Lupin: Somerset warning implies regulatory environment may no longer offer relief
In its Indian business, Lupin is expected to remain steady due to a better mix and outperformance in chronic therapies
US inflation spike: A signal for repeat of taper tantrum?
While the decision on policy rate hikes or the withdrawal of quantitative easing is quite some time away, any talk of such a plan can still create jitters in financial markets
NOCIL: The end of capex cycle ups free cash flow prospects
Faster execution of the ‘China plus’ opportunity will be a trigger for rerating for NOCIL
HEG goes big on capacity, pins hopes on earnings recovery
HEG stock’s performance is contingent on the earnings cycle as realisations pick up
Sharda Cropchem: Domestic COVID disruptions no dampener for this value play
Localised COVID restrictions are unlikley to have any impact on Sharda Cropchem. Most of its sales as well as raw material sourcing are outside India where economic activities have almost normalised
Rossari Biotech: Expanding growth opportunities, but has the stock run its course in the short term?
We see Rossari Biotech as a worthy growth stock with exceptional earnings growth rates, but post 60 per cent jump in stock price from our note in October 2020, investors can take profit off the table
IPCA Labs: Strong margins to sustain even post-COVID opportunities
In spite of the extraordinary sales of Hydroxychloroquine in FY21, IPCA Labs expects a 9-10 per cent growth in topline for FY22
Aurobindo Pharma: US reopening, traction for COVID vaccine near-term growth opportunity
The most positive development for the last fiscal year has been a sharp reduction in leverage which positions Aurobindo Pharma for capex commitments in the API, vaccine and biosimilars space
Divi’s Labs: Vertical integration keeps it ahead of peers
The macro context is fragile, more so because of the second COVID wave. As a result, liquidity will continue to chase businesses such as Divi's Labs that are cash rich and have positive cash flows
Sun Pharma: Traction in speciality likely to sustain
Sun Pharma's key specialty products, particularly Ilumya (plaque psoriasis) and Cequa (dry eye disease), held up well
Cadila: All in for COVID while keeping a tab on complex pharma
Cadila's stock has been primed by a series of potential rollouts to meet the COVID challenge
Herd Immunity Tracker: Omicron wave has apparently 'peaked'
In Mumbai, gradual reduction in cumulative number of people hospitalised indicates that the strain on the health care system is easing out.
Balaji Amines: Execution lifts margin profile
Balaji Amines has upgraded its EBITDA margin guidance from the 20-22 per cent range to 24-26 per cent for FY22
Rain Industries: A play on global economy getting back to normalcy
Rain Industries' capex run rate dropped in Q1 CY21 versus the average quarterly spend in CY20. This helps in better free cash flow and facilitates debt reduction
Dhanuka Agritech: Still offers margin of safety
The Centre’s efforts to bring down import of oilseeds and pulses are key positives for Dhanuka. Additionally, the commencement of Dahej plant would enable backward integration as well as open export opportunities
SRF: Superior execution continues for speciality; add stock on decline
The bulk of SRF's capex allocation in the medium term is dedicated to chemicals to gear up its capacity to meet the revival in global demand in the next 2-3 years
Aarti Industries: Planning for a decade; accumulate
Aarti Industries' strong export market and a resilient pharma business should offset the discretionary demand contraction in domestic market in the near term
PI Industries: Next catalyst is the pharma opportunity
In the near to medium term, inorganic opportunity for PI Industries is the key trigger to keep track of
Gland Pharma: Vaccine opportunity to facilitate foray into biosimilars
Even after the contract with Sputnik V, it will have idle capacity available to pursue similar opportunities, including that of mRNA- platform-based ones.
Cipla — While COVID scope continues, watch out for FY23
Just when it seemed that Covid tailwinds are waning for Cipla, the drug maker has repositioned itself for the opportunities emerging from the second wave of the pandemic
Dr Reddy’s: COVID opportunity gets wings
Along with Sputnik V and 2-DG, Dr Reddys has further strengthened its COVID opportunity, which makes it a worthy watch
Herd Immunity Part 2: Is the race a sprint or a marathon?
In terms of Fauci’s estimated threshold (70 percent) for herd immunity, India might reach that goal by mid-November.
Lupin: Focus on inhalation and bio-similars to aid margins in medium term
In the medium term, the focus is likely to be on the inhalation and biosimilar categories for Lupin, with scale-up in both US and European markets
Herd Immunity Part 1: Why the markets are not feeling the pain of the second wave
With markets making a wild swing from despondency to euphoria last year, investors do not want to miss a recovery rally this time around and are exercising patience in the hope of a better second half
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