Pharmaceuticals Financial News

Stocks that traded heavily or had substantial price changes on Friday: Sweetgreen, Natera rise; Collegium Pharmaceutical, Akamai fall

India's Industrial Production (IIP) growth rate slowed to 4.9 per cent in March as against 5.7 per cent in February, revealed the data provided by the Ministry of Statistics and Programme Implementation (MoSPI) on Friday. The previous high of IIP was recorded at 11.9 per cent in October 2023, which slowed to 2.5 per cent in November, 4.2 per cent in December and 4.1 per cent in January 2024. The cumulative growth rate for the period of April-March 2023-24 over the corresponding period of the previous year stood at 5.8 per cent.

₹63 to ₹67 per equity share of face value of ₹10 each. There are 2,000 shares in each IPO lot. 2,000 equity shares is the minimum application size; beyond that, applications will be accepted in multiples of 2,000 equity shares.

generic drugmaker Alembic Pharma reported a 17% rise in fourth-quarter profit on Thursday, driven by strong sales, especially in the key North American market. Consolidated profit rose to 1.78 billion rupees ($21.3 million) in the three months ended March 31, from 1.53 billion rupees a year earlier.

Q4 results today on May 9: At least 40 companies will announce their financial results for the fourth quarter of FY24 today, Thursday, May 9. Also Read | Q4 results: L&T, Tata Motors, SBI, TVS Motors among companies to declare earnings this week; check full list here The fourth quarter earnings season for this fiscal year kicked off in the second week of April 2024 and is still underway, with over 260 companies set to declare their Q4 results this week.

Shares of Biocon Ltd.(up 4.06 per cent), Zydus Lifesciences Ltd.(up 2.53 per cent), Ipca Laboratories Ltd.(up 1.79 per cent), Laurus Labs Ltd.(up 1.09 per cent) and Aurobindo Pharma Ltd.(up 1.05 per cent) ended the day as top gainers in the pack.

Dr Reddy’s Laboratories: The pharmaceutical company reported a net profit of ₹1,307 crore for Q4FY24, a 36% year-on-year increase, primarily driven by strong performance in the US market. The company's revenue increased to ₹7,083 crore during the quarter, a 12% year-on-year growth. For the full year FY24, DRL reported a net profit of ₹5,568.4 crore, a 36% increase, and total revenues of ₹27,920 crore, up 14% on year.

Shares of Gland Pharma Ltd.(up 0.43 per cent) ended the day as top gainers in the pack.

Stocks that traded heavily or had substantial price changes on Monday: BioCryst Pharmaceuticals, Freshpet rise; Luminar, Integra fall

ALSO READ: Fed's Powell says looming US election will not sway rate decisions On May 7 (Tuesday), a report on consumer credit for March will be released by the US central bank. May 10 (Friday) will see the release of data on preliminary consumer sentiment for May. Following companies are due to report quarterly earnings in the week ahead—Tyson Foods, Vertex Pharmaceuticals, Palantir, Realty Income, Disney, McKesson, Ferrari, GlobalFoundries, Coupang, Electronic Arts, Rivian Automotive, Datadog, Uber Technologies, Anheuser-Busch InBev, Airbnb, Shopify, Arm, Energy Transfer, Trade Desk, Beyond Meat, Affirm, AMC Entertainment, Warner Bros.

Hero MotoCorp, Larsen & Toubro (L&T), Bharat Petroleum Corp Ltd (BPCL), Hindustan Petroleum, State Bank of India (SBI), Eicher Motors, and Tata Motors are among the prominent names on the roster. Godrej Consumer Products, CG Power and Industrial Solutions, Lupin, Indian Bank, Marico, Gujarat Fluorochemicals Limited, Grindwell Norton, DCM Shriram, Happiest Minds Technologies, Route Mobile, Arvind, Prudent Corporate Advisory Services, Choice International, Fusion Micro Finance, Gujarat Heavy Chemicals, Muthoot Microfin, The Bombay Dyeing Co., CarTrade Tech, Arvind SmartSpaces, Moschip Technologies, Styrenix Performance Materials, Suven Life Sciences, Apcotex Industries, Aeroflex Industries, Punjab Chemicals & Crop Protection, Kamdhenu, Automotive Stampings and Assemblies, Uttam Sugar Mills, ALLSEC Technologies, Selan Exploration Technology, GHCL Textiles, Orbit Exports, Indian Bright Steel Company, Chemcrux Enterprises, KPT Industries, Alphalogic Industries, Capital Trade Links, Syschem (India), Indian Acrylics, Smruthi Organics Limited, Evexia Lifecare, Gujarat Toolroom, Asarfi Hospital and others.

₹16.09 for Q4 which increased by 68.63% Y-o-Y. Ajanta Pharmaceuticals has delivered 4.7% return in the last 1 week, 22.16% return in the last 6 months, and 7.22% YTD return.

NEW DELHI : The Union government has become the sole authority for issuing manufacturing licences for new drugs meant for exports, withdrawing the power from state governments amid heightened global scrutiny of Indian made drugs. The sole licensing authority from now on will be the Central Drugs Standard Control Organisation (CDSCO), India's apex drug regulatory body.

NEW DELHI : The government is exploring new pricing strategies for the medical device industry and also looking at specific regulations to streamline the licensing, trading, and exporting processes for manufacturers, according to officials familiar with the situation. Medical device licences are currently categorized under the Drugs and Cosmetics Act, and industry associations have long advocated for specific regulations, arguing that the criteria for drug licensing are not suitable for medical devices.

India and Nigeria have identified areas such as crude oil, natural gas, pharmaceuticals, Unified Payments Interface (UPI), local currency settlement system, and power sector to increase cooperation for boosting economic ties. The commerce ministry on Friday said that these issues among others were discussed during a recent visit of a seven-member delegation from India to Nigeria. The delegation was led by Additional Secretary, Department of Commerce, Amardeep Singh Bhatia. The Indian delegation consisted of officials from Reserve Bank of India (RBI), EXIM Bank of India and National Payments Corporation of India (NPCI), the ministry said in a statement.

Bank Nifty was down by -130.95(-0.27%) at 03 May 2024 10:44:53 IST.In the BSE Sensex index Bajaj Finance, Bajaj Finserv, Tata Steel, NTPC, Sun Pharmaceutical Industries were the top gainers while Bharti Airtel, Larsen & Toubro, Nestle India, Maruti Suzuki India, Hindustan Unilever were the top losers.In the Bank Nifty index Bank Of Baroda, ICICI Bank, Indusind Bank, Au Small Finance Bank, were the top gainers while Federal Bank, Punjab National Bank, Bandhan Bank, HDFC Bank, Axis Bank were the top losers.For the complete list of 52 week high stocks click here. Milestone Alert! Livemint tops charts as the fastest growing news website in the world

Torrent Pharmaceuticals Ltd.(up 3.61 per cent), Natco Pharma Ltd.(up 2.46 per cent), Lupin Ltd.(up 1.87 per cent), Dr. Reddy's Laboratories Ltd.(up 1.03 per cent) and J B Chemicals & Pharmaceuticals Ltd.(up 0.82 per cent) were among the top gainers.

Ajanta Pharma, a specialty pharmaceutical formulation company, witnessed a 13.70% surge in its shares during morning trade today, reaching a new all-time high of ₹2,540 apiece. This surge follows the company's stellar performance in the quarter ending March and for the full fiscal year. On Thursday, after market hours, the company released its financial results, reporting a 66% YoY jump in its consolidated net profit of ₹203 crore for Q4FY24.

Abhijit Chokshi, Founder, Stockifi.in, says that in the midcap space, he likes Aarti Pharmaceuticals. One of their products is APIs for caffeine and they are one of the top three players in that and the market cap right now is barely Rs 4,000-5,000 crore. He says both Aarti Pharma and Aarti Surfactants will do really well going forward. In terms of the result reactions that we have seen of late – be it Federal Bank today, the South Indian Bank numbers and the other names as well the entire stock equity ecosystem including the KFin Technologies of the world – did anything stand out from financials and stock market ancillaries? Abhijit Chokshi: I am betting mainly on PSU banks. Even though there is a lot of buzz that PSU banks are done with their rally, I believe banks like SBI, PNB will continue the rally going forward. I am expecting numbers to improve for these PSU banks. I am generally bullish on the PSU sector and specifically want to focus on banks. PNB and SBI are my picks.

Hedge funds are turning increasingly defensive as uncertainty around geopolitics and the path of interest rates, as well as the stock market’s April swoon, has investing pros spooked.

gloves, which are getting dumped in the country from Southeast Asian countries like Malaysia and Vietnam, people aware of the development told ET. The meeting to be held by the department of pharmaceuticals (DoP) will discuss bringing surgical gloves and single-use medical examination gloves under the quality control order (QCO) to ensure better standards for these products whether imported or manufactured in the country, sources said. At present, these gloves are not regulated properly, resulting in import of substandard gloves rejected in other countries. Senior officials from the textiles department, the country's drug regulator, the Bureau of Indian Standards (BIS), and industry associations will attend the meeting. They will discuss issues of importers procuring substandard gloves at prices lower than the manufacturing cost of medical/surgical gloves and dumping of cheap rubber gloves from countries like Malaysia and Vietnam, sources cited above said.