<keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="6354813" type="General" weightage="20" keywordseo="Nifty" source="Orion">Nifty</keyword> opened the day in greens, with Sensex inching up over 880 points to trade at 79,786.29, while Nifty trading at 24,388.20, up by 1.12% as of 9:30 am on August 8th, 2024. Eicher Motors and ONGC were up by over 3% each, while Tech Mahindra, LTI Mindtree, and HCL Tech gained over 2% each in morning trade today. On the other hand, HDFC Life and Cipla were amongst the leading laggards. All broad market indices opened the day in green and swiftly made gains of around 1% each, with the exception of India VIX, which tumbled over 5%. IT, metal, realty and oil and gas, which had witnessed a correction yesterday, quickly rebounded to gaining over 1% each in early trade. As Aditya Gaggar, director of Progressive Shares notes, "GIFT Nifty indicates a strong opening of the Indian equities around the higher end of the consolidation i.e. 24,330, and now the sustainability at the higher levels will be the key factor to watch out for. If the index surpasses the immediate hurdle then the ongoing momentum will push the Index higher towards 24,550". "The stocks from the <keyword id="20350923" type="General" weightage="20" keywordseo="Pharma-space" source="keywords">Pharma space</keyword> have performed as per our expectations, boosting our confidence to remain bullish (<keyword id="21563520" type="General" weightage="20" keywordseo="Alkem-Labs" source="keywords">Alkem Labs</keyword>, Ipca Labs, and <keyword id="20825787" type="General" weightage="20" keywordseo="Natco-Pharma" source="keywords">Natco Pharma</keyword>). We will continue to hold a positive stance on <keyword id="20648052" type="General" weightage="20" keywordseo="Balrampur-Chini" source="keywords">Balrampur Chini</keyword>, ITC, and <keyword id="20394824" type="General" weightage="20" keywordseo="Jubilant-Foodworks" source="keywords">Jubilant Foodworks</keyword> from the FMCG segment. Considering a gap-up opening, the remaining sectors are also likely to start the session in tandem with the benchmark index but whether they hold their gains or not will have to be seen", he continued. Sameet Chavan, Head Research, Technical and Derivative - Angel One advises traders to continue with the cautious approach and watch levels closely on both sides, and trade in the direction of the breakout rather than switching sides frequently. Additionally, monitoring global markets can provide early indications of the likely direction of the breakout, he added.

Stock market today: Sensex gains around 900 points in early trade, Nifty up by over 1% on August 9th, 2024

<keyword id="413246" type="General" weightage="60" keywordseo="alkem-laboratories" source="Orion">Alkem Laboratories</keyword> Ltd on Tuesday reported a 76.83% rise in consolidated net profit at Rs 614.89 crore for the second quarter ended September 30, on the back of lower raw material cost and lower intensity of price erosion in the US market. The company had posted a consolidated net profit of Rs 347.72 crore in the second quarter of the last fiscal year, Alkem Laboratories said in a regulatory filing. Consolidated revenue from operations stood at Rs 3,440.17 crore, as compared to Rs 3,079.37 crore in the year-ago period, it added. Total expenses in the quarter were marginally higher at Rs 2,797.66 crore, as against Rs 2,727.71 crore in the same period a year ago, the company said. "Continuing our trend of improved performance, Q2 builds on the momentum gained in Q1 with significant gross margin enhancements backed by lower raw material cost and lower intensity of price erosion in the US market and increased operating leverage, resulting in improved EBITDA margins," Alkem Laboratories Managing Director <keyword id="6354782" type="General" weightage="20" keywordseo="sandeep-singh" source="Orion">Sandeep Singh</keyword> said. Domestic growth for the quarter remained subdued due to sporadic monsoon, he said, adding "we observed significant traction in the domestic market during September and anticipate continued momentum in the coming quarter" The company's India sales increased by 5% to Rs 2,327.8 crore, as compared to Rs 2,216.1 crore in Q2FY23. On the international business, Singh said both the US and non-US markets maintained robust performance, which was "evident in Q1 and continues to flourish". Alkem said its international sales grew by 27.1% to Rs 1,054.2 crore, as compared to Rs 829.1 crore in the year-ago quarter. "Our biosimilars portfolio is performing impressively, with Enzene's latest product addition (Ranibizumab), taking the product suite to 7, and witnessing significant traction in the domestic biosimilars market. "We are committed to carrying forward the momentum of better operational performance, building on our recent successes," Singh said.

Alkem Laboratories Q2 net profit up 76% at Rs 614.89 cr

New Delhi, Mar 13 () Drug firm Alkem Laboratories on Friday said the US health regulator has issued an establishment inspection report (EIR) for its manufacturing facility at Baddi in Himachal Pradesh. The Baddi facility was inspected by the United States Food and Drug Administration (USFDA) from February 17 to 21, 2020, Alkem Laboratories said in a filing to BSE. The USFDA has now issued an EIR for the manufacturing facility, it added. On February 21, the company in a regulatory filing had said USFDA had issued a Form 483 with two observations at the end of the inspection of the facility. It had said it shall put together a detailed response with adequate corrective and preventive measures to address the USFDA observations. Shares of Alkem Laboratories were trading at Rs 2,468.40 per scrip on BSE, up 3.62 per cent from its previous close. AKT ANSANS

Alkem Labs gets EIR from USFDA for Baddi facility

New Delhi, Feb 21 () Drug firm Alkem Laboratories on Friday said it has received two observations from the US health regulator after inspection of its Baddi facility in Himachal Pradesh.The United States Food and Drug Administration (USFDA) had conducted an inspection at the company's manufacturing facility at Baddi from February 17 to 21, 2020, Alkem Laboratories said in a BSE filing."At the end of inspection, the company has received a Form 483 with two observations," it added.The company shall put together a detailed response with adequate corrective and preventive measures to address the observations and the same is proposed to be filed within the timeline stipulated by the US health regulator.As per the USFDA, Form 483 is issued to firm management at the conclusion of an inspection when an investigator(s) has observed any conditions that in their judgment may constitute violations of the Food Drug and Cosmetic Act and related Acts.It notified the company's management of objectionable conditions at the facility. AKT BAL

Alkem Labs gets 2 USFDA observations for Baddi facility

New Delhi, Feb 7 () Drug firm Alkem Laboratories on Friday said it has received three observations from the American health regulator after inspection of its facility at St Louis in the US. The United States Food and Drug Administration (USFDA) had conducted an inspection of the company's manufacturing facility located at St. Louis, USA from January 27 to February 6, 2020, Alkem Laboratories said in a filing to the BSE. "At the end of the inspection, the company has received Form 483 with three observations," it added. The company shall submit to the USFDA within the stipulated timeline a detailed response to close out all the observations associated with this inspection, Alkem Laboratories said. An FDA Form 483 notifies a company's management of objectionable conditions at the facility inspected by the US health regulator. Shares of Alkem Laboratories were trading at Rs 2434.45 per scrip on the BSE, up 1.21 per cent from its previous close. AKT MKJ

Alkem Labs gets 3 observations from USFDA for St Louis facility

New Delhi, Mar 13 () Fair trade regulator CCI has asked Bengal Chemists and Druggists Association (BCDA), its two district committees, Alkem Laboratories and Macleods Pharmaceuticals to refrain from indulging in anti-competitive business practices. The district committees are Murshidabad District Committee and Burdwan District Committee. In a press release, CCI said it has passed an order against the entities for violating provisions of the Competition Act by involving in anti-competitive business practices. The Competition Commission of India (CCI) found that pharmaceutical companies -- Alkem Laboratories and Macleods Pharmaceuticals-- had an anticompetitive agreement with BCDA. CCI noted that BCDA used to mandate pharmaceutical companies in some districts of West Bengal to ask their new stockists to obtain a stock availability information (SAI) / no objection certificate from BCDA before supply of drugs can be commended to them and used to collect monetary considerations for issuance of SAI through its district committees. Also, the promotion cum distributor agents of pharma companies had to obtain product availability information from BCDA after paying money to the association in the form of donations to start marketing drugs of their respective pharma companies in West Bengal. Since BCDA has taken several steps to stop the practice of requiring NOC/ SAI and Alkem and Macleods have filed the plea before the Commission that they were indulging in such conduct under threat from BCDA, CCI has "decided not to impose any monetary penalty on the erring entities." SRS ANUANU

CCI asks Alkem Labs, Macleods Pharma, BCDA not to indulge in unfair biz practices

New Delhi, Feb 7 () Drug firm Alkem Laboratories on Friday reported a 89.80 per cent rise in consolidated net profit a Rs 389.96 crore for the quarter ended December. The company had posted a net profit of Rs 205.45 crore for the corresponding period of the previous fiscal, Alkem Laboratories said in a filing to the BSE. Consolidated revenue from operations stood at Rs 2,181.84 crore for the quarter under consideration as against Rs 1,926.32 crore in the same period a year ago. The company's board has declared an interim dividend of Rs 22 per equity share on the face value of Rs 2 per share for the financial year 2019-20, Alkem Laboratories said. In a separate filing, the company said its board has approved the re-appointment and increase in remuneration of Basudeo N Singh as executive chairman of the company for a period of five consecutive years with effect from April 1, 2020 up to March 31, 2025. The board also approved the appointment of Narendra Kumar Aneja as an additional director of the company, it added. Shares of Alkem Laboratories were trading at Rs 2,536 per scrip on the BSE, up 5.74 per cent from its previous close. AKT RVK

Alkem Labs Q3 net profit up 90 pc to Rs 390 cr

Both indices, <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> saw a muted start to the week's opening on Monday. While Sensex was trading at 79,274.72 points, down by over 430 points, while Nifty was at 24,222.35, dipping by 0.6%. <keyword id="22754224" type="General" weightage="20" keywordseo="Grasim-Paints" source="keywords">Grasim Paints</keyword>, JSW Steel, Cipla gained over 1% each, while <keyword id="20026009" type="General" weightage="20" keywordseo="Asian-Paints" source="keywords">Asian Paints</keyword> and <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords">Tata Motors</keyword> also gained lead during early trade. <keyword id="22754225" type="General" weightage="20" keywordseo="Adani-Entertainment" source="keywords">Adani Entertainment</keyword>, <keyword id="20051210" type="General" weightage="20" keywordseo="Adani-Ports" source="keywords">Adani Ports</keyword>, <keyword id="19903558" type="General" weightage="20" keywordseo="NTPC" source="keywords">NTPC</keyword>, <keyword id="19906098" type="General" weightage="20" keywordseo="SBI-Life" source="keywords">SBI Life</keyword> and Tata Consumers were amidst the leading laggards. Aditya Gaggar, director of Progressive Shares notes that a range of 23,970-24,400 is a make or break for Nifty, and a breakout on either side will open the door for a further 300-400 points. The same observation was also seen in BankNifty with a range of 49,730-50,730. "Some stocks look strong on a technical front Balrampur Chini and United Spirits, HUL, and ITC. The media segment shows stock-specific buying (Network18 &amp; SunTV). The pharma sector has extended its strong uptrend and breakout in a few counters are indicating further rally in the sector (Alkem Labs, IPCA Labs, and Mankind Pharma)", he continued. All broad market indices dipped during early trade, about 1% each, with the exception of India VIX, which inched up about 5.57%. Only consumer durables and realty saw shoots of greens during opening trade today, while media dipped over 1%. Shrikant Chouhan, Head Equity Research, Kotak Securities, highlights that "benchmark indices experienced profit booking at higher levels last week. Nifty closed 1.42% down, while Sensex closed 1,260 points lower. The metal index declined by nearly 3%, while healthcare and pharma stocks held positive momentum despite weak market sentiment. The market slipped below the 20-day SMA (simple moving average) during the week but recovered some losses in the second half and eventually closed at 24,367/79,722. "For the week, 23,800/78,000 and 24,500/80,100 are expected to be the major support and resistance levels. Above 24,500/80,100, the market may continue the pullback formation until 24,700/80,600 or even 24,900/81,200. On the other hand, below 24,100/78,600, selling pressure may increase, potentially leading to a drop to the 50-day SMA and 23,800/78,000", he said. "The suggested strategy is to reduce long positions until the market crosses 24,500 levels. Considering trading bets above 24,500 is advisable as there may be a technical breakout that could push the market towards 24,900 levels. Below 23,800, it could fall to 23,300 levels", continued Chouhan.

Stock market opening: Sensex, Nifty see muted start, Asian Paints, Grasim take lead

<keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> dipped over 250 points in early trade today to trade at 24,213.70 points, while <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> was down by 0.34% to trade at 24,213.70 as of 9:40 am on August 8th, 2024. <keyword id="20114187" type="General" weightage="20" keywordseo="Cipla" source="keywords" meta.keywordsubtype="org" meta.entityname="Cipla" meta.hostid="261" meta.entityid="Cipla">Cipla</keyword>, ITC, Tata Motors, HDFC Bank, and Dr Reddy gained an early edge during trade, while ONGC, Shri Ram Finance, JSW Steel, Infosys and BPCL dipped by over 1% each, and were amidst the leading laggards. Almost all broad market indices were trading in red, incurring marginal losses, with the exception of India VIX, which inched up by 2.42%. Amidst <keyword id="21114756" type="General" weightage="20" keywordseo="sectoral-indices" source="keywords">sectoral indices</keyword>, media, pharma, realty, healthcare and consumer durables were trading in green, while other indices were trading in red. Aditya Gaggar, director of Progressive Shares noted that Indian equities ended 7th August trade higher at 24,297. After 2 days of correction, Nifty50 has formed a green candle but its long-legged DOJI pattern still indicates indecisiveness. As long as the Index holds its support level of 23,960, it can soar higher to 24,550 followed by 24,700. " From the Energy sector, we retain our positive stance on OMC stocks (BPCL &amp; HPCL), Gas stocks are also indicating a continuation of their uptrend. Stock-specific buying can be seen in the FMCG segment (<keyword id="20648052" type="General" weightage="20" keywordseo="balrampur-chini" source="keywords">Balrampur Chini</keyword> and HUL, ITC). A strong trendline reversal was seen in the <keyword id="20458349" type="General" weightage="20" keywordseo="metal-sector" source="keywords">metal sector</keyword>, activity of today's trade will confirm the continuation or reversal of the trend. The <keyword id="20072634" type="General" weightage="20" keywordseo="pharma-stocks" source="keywords">pharma stocks</keyword> are soaring higher and we are bullish on several stocks namely Alkem, IPCA Labs, and <keyword id="20825787" type="General" weightage="20" keywordseo="natco-pharma" source="keywords">Natco Pharma</keyword>. Investors should keep an eye on the chemical and textile segment", he continued. Said Shrikant Chouhan, Head Equity Research, Kotak Securities, "unless Nifty/Sensex breaks 24,400/79,900, the broader market will remain within a trading range, between 23,900/78,300 and 24,400/79,900 levels. We believe 24,150/79,150 could be the crucial support zone for day traders. As long as the market stays above this level, the upward movement is likely to persist. On the upper side, Nifty could rise to 24,400-25,550/80,000-80,450. On the contrary, below 24,150/79,150, it may retest 24,050-23,900/78,800- 78,300 levels. A drop below 23,900/78,300 could push the indices to 23,650/77,500 levels. The strategy should be to buy Nifty if it crosses 24,400 levels".

Stock market today: Sensex dips over 250 points, Nifty also opens in red on August 8, 2024

<ul><li>After seeing a positive trend in the first few days of the year, the market witnessed a huge sell-off on weak global cues.</li><li>Markets were swayed by the US Federal Reserve Minutes commentary, which indicated interest rate hike will be sooner than expected and the central bank will stop economic stimulus measures.</li><li>Investors shrugged off shares of banks, IT, metals, auto, infrastructure and bought some essential services stocks like pharma.</li></ul><keyword id="46038" type="General" weightage="20" keywordseo="indian-markets" source="Orion">Indian markets</keyword> fell steeply about 900 points on January 6 mirroring losses in other Asian and the US markets after the US Federal Reserve announced that it will stop measures for economic stimulus and increase interest rates sooner than expected. “Participants generally noted that, given their individual outlooks for the economy, the labour market, and inflation, it may become warranted to increase the federal funds rate sooner or at a faster pace than participants had earlier anticipated. Some participants also noted that it could be appropriate to begin to reduce the size of the Federal Reserve's balance sheet relatively soon after beginning to raise the federal funds rate," said the US Fed in the monetary policy minutes. From the US Fed minutes commentary, markets have reportedly anticipated Fed to reduce its holdings of treasury bonds, which pushed the 10-year US Treasury yield to 1.7%. The US Fed commentary to “reduce the size of the Federal Reserve's balance sheet” indicated that it will soon sell some of the bonds held in its account. This triggered the 10-year treasury bond yield, which went up to 1.7% <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Global markets </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change as of 10:55 a.m. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ASX All Ordinaries (Australia) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.71% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SE Composite Index (China) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.25% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hang Seng (Hong Kong) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.57% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sensex (India) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.35% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nikkei 225 (Japan) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TSEC 50 Index (Taiwan) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.23% </td></tr></tbody></table>Huge sell-off in the market led to fall in shares of banks, fast moving consumer goods (FMCG), IT and metal companies. As the fear of COVID-19 persists with rising cases and increasing restrictions in many Indian cities, investors bought some selective essential company stocks. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change in share price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gland Pharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.47% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Laurus Labs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.71% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lupin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.52% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Abbott India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.67% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Natco Pharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.45% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alkem Laboratories </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Emami </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.21% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Radico Khaitan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.76% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Procter &amp; Gamble Hygiene and Health Care </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.63% </td></tr></tbody></table>Few weeks back, the US Fed said that it will soon end COVID-19 stimulus programmes and raise interest rates three times next year, which <a href="https://www.businessinsider.in/stock-market/news/constant-fii-selling-since-october-bleeds-indian-markets/articleshow/88339477.cms">triggered the stock markets last year.</a> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-slumps-over-450-points-in-early-trade-nifty-slips-below-17800-hdfc-hcl-tech-hdfc-bank-infosys-kotak-bank-tech-mahindra-and-tcs-top-losers/articleshow/88725853.cms">Sensex slumps over 450 points in early trade; Nifty slips below 17,800 — HDFC, HCL Tech, HDFC Bank, Infosys, Kotak Bank, Tech Mahindra and TCS top losers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-clocks-over-90000-fresh-covid-19-cases-and-325-deaths-in-the-last-24-hours/articleshow/88726971.cms">India clocks over 90,000 fresh COVID-19 cases and 325 deaths in the last 24 hours</a>

Indian markets see huge sell-off after US Fed says interest rate hike will be sooner than expected

From Nykaa to Cipla to 3i infotech — these are some of the themes the market is betting on amid a sell-off

India has 15 pharma billionaires in the top 100 and their net worth is over $85 billion

<ul><li><keyword id="6358361" type="DEFINITION" weightage="20" keywordseo="biocon">Biocon</keyword> has joined the list of other pharma giants like Glenmark, Hetero, and Cipla which rolled out repurposed drugs to treat COVID-19 patients in India. </li><li>Itlolizumab is the first novel biologic therapy to be approved anywhere in the world for treating patients with moderate to severe coronavirus cases. </li><li>Previously, Biocon along with Cipla, Hetero Labs, Jubilant Lifesciences and Mylan got voluntary permission from Gilead Sciences to produce Remdesivir in India. </li><li>Biocon’s subsidiary Biocon Biologics <a href="https://www.ndtv.com/business/biocon-subsidiary-biocon-biologics-received-nod-to-use-cytosorb-in-covid-19-coronavirus-treatment-2235772">also received approval</a> from the Drugs Controller General of India to use extracorporeal blood purification (EBP) device CytoSorb to treat coronavirus patients. </li></ul>Indian pharmaceutical giant Biocon Limited on July 11 got approved from the Drugs Controller General of India for the use of its biologic drug Itolizumab to treat moderate and severe coronavirus patients. The shares of Kiran Mazumdar Shaw-led Biocon rose by nearly 10% after it announced that it has received an emergency use authorisation for Itolizumab. Though the shares have cooled down since the net gains from the stock are over 65% in less than 90 days. <div type="image" title="BIOCON" msid="76936314" hostid="261"></div> While most businesses have struggled to keep their operations up and running during the pandemic, drug makers have been essential in the fight against COVID-19. Biocon has joined the list of other pharma giants like Glenmark, Hetero, and Cipla which rolled out repurposed drugs to treat COVID-19 patients in India. These repurposed drugs were designed to treat other diseases but their generic version is now used to cure coronavirus. However, very few stocks, even within the pharmaceuticals universe, have performed as well as Biocon has. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stocks </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">QTR %</td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Biocon </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25.51% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lupin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.67% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cadila Health </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.08% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.99% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alkem Laboratories </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-11.66% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr. Reddys Lab </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.74 </td></tr></tbody></table>Source: ET READ ALSO: <a href="https://www.businessinsider.in/india/news/fabiflu-covifor-cipremi-medicines-approved-to-treat-covid-19-patients-in-india/slidelist/76507980.cms">Fabiflu, Covifor, Cipremi and other drugs approved or under trial for COVID-19 patients in India</a> Biocon has at least two drugs being used to treat COVID-19 Itlolizumab is the first novel biologic therapy to be approved anywhere in the world for treating patients with moderate to severe coronavirus cases. The firm has repurposed the drug, an anti-CD6 IgG1 monoclonal antibody launched in India in 2013 as Alzumab for treating chronic plaque psoriasis, a skin disease. Itlolizumab will be manufactured and formulated as an intravenous injection at Biocon Park in Bengaluru. The pharma <a href="https://www.businesstoday.in/sectors/pharma/coronavirus-treatment-biocons-psoriasis-drug-itolizumab-approved-by-dcgi-full-course-for-rs-32000/story/409574.html">giant might charge ₹32,000 for the full course</a> of the drug. Previously, Biocon along with Cipla, Hetero Labs, Jubilant Lifesciences and Mylan got voluntary permission from Gilead Sciences to produce Remdesivir in India. Remdesivir is an antiviral drug that was first used to treat Ebola. Biocon’s subsidiary Biocon Biologics <a href="https://www.ndtv.com/business/biocon-subsidiary-biocon-biologics-received-nod-to-use-cytosorb-in-covid-19-coronavirus-treatment-2235772">also received approval</a> from the Drugs Controller General of India to use extracorporeal blood purification (EBP) device CytoSorb to treat coronavirus patients. CytoSorb, according to Shaw, is a unique device which reduces cytokine storm in critically ill coronavirus patients and was first introduced in India in 2013. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/amazon-reportedly-told-employees-they-have-to-delete-tiktok-from-their-phones-due-to-security-risks/articleshow/76900325.cms">Amazon told employees to delete TikTok from their phones — then walked back the policy and said it was an 'error'</a> <a href="https://www.businessinsider.in/india/news/photographer-of-the-viral-black-panther-images-from-india-shares-his-story/articleshow/76830618.cms">INTERVIEW: Shaaz Jung opens up about the blood, sweat and years behind the viral images of a rare black panther</a> <a href="https://www.businessinsider.in/tech/news/intel-will-speed-up-mukesh-ambanis-5g-run-power-him-with-ai-and-possibly-a-jio-laptop/articleshow/76780290.cms">Intel will speed up Mukesh Ambani’s 5G run, power him with AI and possibly a Jio laptop⁠— all in return for massive amount of data</a>

₹10,000 invested in Biocon just before lockdown is now worth over ₹16,500⁠— here’s why

<ul><li>The sudden change in preferred therapies by masses has just taken a sharp turn from pre-Covid period when gastric, vitamin therapies were most widely used. </li><li>Probably the concern that coronavirus impacts adversely chronic heart, lung and diabetics severely had turned people into buying more of medicines for these ailments.</li><li>In the month of June, demand for <keyword id="3853240" type="PERSON" weightage="20" keywordseo="cardiac-drugs">Cardiac drugs</keyword> registered the strongest growth of 15.9 per cent yoy in terms of value and Anti-Diabetic segment grew at 12.7 per cent yoy due to continued buying during the period of the lockdown. </li></ul> The changes in the medication needs of the masses due to the novel Coronavirus pandemic seems to impacting the operation of pharmaceutical companies with those dealing in respiratory, anti-diabetic, cardiac therapies performing much better than others having anti-infective, gastro, vitamin or pain therapies in their portfolio. The sudden change in preferred therapies by masses has just taken a sharp turn from pre-Covid period when gastric, vitamin therapies were most widely used. Probably the concern that coronavirus impacts adversely chronic heart, lung and diabetics severely had turned people into buying more of medicines for these ailments. In the month of June, demand for Cardiac drugs registered the strongest growth of 15.9 per cent yoy in terms of value and Anti-Diabetic segment grew at 12.7 per cent yoy due to continued buying during the period of the lockdown. Similarly, the Neuro segment (+14.6 per cent yoy) saw higher demand but surprisingly value growth for respiratory went down to 4.5 per cent even though Covid-19 is known to impact this critical functioning of the human body. Segments in acute therapies like anti infective, Gynaec/Vitamins, pain, gastro where the demand for drugs has always remained higher than others, declined year-on-year in June clearly bringing out the shift in drug use by Indians, especially during the time of lockdown. The first quarter period (April-June) is seasonally a strong quarter for acute therapies and the demand loss is, thus, unlikely to fully recover. According to a Emkay research report, the changing preference of drugs by people has also had an impact on the Indian pharmaceutical industry with companies having stronger drug brands dealing with respiratory, cardiac and anti-diabetic therapies (in chronic care) registering growth higher than the industry average. Accordingly, while Dr Reddy's Labs, Alkem having higher drug concentration in acute exposure category underperformed while the Indian Pharmaceutical Market (IPM), <keyword id="44642" type="DOMAIN" weightage="20" keywordseo="Sun-Pharma">Sun Pharma</keyword>, Torrent Pharma, Lupin, outperformed the market due to their high chronic portfolio. Cipla, Glenmark outperformed due to strong respiratory demand, while IPCA benefitted from high hydroxychloroquine sales, which has been touted as wonder drug having potential to positively impact severe Covid-19 patients. The brokerage report said that after falling for two straight months due to Covid-19, Indian pharmaceutical market (IPM) growth recovered (+5.8 per cent yoy) in June, led by Cardiac and Anti-Diabetes segments. Volumes fell 1 per cent yoy (vs. 16/13 per cent fall in April/May) but closer to normal levels of last year. On moving average turnover basis, IPM growth stood at 7 per cent yoy, while volume growth was flat. "We expect a gradual recovery from Q2 and 6-8 per cent growth for FY21," the report said. SEE ALSO: <a href="https://www.businessinsider.in/education/news/in-india-schools-cant-conduct-online-classes-for-more-than-90-minutes-for-class-1-to-8-and-other-guidelines-to-follow/articleshow/76976329.cms">In India, schools can’t conduct online classes for more than 90 minutes for class 1 to 8 — and other guidelines to follow</a> <a href="https://www.businessinsider.in/stock-market/news/infosys-vs-tcs-vs-wipro-comparison-of-share-price-and-earnings/articleshow/76996578.cms">Infosys shares are on fire because it beat TCS and Wipro⁠— and gave a soothing guidance</a> <a href="https://www.businessinsider.in/science/health/news/the-world-cant-wait-for-good-news-from-oxford-serum-institute-and-astrazeneca-but-that-is-only-the-first-step/articleshow/76996301.cms">The world can’t wait for good news from Oxford, Serum Institute and AstraZeneca ⁠— but that is only the first step</a>

You Searched For "Alkem Labs" and got 14 results

Stock market today: Sensex gains around 900 points in early trade, Nifty up by over 1% on August 9th, 2024

Ira Alok Puranik

Alkem Laboratories Q2 net profit up 76% at Rs 614.89 cr

PTI

Alkem Labs gets EIR from USFDA for Baddi facility

PTI

Alkem Labs gets 2 USFDA observations for Baddi facility

PTI

Alkem Labs gets 3 observations from USFDA for St Louis facility

PTI

CCI asks Alkem Labs, Macleods Pharma, BCDA not to indulge in unfair biz practices

PTI

Alkem Labs Q3 net profit up 90 pc to Rs 390 cr

PTI

Stock market opening: Sensex, Nifty see muted start, Asian Paints, Grasim take lead

Ira Alok Puranik

Stock market today: Sensex dips over 250 points, Nifty also opens in red on August 8, 2024

Ira Alok Puranik

Indian markets see huge sell-off after US Fed says interest rate hike will be sooner than expected

Bhakti Makwana

From Nykaa to Cipla to 3i infotech — these are some of the themes the market is betting on amid a sell-off

Bhakti Makwana

India has 15 pharma billionaires in the top 100 and their net worth is over $85 billion

Kritti Bhalla

₹10,000 invested in Biocon just before lockdown is now worth over ₹16,500⁠— here’s why

BI India Bureau

Covid-19 pushes up sales of cardiac and anti-diabetic drugs

BI India Bureau