M&M was the biggest loser in the Sensex chart, falling 6.39 per cent, followed by Tech Mahindra, Nestle India, Bajaj Finance, Axis Bank, ITC, JSW Steel, HDFC Bank and RIL. On the other hand, Sun Pharma, Tata Motors, Bharti Airtel, L&T and Infosys were among the winners, rising up to 2.10 per cent.
Among Sensex stocks, Wipro gained the most by 3.29 per cent. Ultratech Cement, Reliance Industries, Hindustan Unilever, Nestle, NTPC, M&M, HDFC Bank, ITC, Kotak Bank and Axis Bank were among the winners. On the other hand, HCL Tech fell the most by 1.24 per cent. SBI, TCS, Infosys, IndusInd Bank and Tata Steel also dropped.
Benchmark equity indices Sensex and Nifty rebounded from early lows to settle higher on Wednesday following buying in Reliance Industries, Larsen & Toubro and ITC and positive trends in Asian and European markets. The 30-share BSE Sensex rose by 173.22 points or 0.26 per cent to settle at 66,118.69. The index opened lower and fell further to a low of 65,549.96 in morning trade.
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.
Among the Sensex firms, Bajaj Finance jumped the most by 4.64 per cent. Bajaj Finserv, Kotak Mahindra Bank, Asian Paints, UltraTech Cement, ICICI Bank, NTPC, JSW Steel and Tata Steel were among the major gainers. Infosys, Mahindra & Mahindra, Wipro, Tata Consultancy Services, IndusInd Bank and HCL Technologies were the major laggards.
Drug maker Marksans Pharma on Thursday said it has acquired UK-based generic pharmaceutical company Relonchem for an undisclosed amount.
Most pharma stocks are trading at the higher end of their valuations and thus investors need to practice utmost caution.
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.
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.
Ranbaxy was asked to sell all products containing Leuprorelin which are marketed and supplied under brand name Eligard.
FDI in brownfield investment has resulted in acquisition of domestic drug-manufacturing firms by multinational companies.
The stock was the worst hit among the blue-chips on both BSE and NSE.
Sun Pharma's offer was tempting because Ranbaxy was too busy fighting fires in the US to concentrate on operations.
The IPO boom in 2023 added four new promoters to the billionaires' list.
It, however, was a record-smashing week for both the indices, which scaled their lifetime highs.
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.
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.
'However, we have seen weakness in our active pharmaceutical ingredients business.'
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, 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.
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.
'Interim Budget has ignited the entrepreneurial spirit.'
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
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.
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.
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