SUN Financial News

Rahul Shah, V-P, Equity Advisory, MOFSL, says “it looks like markets will continue to do well. It does not look like a sell-off is imminent. Maybe, the market will shed 4-5% and then stabilise there and again, build it back to the game. We should continue to hold on with this opportunity and in a sell-off, one should participate.” From a financial market standpoint, is it time to move on? We see a lot of concerns going on globally. From India’s perspective, there are two-three things. The markets are still trading at reasonable valuations. Midcaps and smallcaps valuations are rich and largecaps have underperformed. From the overall market perspective, there’s no big negative. Also, it looks like it will be a good earnings season. My sense is largecap stocks will outperform midcaps and smallcaps might take a breather, but whenever we see the largecaps performing, midcaps and small caps also rally. But after the midcap and smallcap rally, It is time for the largecaps. Usually in an election year, just before the elections, the last 20-25 years’ data suggests that markets have rallied between 10% and 32%,.

Sanjiv Bhasin, Director, IIFL Securities, says “pharma is a proxy to a weak rupee and a stronger dollar becomes a very good alibi. Thirdly, the business is doing extremely well. So, Aurobindo, Lupin and Sun Pharma on declines could be a very good basket. More than that, if you cannot choose the stocks, better do a SIP in the likes of SBI or a Nippon fund. They have very good pharma funds which have got a basket of stocks. So, an ETF over there would be a very good idea if you want exposure into pharma.” What is your view on the pharma space? The latest note by Macquarie seems to be really advocating largecaps like Sun Pharma, Dr Reddy's, etc. But given the kind of move that we have already seen, what is your outlook on pharma at the current juncture? Pharma has been a darling of the market in the last two months after most people had written it off post Covid. But the results and the under-ownership, particularly of stocks like Auro Pharma and Lupin, which are two stocks which we have accumulated – a disclosure. We think that the largecap pharma is a very comforting space given that IT still has some of the headwinds, pharma as a proxy to a weak rupee and a stronger dollar becomes a very good alibi. Thirdly, the business is doing extremely well. So, Aurobindo, Lupin and Sun Pharma on declines could be a very good basket.

Sandip Sabharwal, asksandipsabharwal.com, says “OMCs have become uninvestable because of the price gaps which have been put on petrol, diesel prices. We do not know what profits will come as the free pricing regime has virtually effectively ended. I do not think these companies are investable. On the other hand, Oil India, ONGC etc are very inefficient companies. So some price uptick will lead to some uptick in stock prices, but they are more trading plays.” What is your outlook on how things are shaping up within the entire pharma space? Going by the valuations and the kind of domestic market growth that we have seen, are you being very selective when it comes to pharma? Yes, I am always very selective. Although some of the smaller pharma companies have done well, many of the smaller pharma companies do not have cash flows to support their valuation. I just try to stick to the larger ones. We have Sun Pharma as our core holding, Lupin as a contrarian bet, which we took a year-year and a half back. That is doing well. So these are the two holdings we have. But overall, pharma is still a reasonably under-owned space. So if the performance is improving, we could see the stocks do better.

solar eclipse will occur across North America on Saturday, Oct. 14.Unfortunately for Canadians, the eclipse — annular, not total, but more on that later — will track south of the border, though its sky-darkening effects will still be seen north of the 49th parallel.The eclipse’s path will start over the Pacific Ocean, west of Vancouver Island, then will track southeast.It will make landfall in Oregon, just below Portland around 9:15 a.m.

Jujutsu Kaisen Chapter 238 has left fans both awestruck and anxious as Mangaka Akutami introduces a pivotal character death and sets the stage for an epic showdown between Ryomen Sukuna and Yuji Itadori. In this action-packed chapter, we witness the unfolding of a battle and the tantalizing hints of Yuji's Cursed Technique.

To put this into perspective, the 'missing' sea ice measures approximately 386,000 square miles less than the previous record low recorded in 2022, which is larger than the land area of Egypt. As the southern hemisphere transitions into spring, the US National Snow and Ice Data Center (NSIDC) said in a statement that Antarctic sea ice had only reached a maximum size of 16.96 million square kilometers (6.55 million square miles) this year, on September 10. The ice pack typically reaches its largest size during the colder winter months, so the September 10 reading will likely remain this year's maximum. «This is the lowest sea ice maximum in the 1979 to 2023 sea ice record by a wide margin,» said the NSIDC, a government-supported program at the University of Colorado at Boulder. At its high-point this year, the sea ice was 1.03 million square kilometers smaller than the previous record, roughly the size of Texas and California combined. The vast glacial ice sheet of Antarctica and the ice covering the surrounding seas play a vital role in climate regulation. They act as a reflective surface, bouncing the sun's energy back into the atmosphere and space. In contrast, the dark surface of the ocean absorbs a significant portion of the sun's incoming energy. Therefore, a reduction in sea ice leads to higher temperatures, creating a self-reinforcing cycle that accelerates global warming.

Sun Pharmaceutical Industries and Aurobindo Pharma are recalling products from the US market due to manufacturing issues, according to the US Food & Drug Administration. As per the latest Enforcement Report issued by the American health regulator, a US-based subsidiary of Mumbai-based Sun Pharma is recalling 69,707 cartons of Cequa (cyclosporine ophthalmic solution) from the US market. The medication is used for the treatment of dry eyes.

Aditya-L1 spacecraft performed the Trajectory Correction Maneuver (TCM) on October 6 for about 16 seconds and now it is on its way to Sun-Earth L1. In a post on X (formerly Twitter), ISRO said, “The Spacecraft is healthy and on its way to Sun-Earth L1. A Trajectory Correction Maneuver (TCM), originally provisioned, was performed on October 6 for about 16 seconds." “It was needed to correct the trajectory evaluated after tracking the Trans-Lagrangean Point 1 Insertion (TL1I) maneuver performed on September 19.

Ahmedabad, where New Zealand emerged victorious, defeating the reigning champions, England, by nine wickets. However, the event was marred by an unexpected problem – the condition of the spectator seats. The colossal Narendra Modi Stadium, with a capacity of 1.33 lakh, is set to host the tournament's final match.

Relative Strength Index (RSI), a valuable indicator that helps assess the strength and potential direction of a stock's price movement. On October 5, Thursday, StockEdge identified four stocks that were in the overbought zone but exhibited bearish or declining RSI trends. Today, we'll delve into the significance of RSI and explore these four stocks that warrant attention. The Relative Strength Index, commonly known as RSI, is a momentum oscillator that measures the speed and change of price movements.

The woman responsible for developing next-generation small modular nuclear reactors for global energy giant Westinghouse says the “tide will turn” on the no-emissions technology in Australia, and a nuclear reactor could be in operation here by the late 2030s.

Also Read: World to witness four eclipse events this year, two will be visible in India An annular Solar Eclipse manifests as a partial blocking of the sun's light over a wide region on the earth's surface, spanning thousands of kilometres or miles. This particular annular Solar Eclipse is scheduled for Saturday, October 14, 2023, occurring just 4.6 days after the moon reaches apogee, its farthest point from the Earth.

Laurus Labs Ltd.(up 1.48 per cent), Aurobindo Pharma Ltd.(up 1.43 per cent), Alkem Laboratories Ltd.(up 1.24 per cent), Granules India Ltd.(up 1.24 per cent) and Sun Pharmaceutical Industries Ltd.(up 0.96 per cent) were among the top gainers. Natco Pharma Ltd.(down 0.42 per cent) were the top losers on the index.

MAGADHSUGAR(up 1.84%), DCM Shriram Industries(up 1.52%), Vishwaraj Sugar Industries(up 1.38%), Balrampur Chini Mills(up 1.26%), Simbhaoli Sugars(up 1.21%), EID Parry(up 1.15%), Triveni Engineering & Industries(up 1.02%), Rajshree Sugars & Chemicals(up 0.98%), BAJAJHIND(up 0.98%) and AVADHSUGAR(up 0.83%) were among the top gainers. Dalmia Bharat Sugar & Industries(down 0.39%) and Dhampur Sugar Mills(down 0.12%) were among the top losers.

Chicago Bears, Washington Commanders, Jacksonville Jaguars, Buffalo Bills, Cincinnati Bengals and others. The NFL matches will be live telecast on Prime Video, FOX, CBS, NBC, and ESPN in the US.

Chandrayaan-3, the mission to moon's south pole, a first of its kind, did not wake up again. Chandryaan-3’s Vikram lander and Pragyan rover did not wake up during the lunar day, which equals 14 Earth days. The Chandrayaan-3 was designed to survive one Lunar day or 14 Earth days.

Transformers and Rectifiers(India)(up 7.78%), Gujarat Industries Power(up 5.09%), Suzlon Energy(up 4.98%), Orient Green Power Company(up 4.69%), RTNPOWER(up 4.62%), Voltamp Transformers(up 4.22%), SJVN(up 3.71%), Karma Energy(up 3.35%), Jaiprakash Power Ventures(up 2.62%) and Inox Wind Energy(up 2.35%) stood among the top gainers. Power & Instrumentation(Gujarat)(down 4.04%), Alstom T&D India(down 3.12%), Adani Power(down 1.67%), JSW Energy(down 1.29%), ADANIGREEN(down 1.26%), GE Power India Limited(down 1.24%), Power Grid Corporation of India(down 1.21%), DPSC(down 0.90%), Kalpataru Projects International(down 0.87%) and Hitachi Energy India(down 0.71%) were among the top losers of the day.

Rama Phosphates(up 6.20%), KRISHANA(up 2.86%), Coromandel International(up 1.98%), Khaitan Chemicals & Fertilizers(up 1.65%), Sikko Industries(up 1.55%), Madhya Bharat Agro Products(up 1.36%), Fertilizers & Chemicals Tranvancore(up 0.97%), Nagarjuna Fertilizers & Chem(up 0.60%), National Fertilizer(up 0.57%) and Chambal Fertilisers & Chemicals(up 0.53%) were among the top gainers. Mangalore Chemicals & Fertilizers(down 1.54%), Agro Phos(down 1.42%), ZUARIAGRO(down 0.87%) and Gujarat Narmada Valley Fertilizers (down 0.13%) were among the top losers.

When Dirk Ruttens went shopping for a holiday home in Spain, he wasn’t interested in a cookie-cutter modern waterfront apartment or a traditional country finca. A veteran renovator and an aficionado of industrial architecture, Ruttens wanted a unusual building that he could transform into a distinctive family bolt-hole. He found his project in the form of a disused former chocolate factory in the small town of La Bisbal d’Empordà, in the Catalonia region of northeastern Spain.

In war, prepare for peace; in peace, prepare for war – Sun Tzu, author, 'The Art of War' I know that Warren Buffet’s favourite holding period is, forever. However most of us don’t have that kind of luxury as we have goals to fulfill. Also, ‘timing’ the market isn’t celebrated enough. On the contrary, almost looked down upon. So, here I am, asking you to do just that: ‘time’ the market. Humour me for a while. Why should you reduce your allocation into equity in general, and small cap in particular?

Natco Pharma Ltd.(up 0.66 per cent), Dr. Reddy's Laboratories Ltd.(up 0.55 per cent), Granules India Ltd.(up 0.54 per cent) and Pfizer Ltd.(up 0.41 per cent) were among the top gainers.