COMPANIES
Lupin and peers run into US FDA headwinds again
Lupin’s shares fell after an FDA inspection led to its US unit being issued an adverse warning. Other pharma companies too have tripped on inspections, raising fears that compliance issues are very much alive for the industry
COMPANIES
Comment | Nestle: royalty to stay at 4.5%, free cash flow rises
Nestle decides to keep its royalty constant at 4.5%. That will be a relief for investors who were fearing an increase. Its 2018 annual report shows that cash flows are rising and are healthy but working capital is showing some strain
SECTOR
Comment | NCLT’s ArcelorMittal-Essar Steel order: critical loose ends remain
NCLT order on ArcelorMittal’s resolution plan for Essar Steel highlights dependence on Essar Group’s infrastructure and seeks continued access. Also cites Wednesbury Principle to ask for a more equitable distribution to all creditors.
BUSINESS
Comment | Copper uptrend supports an EM bull case, barring one risk factor
Copper’s rise supports a bull case for EM equities but these forecasts rest on one country not upsetting the apple cart
BUSINESS
Comment | ArcelorMittal - Essar Steel: winners, losers and the in-betweens
ArcelorMittal’s resolution plan for Essar Steel is set to bring the curtains down on a high profile case in the insolvency process. Who won, who lost?
BUSINESS
ArcelorMittal’s Essar Steel acquisition: an 800-pound gorilla enters the market
ArcelorMittal's acquisition of Essar Steel is a risk for domestic steel producers, as the global giant gets a ready asset in one of the largest and fastest growing markets for steel in the world
BUSINESS
Comment | Cipla takes a calculated risk with generic Sensipar launch
Cipla’s launch of a blockbuster drug made by Amgen even while litigation is ongoing is a risky affair. Here’s why Cipla may have taken a calculated risk
BUSINESS
Comment | US FDA to get a new chief, watch for side effects on pharma shares
The US FDA has been driving generic drug approvals under its current commissioner. His resignation raises a question mark on whether life could change for Indian pharmaceutical companies
BUSINESS
Comment | The rise and rise of Patanjali in oral care
Patanjali’s threat has been downplayed by the Street in recent years, as its performance has faltered and its competitive streak appears more subdued. Don’t write it off just yet, says the data
BUSINESS
Comment | Sugar loans: a soft touch to clear cane arrears
The government’s decision to give subsidized loans to sugar mills is designed to solve the politically sensitive issue of cane arrears in the run-up to elections
BUSINESS
Comment | Merck’s dividend gift is extra special for P&G
Merck’s Rs440 a share special dividend is good news for investors but more so for its new parent P&G. After the dividend, life for investors will return to mundane things such as performance-driven valuations
BUSINESS
Comment | Real estate GST rate cuts don’t go far enough
Investors were looking forward to a cut in GST on under-construction properties, to spur real estate sector growth. What the government gave with one hand, the other took away
BUSINESS
Comment | The Baltic Dry Index is capsizing
The Baltic Dry Index has fallen sharply after the Vale dam incident in 2019 and also due to global developments that have affected trade
BUSINESS
Comment | Dr Copper signals an improving economic outlook in 2019
Copper prices have risen sharply in 2019 partly due to tight supply conditions. It may also be a pointer to improving economic conditions
BUSINESS
Dr Reddy’s Suboxone launch: Why investors shrugged it off
Dr Reddy’s generic Suboxone launch is set to be a reality. A much-awaited event, a mounting threat from competitors may limit its benefits
BUSINESS
Comment | Sugar minimum price: small carrot, big stick
The increase of Rs 2 per kg in the minimum selling price of sugar is much less than what the industry wanted but even this comes with strings attached. The government wants cane arrears cleared.
BUSINESS
100-Word Take | Dr Reddy's: Slipping on familiar ground
Dr Reddy’s investors baulked after news that an inspection by the US FDA found four repeat observations.
BUSINESS
Comment | Bhushan Power adds heft to JSW Steel, deal structure holds the key
Bhushan Power adds to JSW Steel’s domestic capacity but will the latter settle for a minority stake again?
BUSINESS
Comment | Tata Steel-Thyssenkrupp: Drawing a line in the sand
Tata Steel’s joint venture with Thyssenkrupp is a much anticipated event but it needs to clear the EU’s anti-trust hurdle. An update is due this week.
MUTUAL-FUNDS
Comment | What falling equity MF inflows mean for investors and markets
Gross inflows high, but so are redemptions.
BUSINESS
Comment | Imports may cease to bother steel producers if iron ore continues its upward march
Steel producers have asked for a hike in import duties, to protect the domestic industry. Help may be at hand. Iron ore prices have been rising sharply, due to Vale’s regulatory issues. Eventually, steel prices will too, giving steel producers relief.
BUSINESS
Comment | Global food prices staying up is a risk to RBI’s benign inflation outlook
The FAO's food price index rose in January, taking it back to its September levels. Rising food prices could mean good news for the farm economy but is a problem for policymakers if inflation takes root
BUSINESS
Comment | Investors fear Vedanta’s Anglo American detour may only be a trailer
Vedanta’s investors fear that their company may become an investment vehicle for the group’s global ambitions and the effect that could have on its financials
BUSINESS
Opinion | A sting in the FMCG tale
Expensive valuations of FMCG companies make them vulnerable to even small shocks. The implementation of the revised FDI guidelines by e-commerce companies could disrupt sales growth in the near term.
