A new report by Kotak Institutional Equities suggests that investors may be underestimating the threat posed by generic drugs to the ‘branded generics’ business of leading Indian pharmaceutical companies. The report highlights that current implied valuations of around 30-40x FY2025 EPS for most major pharma firms assume a relatively benign 10-11% growth in the Indian […]
Opportunities for making money in the current equity markets in India are ‘limited’ given expensive valuations across sectors and potential risks of earnings-downgrades, Kotak Securities’ Private Client Group warned in its monthly update. “The future for the markets may not all be all rosy with headwinds arising also from international shores with the U.S. Fed […]
Equity research firm Systematix Institutional Equities has initiated coverage on pharmaceutical major Pfizer Ltd with a “Buy” rating and set a target price of Rs 4,954, indicating an upside potential of around 30% from current levels. The broking house said the recent slowdown in Pfizer Inc’s Indian subsidiary was due to temporary factors and its […]
HBL Power Systems is well placed to o ride surging demand for batteries in railways, industrials and defence sectors, and the stock should Rs 322 in 6-9 months, said the broker
Maruti Suzuki Ltd, India’s largest auto maker, reported robust numbers for August, as it consolidated its recently acquired status as India’s top SUV maker. The company’s total vehicle sales for August rose 14.5% on the year to 1.89 lakh vehicles, led by strong sales of SUVs. The automaker, which recently launched the much-awaited 4-wheel drive […]
Screenwriter Kriti Kapoor, who has served as assistant director on films like ‘Airlift’, ‘2 States’, and ‘Blood Money’, is making her directorial debut with the film ‘Sorry Not Sorry’. The upcoming comedy-drama produced by Mohaan Nadaar’s Teamo Productions revolves around a small-town girl who gets caught up in the world of social media fame and […]
Income Tax Department said it has revamped its website, soon after implementing mega changes to the income tax e-filing website, incometax.gov.in. The new website, which will be available on incometaxindia.gov.in, has been designed with a user-friendly interface, value-added features, and new modules, the Central Board of Direct Taxes said. “This website serves as a comprehensive […]
Vetri Subramaniam, the chief investment officer of UTI Asset Management Company, said the United States may be seeing a ‘regime change’ in terms of interest rate policy under which the US Federal Reserve may keep its rates higher on a long-term basis. This will, in parallel, be accompanied by fiscal policies — such as enhanced […]
The Center has kept the quantum of rice to be procured in the current monsoon (Kharif) season at roughly the same as last year, while the quantum of millets to be procured has shown an increase. The Food Corporation of India (FCI) and state government agencies are preparing for the procurement of 521.27 lakh metric […]
Brigade Enterprises said it has acquired a plot of Rs 139 crores from Pfizer Healthcare India Ltd in Chennai to build a residential project. The 6.54 acre land-plot has been acquired in Sholinganallur, on the Old Mahabalipuram Road. “We will be developing a residential project on this land parcel with an overall development of over […]
GTPL Hathway, the country’s single largest cable feed provider, said it has tied up with France-based Verimatrix to deploy its video content authority system — a software solution that helps GTPL stream video content to its Android TVs securely. The moves comes as GTPL Hathway ramps up its Android TV box-based service. The company started […]
The three main state-owned oil refining and marketing companies have so far lost $2.25 bn (Rs 17,000 cr) due to the freeze on petrol and diesel price imposed by the government ahead of state elections in Uttar Pradesh, Punjab and Goa, according to a report by Moody’s. The rating agency pointed out that Indians are […]
Brigade Group, a Bangalore-based real estate developer, announced its entry into plotted development or the villa space, responding to post-COVID changes in the market. The company said it plans to announce several gated community villa projects in the coming months. It will start off with a 66-acre project in Devanahalli, near the Bangalore airport, on […]
State-owned oil companies such as Indian Oil, Bharat Petroleum Corporation and Bharat Petroleum are facing an under-recovery of Rs 12-15 per liter of petrol and diesel sold in the market, and may have to raise selling prices by around Rs 30 per liter to plug the under-recovery, according to industry sources. These companies had last […]
The relentless selling of stocks by foreign institutional investors or FIIs is likely to ‘taper off’ by the end of the current month, according to an analysis of FII fund flows into India by Maximus Securities Research. “The FII selling is expected to taper off by end of March’22, After which we expect normal market […]
Alembic Pharmaceuticals said it received tentative approval from the US Food & Drug Administration to launch a generic form of blood pressure tablet Opsumit. The tablet, including generic forms such as macitentan, is one of the bigger sellers in the market with estimated annual sales of $797 mn. Most of the generic drugs sold by […]
ICICI Bank is emerging as a strong challenger for long-time leader HDFC Bank in India’s credit card market, thanks to strong take-up for its co-branded card with Amazon, according to an analysis of RBI’s January numbers. ICICI Bank accounted for 2.41 lakh of the 13 lakh new credit cards added in January 2022. With this, […]
Info Edge Ltd, the parent of Naukri.com, has bought a 76% stake in dating app maker Aisle Network Pvt Ltd for Rs 91 cr. Aisle Network operates several dating websites, such as Aisle, Anbe, Arike and HeyDil, catering to various languages and states such as Malayalam, Hindi and Tamil. The company is based in HSR […]
Bharti Airtel, formerly India’s No.1 telecom operator, said it has acquired a 4.7% stake in India’s largest tower company Indus Towers from Britain’s Vodafone Plc. The company is likely to have paid around Rs 2,650 cr for the stake, going by the current valuation of the tower company. It said the money it pays to […]
Tata Motors, India’s second biggest automaker, is on track to set another monthly record in terms of passenger auto sales in February, even as market leader Maruti Suzuki will continue to see a year-on-year decline, according to Emkay Research. The third major listed automaker, Mahindra & Mahindra is also scheduled to report a strong February […]
