Stock market update: Nifty Pharma index falls 0.94% in a weak market
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NEW DELHI: The Nifty Pharma index traded negative around 10:20AM(IST)on Tuesday in a weak market.Gland Pharma Ltd.(up 0.92 per cent), Biocon Ltd.(up 0.91 per cent), J B Chemicals & Pharmaceuticals Ltd.(up 0.25 per cent) and Torrent Pharmaceuticals Ltd.(up 0.01 per cent) were among the top gainers.Sun Pharmaceutical Industries Ltd.(down 1.95 per cent), Lupin Ltd.(down 1.78 per cent), Natco Pharma Ltd.(down 1.4 per cent), Aurobindo Pharma Ltd.(down 0.91 per cent) and Zydus Lifesciences Ltd.(down 0.9 per cent) were the top losers on the index.The Nifty Pharma index was down 0.94 per cent at 21831.4 at the time of writing this report.Benchmark NSE Nifty50 index was down 65.85 points at 24880.65, while the BSE Sensex was down 210.76 points at 81585.39.Among the 50 stocks in the Nifty index, 14 were trading in the green, while 36 were in the red.Shares of Vishal Mega Mart, Vodafone Idea, RattanIndia Power, JP Power and YES Bank were among the most traded shares on the NSE.Shares of Federal Mogul, Subros, Steel Strips, Niraj Ispat Ind. and AXISCADES Engg Tech hit their fresh 52-week highs in today's trade, while Navkar Builders, Sadhana Nitro, Bluspring Enterprises Ltd., Shyam Century Ferrous and Kesoram Inds. hit fresh 52-week lows in trade.
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- Business Standard
Gland Pharma Ltd gains for third consecutive session
Gland Pharma Ltd is quoting at Rs 1793.5, up 1.28% on the day as on 12:49 IST on the NSE. The stock is down 2.51% in last one year as compared to a 5.44% spurt in NIFTY and a 9.39% spurt in the Nifty Pharma index. Gland Pharma Ltd is up for a third straight session in a row. The stock is quoting at Rs 1793.5, up 1.28% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.43% on the day, quoting at 24840.25. The Sensex is at 81449.59, down 0.42%. Gland Pharma Ltd has risen around 20.86% in last one month. Meanwhile, Nifty Pharma index of which Gland Pharma Ltd is a constituent, has risen around 0.24% in last one month and is currently quoting at 22039.45, down 1.59% on the day. The volume in the stock stood at 2.97 lakh shares today, compared to the daily average of 1.95 lakh shares in last one month. The PE of the stock is 26.75 based on TTM earnings ending March 25.
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Agencies So, if you factor that in, it is dependent on two parts, one is, of course, how well India does, but the second is how well India does relative to the S&P 500 to the US. "The earnings outlook which started moderating over the last 12 months has started to bottom. You are seeing that in the GDP numbers and therefore with the lag you will start also seeing that in earnings rebounding," says Shiv Puri, TVF Capital Advisors. What is the world looking like? It is just utter chaos, but it seems like there is some stability for equity markets. Shiv Puri: Yes, in the last few years I cannot think of many times where there has not been chaos in the global markets. But for the markets to do well typically it needs three things. One is, it needs free flowing credit. Second is, you need a strong earnings outlook and the third is, you need cheap valuations. And if you look at the story in India 12 months ago, all three were yellow or even red. 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But when you put all the pieces together, I still think it is two-and-a-half out of three or three out of four in terms of where we are. So, definitely, a better position than last year. You talked about as to how there is valuation comfort still when it comes to largecaps. Where do you see those stories play out and where is it that you are finding those outsized opportunities? Shiv Puri: Well, I think still there areas like, for example, private sector financial, especially the largecap names seem to be fairly reasonably priced at the moment and then again, if you look at some of the other sectors, valuations are always in context of what their durability and quality of the growth is going to be. So, it is magnitude, durability, and quality. And so, if you factor some of that in, there are a few other areas even in consumer discretionary, in healthcare, especially in some of the hospital names that I still think have a very long runway of growth where I see opportunity. 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