At close, the Sensex was up 329.06 points or 0.40 percent at 81,635.91, and the Nifty was up 97.65 points or 0.39 percent at 24,967.75. About 1830 shares advanced, 2169 shares declined, and 178 shares unchanged.
At close, the Sensex was down 693.86 points or 0.85 percent at 81,306.85, and the Nifty was down 213.65 points or 0.85 percent at 24,870.10. About 1695 shares advanced, 2205 shares declined, and 144 shares unchanged.
Divis Laboratories share price: Entresto is considered a cornerstone of Divi’s innovator-driven custom synthesis portfolio, contributing close to 40 percent of the segment’s revenue.
While pricing erosion remains a challenge for generic APIs, new opportunities for generic molecules will unfold in FY26. A lot of drug developments held up during COVID-19 are now getting fast-tracked
Divi's Labs delivered well rounded earnings growth in Q3, beating expectations on all major parameters--profit, revenue and profitability.
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Analysts at Citi are not too concerned as they believes that even while the passage of the Biosecure Act appears to have been delayed, its thesis remains intact for Divi's Labs.
The US Biosecure Act seeks to limit the dominance of Chinese players in the US biotech industry, creating new opportunities for Indian companies to expand their presence.
Citi remains bullish over Divi's expanding portfolio in its contrast media business, seeing the company as structurally as well as tactically well-positioned.
The pharma major's EBITDA rose almost 50 percent to Rs 716 crore.
Selling in the last hour of trade pulled the Nifty and Sensex sharply off its day's high to close near the flatline.
Citi sees Divi's Labs as the key beneficiary of the trend toward supply chain diversification. As a result, they became the first brokerage to forecast that the drugmaker's stock would surpass the Rs 6,000 mark.
API prices have remained under pressure for the past two years on the back of inventory destocking from Chinese companies post-COVID.
The low base of the last fiscal and strong sales in the custom synthesis segment helped drive profit and revenue growth for Divis.