Covid-19 started and fresh prescription generations slowed.
After registering a positive growth for two months, India's exports slipped into negative territory again, contracting 2.17 per cent year-on-year to $38.73 billion in May due to a fall in global petroleum prices, while trade deficit narrowed at $21.88 billion during the month.
Industry insiders in India warn that any such move in the pharmaceutical sector could be counterproductive for the US as it may face increased drug shortages if tariffs are imposed on such imports.
An acute drug shortage in the US and stable pricing along with product launches are likely to boost revenues of India's pharmaceutical companies during the first quarter of this financial year, analysts said. Most brokerages estimate a top line growth of around 14-15 per cent, with earnings before interest, taxes, depreciation, and amortisation (Ebitda) growth of 24-30 per cent for Q1 of FY24. Hospitals are, however, likely to report lower occupancy rates, and diagnostics companies may witness an impact from delayed monsoon.
The year also witnessed Mumbai-based Sun Pharmaceutical continue the tussle for taking over Israeli drug firm Taro, while MNCs struck alliances with Indian companies to capitalise on generics expertise in New Delhi.
With the new patent regime impending, the focus on the exports market can save Indian companies from any unlikely event post-2005.\n\n\n\n
The pharmaceuticals sector is expected to post a revenue growth of around 13.5 per cent and a net profit growth of 30.3 per cent for the third quarter of 2023-24 (FY24), riding on the approval for niche drugs in the US market, fall in raw material prices and correction in shipping rates. In the healthcare segment, hospitals are expected to post revenue growth of 13 per cent during the coverage, while net profit growth would be around 37 per cent, ICICI Securities said in a note. However, the performance may not be comparable on a sequential basis due to the offset of the festive season in Q3FY24, the analysts noted.
With intermittent disruptions in the supply chain of raw materials from China, the Indian pharma industry has braced itself with bigger inventory. Even smaller drug makers are now carrying a month of buffer stock of key raw materials, said industry insiders. The lockdown in various Chinese provinces, including Shanghai, is likely to delay shipments by two weeks to a month, said domestic players. Shipments are critical for the Indian drug industry, which imports 70 per cent of its raw material from China.
With an eye on improving quality assurance in the wake of increased global scrutiny on Indian pharma products, the Centre on Tuesday said that Schedule M of the Drugs and Cosmetics Act, 1940 will be made compulsory for small and medium scale manufacturers in a phased manner. Union Health Minister Mansukh Mandaviya has asked micro-small and medium enterprises in pharma manufacturing to move towards good manufacturing practices (GMP) through self regulation. "This will help in quality assurance and also reduce compliance burden," Mandaviya.
From the Sensex firms, Eternal, ICICI Bank, Bharti Airtel, Sun Pharma, State Bank of India, Bajaj Finserv, Kotak Mahindra Bank and Reliance Industries were among the biggest gainers. Tech Mahindra and Maruti were the laggards.
From the Sensex pack, Tata Steel, Zomato, Power Grid, UltraTech Cement, IndusInd Bank, Larsen & Toubro, Adani Ports, NTPC, State Bank of India and Reliance Industries were among the major gainers. On the other hand, Tech Mahindra, Tata Consultancy Services, ITC, Infosys, Sun Pharma, Maruti, HCL Tech, and Nestle were among the laggards.
Movement in the equity market this week will be guided by a host of macroeconomic data announcements, global trends and trading activity of foreign investors, analysts said. Stocks markets concluded the last week on a subdued note, as investors grappled with global uncertainties.
From the Sensex pack, NTPC, Tech Mahindra, Zomato, Axis Bank, Bajaj Finance, Infosys, Maruti, State Bank of India, Kotak Mahindra Bank, Reliance Industries, Hindustan Unilever, and HDFC Bank were the losers. IndusInd Bank, HCL Tech, Titan, Mahindra & Mahindra and Power Grid were the gainers.
From the Sensex pack, UltraTech Cement, Infosys, Bajaj Finserv, Axis Bank, HDFC Bank, Bharti Airtel, HCL Tech and Tata Consultancy Services were the biggest gainers. Zomato tanked nearly 6 per cent followed by IndusInd Bank which declined about 5 per cent. Adani Ports, Mahindra & Mahindra, Reliance Industries and Sun Pharma were also among the laggards.
Prices may drop by up to 92 per cent with the pharma industry agreeing to a government proposal on capping trade margins.
Maruti, IndusInd Bank, Bajaj Finserv, Eternal, Mahindra & Mahindra, Tata Steel, Kotak Mahindra Bank, Titan, HDFC Bank, and NTPC were among the other major gainers. Bharti Airtel and Sun Pharma were the laggards.
In a big push to the production-linked incentive (PLI) scheme, the government has nearly doubled (increase of 81 per cent) the allocation in five key industry segments from Rs 8,405 crore in the Revised Estimate of FY24 to Rs 15,198 crore in the Interim Budget for FY25. The segments cover over eight PLI schemes, including mobile phones, IT hardware, pharma (PLIs for medical devices, intermediates and pharmaceuticals), food processing, telecom hardware and, auto and auto components. In FY24, DPIIT officials, however, said that the disbursements would be much higher at around Rs 11,000 crore than what has been budgeted for the year.
