Pharmaceuticals Financial News

Shares of Biocon Ltd.(up 1.26 per cent), Glenmark Pharmaceuticals Ltd.(up 0.82 per cent), Aurobindo Pharma Ltd.(up 0.43 per cent), Abbott India Ltd.(up 0.32 per cent) and Divi's Laboratories Ltd.(up 0.23 per cent) ended the day as top gainers in the pack.

₹32 per equity share with a face value of ₹10 each. The lot size for the GSM Foils IPO is 4,000 shares.

Bank Nifty was down by -37.45(-0.08%) at 24 May 2024 10:44:59 IST.Other stocks such as Varanium Cloud, Semac Consultants, GSS Infotech, MEGASTAR FOOD, Brightcom Group hit their fresh 52 wk lows today.

Divi's Laboratories, one of the leading pharmaceutical companies in India, has purchased two properties worth Rs 80 crore in Hyderabad. The first property is spread over 12,000 sq ft with a built-up area of 200 sq ft. It changed hands from Srinivas Prasad, Surya Kamal Prasad and Satya Chandra Prasad for Rs 40 crore in Jubilee Hills and the second 12,000 sq ft plot from Moturi Surya Kamal Prasad for a similar amount, according to the sale deed documents shared by Zapkey. Properties across significant markets such as Mumbai, Bengaluru, Hyderabad, and Delhi-NCR that only the super-rich can afford have seen huge demand in the last two years.

GSM Foils IPO: The initial public offering (IPO) of small- and medium-sized enterprise (SME) GSM Foils Ltd will open for subscription on Friday, May 24, 2024. The aluminum pharma foils manufacturer aims to raise ₹11 crore through the public issue which will be open for bidding till May 28,2024.GSM Foils manufactures Blister Foils and Aluminium Pharma Foils, also known as "Strip Foils," used for packaging pharmaceutical medicines such as capsules and tablets. These foils are primary packaging materials that come into direct contact with the medicine, so utmost care is taken to ensure their quality. GSM Foils IPO is a fixed price issue of ₹11.01 crore.

Rana Sugars Ltd.(up 0.47%), Mawana Sugars Ltd.(up 0.37%), Kothari Sugars & Chemicals Ltd.(up 0.36%), Vishwaraj Sugar Industries Ltd.(up 0.32%), Rajshree Sugars & Chemicals Ltd.(up 0.24%) and Balrampur Chini Mills Ltd.(up 0.16%) stood among the top gainers.

₹11.5 for Q4 which increased by 28.38% Y-o-Y.Sun Pharmaceutical Industries has delivered 0.78% return in the last 1 week, 27.84% return in last 6 months and 22.22% YTD return.Currently the Sun Pharmaceutical Industries has a market cap of ₹369329.6 Cr and 52wk high/low of ₹1638.85 & ₹932.6 respectively.As of 23 May, 2024 out of 31 analysts covering the company, 1 analyst has given Sell rating, 5 analysts have given Hold rating, 12 analysts have given Buy rating &13 analysts have given Strong Buy rating.The consensus recommendation as on 23 May, 2024 was to Buy.FAQsQuestion : What is the Q4 profit/Loss as per company?Ans : ₹2654.58CrQuestion : What is Q4 revenue?Ans : ₹11982.9CrStay updated on quarterly results with our results calendarMilestone Alert! Livemint tops charts as the fastest growing news website in the world

Eris Lifesciences with a target price of Rs 1100. The current market price of Eris Lifesciences Ltd. is Rs 901.6. Eris Lifesciences Ltd., incorporated in the year 2007, is a Mid Cap company (having a market cap of Rs 12347.29 Crore) operating in Pharmaceuticals sector.

Sun Pharmaceutical Industries with a target price of Rs 1710. The current market price of Sun Pharmaceutical Industries is Rs 1540.3. Sun Pharmaceutical Industries Ltd., incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 369329.63 Crore) operating in Pharmaceuticals sector.

Grasim Industries: The company reported a 15.5% YoY rise in its Q4FY24 consolidated net profit at ₹2,721.81 crore, up from ₹2,355.67 crore in Q4FY23. The company’s revenue from operations also saw a 13% increase to ₹37,727.1 crore. The company’s EBITDA for Q4FY24 stood at ₹6,196 crore, marking a 27% growth YoY.

Gland Pharma reported fourth-quarter profit below estimates on Wednesday, as soaring employee expenses outweighed strong demand in its core markets. It reported a consolidated net profit of 1.92 billion rupees ($23 million) for the quarter ended March 31, missing analysts' average estimate of 2.41 billion rupees as per LSEG data.

Hyderabad: Indian drugmaker Sun Pharmaceutical Industries posted fourth-quarter profit above estimates on Wednesday, helped by strong performance in its key U.S. and domestic markets. The company reported a consolidated net profit of ₹2,655 crore ($318.9 million) for the quarter ended March 31, compared to analysts' average estimate of ₹2,368 crore as per LSEG data.

Hawaii's attorney general says a court has ordered the manufacturers and distributors of the blood thinner Plavix to pay the state a combined $916 million after finding the companies failed to disclose the efficacy and safety of the medication

Shares of Cipla Ltd.(up 2.73 per cent), Divi's Laboratories Ltd.(up 2.23 per cent), Laurus Labs Ltd.(up 1.97 per cent), Lupin Ltd.(up 1.42 per cent) and Aurobindo Pharma Ltd.(up 1.32 per cent) ended the day as top gainers in the pack.

Mankind Pharma Ltd.(up 1.74 per cent), Divi's Laboratories Ltd.(up 1.18 per cent), Biocon Ltd.(up 1.12 per cent), Cipla Ltd.(up 0.98 per cent) and Sanofi India Ltd.(up 0.92 per cent) were among the top gainers.

Aarti Drugs with a target price of Rs 536. The current market price of Aarti Drugs Ltd. is Rs 489.25. Aarti Drugs Ltd., incorporated in the year 1984, is a Small Cap company (having a market cap of Rs 4490.57 Crore) operating in Pharmaceuticals sector.

Delhi High Court has refused to direct all the medical professionals in the country to specify to the patient all possible risks and side effects associated with a drug, or a pharmaceutical product being prescribed. A bench of Acting Chief Justice Manmohan and Justice Manmeet Pritam Singh Arora dismissed a PIL filed by Kerala-based social worker Jacob Vadakkanchery, also a naturopath, seeking a mandate from the government that medical professionals should specify the side effects in an additional slip in the regional language along with the prescription. «Since the legislature in its wisdom has elected to impose this duty on the manufacturer and the pharmacist (to state about side effects), we do not find any ground for issuing a direction as prayed for in this PIL as it would amount to judicial legislation,» the HC said in its May 15 order. The judges noted that while Vadakkanchery had admitted there are safeguards under the existing law with respect to apprising the patient about the possible side effects of the prescribed drugs, the Drugs and Cosmetics Act 1945 obliges the manufacturer or its agent importing the drug to provide a package insert which shall duly disclose the side effects of the drugs to the consumer.

Patanjali found itself under the scanner of regulatory bodies and Supreme Court in the context of dodgy advertising practices. Welcome as this development was, the ayurvedic major is hardly alone in stretching the truth when it comes to advertising. While regulatory authorities must ensure that advertising adheres to ethical standards and doesn't mislead consumers, such scrutiny should be applied across the board. Every label coming out from FMCG, nutraceutical, cosmetic, pharmaceutical and wellness sectors must be properly checked by regulators. In this context, Supreme Court rightly pulled up the Indian Medical Association (IMA) last week for not taking action against Patanjali on complaints for the company's alleged 'misleading' claims and 'disparaging' ads against the allopathic system of medicine. Regulatory bodies should ensure that consumer goods are not allowed to introduce or sell their products in the market where the consumer assumes that products match what they are sold as — and, more importantly, that they are not sold as what they are not, especially by making disparaging comparisons.

FSN E-Commerce Ventures (Nykaa), ONGC, NTPC, Hindalco, Hindustan Copper, JK Lakshmi Cement, ITC, Sun Pharmaceuticals, and others. Also read: Week Ahead: US Fed chair speech, Q4 results, FII activity, global cues among key market triggers next week ONGC, Indian Railway Finance Corporation (IRFC), Bharat Electronics (BEL), Oil India, SAIL, Deepak Nitrite, Whirlpool of India, City Union Bank, Redtape, Power Mech Projects, Triveni Engineering & Industries, Chemplast Sanmar, India Cements, KRBL, Nesco, Rolex Rings, VRL Logistics.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today - May 18 Bank Nifty is likely to get support at 48,000, followed by 47,800. If the index advances, 48,300 would be the initial key resistance, followed by 48,500, analysts at Choice Broking said.

profit after tax (PAT) increased 43 per cent to Rs 126 crore in the March quarter, driven by strong sales. The drug maker had reported a PAT of Rs 88 crore in the March quarter of FY23. Revenue increased to Rs 862 crore in the fourth quarter as against Rs 762 crore in the year-ago period, JB Chemicals & Pharmaceuticals said in a statement.