&w=3840&q=100)
Sun Pharma shares rise 2% on US launch of hair loss drug after settlement
The Pharmaceutical firm's stock rose as much as 1.68 per cent during the day to ₹1,710.8 per share. The stock pared gains to trade 1.26 per cent higher at ₹1,703.8 apiece, compared to a 0.53 per cent advance in Nifty 50 as of 11:24 AM.
Shares of the company gained for the third-straight day and currently trade at 2.4 times the average 30-day trading volume, according to Bloomberg. The counter has risen 9.5 per cent this year, compared to a 6.5 per cent advance in the benchmark Nifty 50. Sun Pharma has a total market capitalisation of ₹4.09 trillion.
Sun Pharma launches hair loss drug
The pharma major launched Leqselvi in the US, a new medicine for severe alopecia areata -- a condition in which the immune system attacks hair follicles, leading to hair loss on the scalp as well as other parts of the body.
The delay in Sun Pharma's launch of Leqselvi in the US was caused by a patent infringement case, which was later settled in a US court with Incyte Corp.
The drug underwent two clinical trials, THRIVE-AA1 and THRIVE-AA2, involving 1,223 adults between 18 and 65 years of age. The trials were conducted in the US, Canada, and Europe. Sun Pharmaceutical is also offering a 'Leqselvi Support Program' to help patients access the medicine.
Hair regrowth was measured over a period of 24 weeks using a scoring system known as the Severity of Alopecia Tool (SALT), according to the company's statement. 'Leqselvi is an important step forward for people living with severe alopecia areata,' said Richard Ascroft, CEO of Sun Pharma North America.
Elera Capital estimates that Leqselvi could become a $200-300 million opportunity over the next 3-5 years, potentially emerging as Sun Pharma's second-largest product after Ilumya. The brokerage retains an Accumulate rating on the pharma company, with a target price of ₹1,871 per share. It flagged adverse US trade tariffs as a key near-term risk.
Sun Pharma Q4 results
Sun Pharma reported a 19 per cent year-on-year decline in consolidated net profit for Q4FY25, coming in at ₹2,149.8 crore. However, revenue from operations rose 8 per cent to ₹12,958.8 crore for the quarter. Excluding exceptional items, adjusted net profit stood at ₹2,889.1 crore, marking a 4.8 per cent increase.
For the full financial year FY25, net profit grew 14 per cent Y-o-Y to ₹10,929 crore, while revenue increased 8 per cent to ₹52,578 crore.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
17 minutes ago
- Business Standard
IndoStar Capital shares rise 6% on selling housing unit for ₹1,705 crore
Shares of Indostar Capital Finance rose nearly 6 per cent on Friday after it completed the sale of its wholly owned subsidiary to a global private equity investor for ₹1,705.95 crore. The Non Banking Financial Company (NBFC) stock rose as much as 5.9 per cent during the day to ₹332.7 per share, the biggest intraday rise since May 23 this year. The stock pared gains to trade 2.6 per cent higher at ₹322 apiece, compared to a 0.66 per cent decline in Nifty 50 as of 10:45 AM. Shares of the company snapped a two-day losing streak and currently trade at 5.8 times the average 30-day trading volume, according to Bloomberg. The counter has risen 18 per cent this year, compared to a 5.5 per cent advance in the benchmark Nifty 50. Indostar Capital has a total market capitalisation of ₹4,361.24 crore. IndoStar Capital completes sale of Niwas Housing Finance The NBFC on Thursday said it completed the sale of its wholly owned subsidiary, Niwas Housing Finance Private Limited (formerly IndoStar Home Finance), to WITKOPEEND B.V., an affiliate of BPEA EQT Mid-Market Growth Partnership. The deal has fetched IndoStar a total consideration of Rs 1,705.95 crore, it said in an exchange filing. The company said it will use the net proceeds from the transaction to accelerate value creation in its core business verticals, Vehicle Finance and Small Business Loans. "The completion of the transaction represents a significant milestone in IndoStar's journey," according to Randhir Singh, managing director and executive vice chairman of IndoStar. "It further enhances our liquidity and capital position and enables us to accelerate our profitability and value creation journey in our focus verticals." IndoStar Capital Q4 results The company's standalone net profit rose 2.6 per cent to ₹36.19 crore in Q4 March 2025, compared with ₹35.27 crore in Q4 March 2024. Revenue declined 4.7 per cent year-on-year (Y-o-Y) to ₹372.56 crore from ₹390.72 crore in the same period. About IndoStar Capital IndoStar is a non-banking finance company (NBFC) registered with the Reserve Bank of India (RBI), classified as a middle-layered NBFC. With Brookfield & Everstone as co-promoters, IndoStar is a professionally managed and institutionally owned entity engaged in providing used and new commercial vehicle financing and small business loans in tier 3 and tier 4 towns.
Mint
17 minutes ago
- Mint
Shares to buy for the short term: Ajit Mishra of Religare Broking suggests THESE 3 stocks to buy today
Shares to buy for the short term: The Indian stock market has been lacklustre over the last few sessions. The benchmark Nifty 50, after falling 0.40 per cent in the previous session, dropped almost 1 per cent to hit an intraday low of 24,931.40 during the session on Friday, July 18, looking set to extend losses to the third consecutive week. Ajit Mishra, SVP of research at Religare Broking, pointed out that global uncertainty and a muted start to the Q1 earnings season are weighing on investor sentiment, even though sustained liquidity inflows are helping to cushion the downside. "The current divergent trend, while the benchmark index is under pressure, is mainly due to weakness in heavyweight IT stocks. At the same time, rate-sensitive sectors like auto, realty, and select banking, along with continued interest in defensives like FMCG and pharma, are not only limiting the losses but also offering ample long-side trading opportunities. The resilience in the broader market further adds to this positive undertone," said Mishra. "We recommend aligning positions accordingly, with a focus on stock selection and risk management, as the current market tone is likely to persist," Mishra said. Mishra suggests buying shares of ITC, Hero MotoCorp, and CG Power and Industrial Solutions, for the short term. After a prolonged period of underperformance, the FMCG sector is showing signs of revival, and ITC is trading in sync with the move. The stock has formed a strong base near the ₹ 415 support zone and has recently reclaimed its 200-day EMA, indicating a shift in long-term sentiment. This technical development, along with the stock trading above its key short-term moving averages, suggests a bullish structure. Moreover, ITC has shown relative outperformance against both the broader market and select FMCG peers, signalling increasing interest. 'Volume patterns indicate steady accumulation, adding confidence to the ongoing move. The broader sectoral strength, combined with ITC's favourable technical setup, makes it a compelling candidate for fresh long trades,' said Mishra. ITC technical chart Hero MotoCorp is displaying strong signs of a bullish reversal after a prolonged corrective phase. The stock initially witnessed a sharp decline but has since formed a classic rounded bottom pattern between the ₹ 3,400– ₹ 4,600 zone. "The stock is currently consolidating near the upper end of this reversal range, with the 20-day EMA providing consistent support, and volumes indicating steady accumulation. A decisive breakout above ₹ 4,600 would confirm the reversal and open the path for a sustained rally," said Mishra. From a sectoral perspective, the auto space is gaining momentum as part of the rate-sensitive pack, and Hero MotoCorp is well-positioned to capitalise on this trend. 'The overall chart structure remains constructive, and as long as the ₹ 4,200 support zone is intact, traders may consider initiating fresh long positions for potential upside,' said Mishra. Hero MotoCorp technical chart CG Power has convincingly ended its corrective phase, as evidenced by a breakout above the falling trend line and a shift from a lower-high, lower-low structure to a base formation around the ₹ 665– ₹ 710 zone. This prolonged consolidation phase, supported by price stability and the 20-day EMA acting as dynamic support, signalled strong accumulation. The stock has since resumed its upward momentum, breaking out from this accumulation zone with a surge in volumes, indicating renewed buying interest. Importantly, this move aligns with the neckline of the earlier breakout zone and is supported by a confluence of key moving averages, adding strength to the bullish structure. The recent breakout from the buying pivot confirms the end of consolidation and marks the beginning of a fresh leg of the uptrend. 'Given the technical setup and strong volume action, traders may consider fresh long positions as per the mentioned levels,' said Mishra. CG Power technical chart Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
Mint
20 minutes ago
- Mint
Billionaire Scion Pays $19 Million for Singapore Bungalow
(Bloomberg) -- A granddaughter of the late Indonesian billionaire Eka Tjipta Widjaja has purchased one of Singapore's highly coveted bungalows for S$25 million ($19 million). Mimi Yuliana Maeloa bought the house covering almost 767 square meters (8,256 square feet) on Chatsworth Avenue, according to a property filing in late June seen by Bloomberg News. The house is near the country's main Orchard Road shopping belt. Maeloa, a Singapore citizen, is the daughter of Sukmawati Widjaja, also known as Oei Siu Hoa. Widjaja is one of the children of the late tycoon, who built a multi-billion dollar empire with businesses spanning paper and pulp to financial services before his death in 2019. Maeloa formerly worked at investment banks including Goldman Sachs Group Inc., and has been a director since 2010 at Top Global Ltd, one of the property firms run by her clan. She's also the director of a family office registered in 2022, known as SW Global Management Pte, according to corporate filings seen by Bloomberg News. The bungalow is being sold by Raymond Phee, who's the chief executive officer of a local distributor of electrical appliances and stationery among various other roles, according to property and corporate filings. Maeloa and Phee didn't respond to requests for comment. The home is located in a so-called good class bungalow area, designated for opulent mansions. There are only about 2,800 of these properties, making them highly sought after by the ultra rich. Foreigners face major hurdles to acquire them, including a need for government approval. Some homes can fetch eye-watering prices. A mansion in Tanglin Hill sold for S$93.9 million earlier this year to a Malaysian banking scion. That set a new record of S$6,197 per square foot, more than twice the rate for the Chatsworth property. More stories like this are available on
