Healthcare Financial News

By Gabriella Borter

Emami’s share price climbed 5% to Rs 545.25; however, it retreated 0.73% to Rs 515 a day after the company posted consolidated net profit for the second quarter of FY24 at Rs 178.50 crore, down 3.1% as compared to Rs 184.18 crore during the same period last year. It posted revenue from operations at Rs 864.87 crore, up 6.3% compared to Rs 813.75 crore during the second quarter of FY23. “The company demonstrated remarkable resilience in the second quarter and half-year ending on September 30th 2023, overcoming challenges such as poor monsoons, food inflation, and subdued demand in rural markets,” Emami said.

health insurance plan offering financial security to take care of healthcare emergencies arising from unforeseen circumstances and life-threatening accidents. Gaikwad further added, “We cannot ignore the basics, i.e health insurance plans. Having comprehensive health insurance can provide coverage for medical expenses, hospitalisation, emergency check-ups, etc." Thus, by investing in family healthcare insurance which has a floater policy, you’re not only preserving the future of your family but also the future of the next generations.

Max Healthcare Institute Ltd. traded at Rs 598.7 on BSE at 11:01AM (IST) on Tuesday, up 0.51 per cent from previous close. The stock quoted a 52-week low price of Rs 410.55 and a high of Rs 630.0.

Gland Pharma Ltd.(up 4.52 per cent), Ipca Laboratories Ltd.(up 1.88 per cent), Dr. Reddy's Laboratories Ltd.(up 1.75 per cent), Aurobindo Pharma Ltd.(up 1.58 per cent) and Zydus Lifesciences Ltd.(up 1.53 per cent) were among the top gainers.

equities by foreign portfolio investors intensified in October as a sharp spike in the US bond yields amid concerns that interest will stay higher for longer triggered a risk-off mood on Dalal Street. Data shared by the National Securities Depository Ltd (NSDL), showed that eight major sectors saw high selling by FPIs, with financial services bearing most of the brunt of it. FPIs net sold shares worth Rs 28,933 crore or $3.5 billion across eight sectors, namely financial services, information technology, oil & gas, power, fast moving consumer goods, construction, consumer durables, and healthcare.

(Reuters) -The United Auto Workers (UAW) union on Monday said members at the General Dynamics (NYSE:GD) plants at Ohio, Michigan and Pennsylvania have voted to ratify a new tentative agreement.

The Walt Disney Co. on Monday named 34-year PepsiCo veteran Hugh Johnston as its new chief financial officer

Max Healthcare Institute Ltd on Monday reported a 26.59 per cent rise in profit after tax to Rs 338 crore in the quarter ended September 30, 2023.

KPMG-affiliate BSR & Co, in its audit of Pristyn Care’s FY22 financials, pointed out that the company did not have internal controls to accurately determine prices charged to hospitals or patients. It also raised questions on the genuineness of the company’s agreements with doctors, and highlighted how the vendor selection process was not operating efficiently.

JSW Steel, Reliance Industries and ICICI Bank is driving the overall performance. The spread of earnings has been decent, with 74 percent of MOFSL Universe either meeting or exceeding profit expectations. However, growth has been led by the BFSI, O&G, and Automobile sectors, it reviewed.

Poornima Damodaran, Partner, Deloitte with members consisting of Kumar Nitesh, CEO Trend Footwear & Ajio Business, Reliance Retail, Dr. Amit Malik, CEO, Amaha Healthcare, Mithun Appaiah, CEO, Wow Momos, Sudhir Samal, CEO, UB International Trading Ltd., and Anupa Rongala, Director & CEO, Invensis. Kumar Nitesh mentioned, “It is important for the management to have healthy communication within the organization to build the values together".

India, November 3, 2023: Total Emergency Network (TEN), a pioneering startup that has disrupted the healthcare industry with its innovative approach to ambulance services, has successfully secured substantial funding of INR 1.5 Crore in its angel funding round. This crucial investment was led by BMV.Money (unstoppable start-up funding) and a group of dedicated family and friends.

A prominent cardiologist, Dr. Eva Lonn, at McMaster University in Hamilton, Ont. is under review by the university for comments made on social media about pro-Palestinian protests, calling for rallygoers to be deported.

“With the election buzz around the corner, steering clear of volatile stocks, especially in the smallcap realm, would be smart,” says Sonam Srivastava, Founder and Fund Manager at Wright Research, PMS. In an interview with ETMarkets, Srivastava said: “Considering the delayed festive season, placing bets on the consumption narrative, commodity and energy sectors, sizable banking and financial entities, and IT stocks, which have caught the eye of FIIs, could be a strategic approach to capitalize on the present dip” Edited excerpts: We have seen markets coming down from highs in both Sensex and Nifty. What is fueling the fall – is it the combination of a rise in US Yields and geopolitical concerns? The Sensex and Nifty have seen a notable correction lately, which seems a bit out of place considering India's strong growth narrative.

Divi's Labs, Nykaa, Varun Beverages, Adani Energy Shares of Divi's Labs, Nykaa, Varun Beverages, Adani Energy will be in focus today as the companies will announce their second quarter results. Vedanta Vedanta slipped into red in the quarter ended September, as the mining major reported a consolidated net loss of Rs 1,783 crore Read more: Here's the trade setup for today's session Delhivery Delhivery reported better results in the September quarter, with the consolidated net loss narrowing to Rs 103 crore from Rs 254 crore a year ago SBI SBI reported an 8% growth in net profit for the quarter ended September to Rs 14,330 crore, but was lower than the estimates. Bank of Baroda Bank of Baroda posted a 28% rise in net profit for the quarter ended September to Rs 4,253 crore. IndiGo IndiGo operator swung to profit at Rs 188 crore in the second quarter, from a loss of Rs 1,583 crore a year ago. PB Fintech PB Fintech, which operates Policybazaar, reported net loss of Rs 21 crore in the September quarter. Revenue from operations were up 22% to Rs 812 crore. Metropolis Healthcare Metropolis Healthcare reported net profit of Rs 35.45 crore in the September quarter.

NEW DELHI : Germany is keen to expand its development partnership with India in strategic third countries, a year after the two countries unveiled a program to cooperate in Peru, Malawi, Ghana, and Cameroon. While the India-Germany cooperation in these countries has been focused on climate and sustainability, Germany is interested in expanding the programme to include healthcare projects and sponsoring health-related research and development in Africa, said Jochen Flasbarth, state secretary in Germany’s Federal Ministry for Economic Cooperation and Development, in a press interaction in New Delhi.

₹100 crore in 2021-22, showed an analysis of annual reports by impact consulting firm Sattva Consulting. Contrast this with the corporate social responsibility (CSR) spending of India's largest companies: 34 exceeded a budget of ₹100 crore in the same year, and the combined incomes of the top 100 NGOs was 30% less than the combined CSR budget of the top 100 spenders. The study, whose data was exclusively shared with Mint, analysed the incomes of 176 of the largest non-governmental organizations (NGOs) in India in 2019-20, 2020-21 and 2021-22.

Varun Beverages, Power Grid Corporation, Shree Cements, Tata Power, Adani Ports, LIC, ONGC, Eicher Motors, RVNL, and M&M, will be releasing their September quarter report cards this week. Here’s a list: November 6 Varun Beverages, Divi's Laboratories, Adani Energy Solutions, Max Healthcare Institute, Linde India, NHPC, Bharat Forge, The Fertilisers and Chemicals Travancore, Nykaa, Hindustan Petroleum Corporation, AIA Engineering, Honeywell Automation India, KPR Mill, Gland Pharma, Emami, Exide Industries, Hitachi Energy India, Radico Khaitan, R R Kabel, Gujarat State Petronet, Bajaj Electricals, Bikaji Foods International, BLS International Services, Redington, Zydus Wellness, Sun Pharma Advanced Research Company, Sobha, Ujjivan Financial Services, Quess Corp, HG Infra Engineering, Borosil Renewables, V-Mart Retail, Paras Defence and Space Technologies.

Vinay Paharia, CIO, PGIM India MF, says “financials is an area of opportunity, to be very frank because there are lots of good quality companies or private banks or NBFCs with very strong structural growth ahead of them. These are the companies which have much higher than average return on equity and they have clearly been stable businesses. We are clearly overweight private banks and non-bank financial companies and see this as a great source of opportunity.” What is your market outlook in terms of how the valuations stack up versus the earnings growth that we have seen in the quarter gone by? Definitely the valuations currently are at a premium and are seemingly capturing most of the fundamentals for the next six months to one year. We have borrowed some returns from the future and hence, for the near term we are a little bit cautious purely on valuation reasons.

Atul Suri, CEO, Marathon Trends — PMS, says “people are scared to buy at 30 PE, 40 PE, because historically these have been 10 and 15 PEs. But the fact is if the numbers continue to come, if they continue to deliver, that is really how bull markets are made. All great stocks have been expensive. Rarely, have all the wealth creators been cheap. The fact is that these companies tend to beat. And when they beat, what looks expensive suddenly looks cheap.” Give me an example of where strength in the market has surprised you. It is not a recommendation. We are discussing one or two names. Let us say electrical equipment. I would not take a name because I own the stock, but it is in the midcap space. You realise that all these unglamorous, boring companies went up. People say now they are at 40 PE, 50 PE and they have become very expensive. But these companies are delivering 30-40-50% returns and what looks expensive one quarter suddenly looks cheap the next quarter. As earnings keep coming, if you have an industrial revival, these companies will continue to surprise.