The market is expected to cool off a bit in the near-term after the recent rally. It is advisable to stick to large-caps and quality mid-cap names
In coming week any tick above 9,350 on Nifty Pharma index will trigger fresh buying in pharma stocks, Arpan Shah of Monarch Networth Capital said
The S&P BSE Sensex lost over 1200 points while for the Nifty the cut was a little over 400 points or 3.7 percent since September 28.
ICICI Direct recommended hold rating on Cipla with a target price of Rs 510 in its research report dated November 06, 2018.
"At the first stage closing, InvaGen or its affiliates will acquire, through the issuance by Avenue of new shares, shares representing a 33.3 per cent stake in Avenue's capital stock on a fully diluted basis for USD 35 million," Cipla said in a regulatory filling.
The Q2FY19 earnings season so far has been in line with the expectations. Strong results declared by IT companies, upbeat numbers from RIL and robust growth reported by the FMCG companies are indicative of sustained demand environment.
Valganciclovir tablets are used in the treatment cytomegalovirus infection (serious viral eye infection of the retina) in AIDS patients and in prevention of cytomegalovirus (CMV) disease after organ transplant.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 31 points or 0.29 percent. Nifty futures were trading around 10,591-level on the Singaporean Exchange.
In an interview with Moneycontrol, Kedar Upadhye, Global Chief Financial Officer of Cipla, talked about the company's strategy going forward.
Umang Vohra, Cipla's Managing Director, said some of the tender businesses are growing 40 percent lower than last year.
Brokerages such as HSBC, Credit Suisse and Citi have downgraded the stock based on the company’s guidance ahead.
The earnings before interest, taxes, depreciation and amortization (EBITDA) fell 13 percent year on year at Rs 702 crore from Rs 804 crore during the same quarter of last year.
Equity markets around the globe have been under pressure on account of trade war fears, interest rate hike and valuation concerns
The company has received final nod from the United States Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Metoprolol ER tablets in the strengths of 50mg, 100mg and 200mg, Cipla said in a BSE filing.
Cipla Medpro South Africa (Pty) Ltd has completed the acquisition of 100 percent stake in South African firm Mirren on October 22, 2018, Cipla said in a filing to BSE.
Experts feel that investors sitting on cash should buy into markets in a scattered manner instead of making a lump sum payment.
According to the latest report by IMF, India is poised to grow at 7.4 percent in 2018 and 7.8 percent in 2019, making it the fastest growing economy among peers overtaking China.
Net Sales are expected to increase by 8.8 percent Y-o-Y (up 12.7 percent Q-o-Q) to Rs. 4,440 crore, according to HDFC Securities.
Net Sales are expected to increase by 7.8 percent Y-o-Y (up 11.7 percent Q-o-Q) to Rs. 4,401.4 crore, according to Sharekhan.
Net Sales are expected to decrease by 1 percent Y-o-Y (up 2.6 percent Q-o-Q) to Rs. 4,042.4 crore, according to ICICI Direct.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 17.5 points or 0.17 percent. Nifty futures were trading around 10,282-level on the Singaporean Exchange.
We expect Nifty to mean revert towards critical moving averages which are placed around 10,700-10,800 levels (200-DEMA placed around 10,779).
Cipla has received approval from US Food and Drug Administration for Palonosetron Hydrocholride injectable, which is available in strength of 0.25 mg/5ml.