<keyword id="44612" type="General" weightage="20" keywordseo="Pfizer" source="Orion">Pfizer</keyword> estimates that it will rake in record-breaking earnings of more than $100 billion this year due to sales of its Covid-19 vaccine and antiviral pill to treat the virus, Daily Mail reported. The rollout of the vaccine has already led to a substantial financial windfall for the New York City-based company, and the prospect on enhanced distribution of Paxlovid, the potential rollout of Omicron-tailored vaccines and more booster shots in the future will lead to an influx of even more cash. On Tuesday, the company revealed its fourth quarter earnings and revenue projections for 2022 where it said it estimates it will earn up to $102 billion in sales next year, which would be a new record. More than half of those earnings will be off of its two Covid products, with the vaccine expected to bring in $32 billion in sales, and Paxlovid expected to earn $22 billion. But despite the record earnings estimates, the drugmaker posted mixed fourth-quarter results when it comes to actual revenue, with shares down 5.4 per cent in early morning trading. Shares were down 2.84 per cent by closing, the report said. The Pfizer Covid-19 vaccine is the most commonly used jab in the US and many other countries around the world. According to official data from the the US Centers for Disease Control and Prevention (CDC), the jab has been used 319 million times - more than half of the 540 million vaccines administered in the nation overall. This includes the nearly 50 million Pfizer booster shots that have been administered to Americans. The company doubled its Q4 sales this year when compared to last, to $23.84 billion over the last three months of last year, the report said. More than half of that revenue, $12.5 billion, came from the Covid vaccines alone. This revenue stream will remain intact for years to come, potentially even the next decade, if Pfizer has its way. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/bharti-airtel-vedanta-irctc-among-top-stocks-to-watch-out-on-february-9/slidelist/89444055.cms">Bharti Airtel, Vedanta, IRCTC among top stocks to watch out on February 9</a> <a href="https://www.businessinsider.in/cryptocurrency/news/avalanche-price-rises-as-bitcoin-ethereum-and-other-cryptocurrencies-fall/slidelist/89443437.cms" data-type="tilCustomLink">Crypto relief rally ends but Avalanche is still keeping its head above water</a> <a href="https://www.businessinsider.in/stock-market/news/inox-green-energy-will-be-using-7-out-of-10-from-the-ipo-to-repay-its-debts/articleshow/89439043.cms" data-type="tilCustomLink">Inox Green Energy will be using ₹7 out of ₹10 from the IPO to repay its debts</a>

Pfizer says that it may earn over $100 billion just by selling COVID-19 vaccine and antiviral pill

The new Ahmedabad-based <keyword id="6354312" type="General" weightage="20" keywordseo="IPL" source="Orion">IPL</keyword> team, owned by CVC Capital, will be called <keyword id="6354766" type="General" weightage="20" keywordseo="gujarat" source="Orion">Gujarat</keyword> Titans, the franchise revealed on Wednesday, days ahead of the mega auction. The naming of the Ahmedabad franchise comes days after the Lucknow-based team announced its official name as Lucknow Super Giants. Both Ahmedabad and Lucknow are two new entrants to the IPL and were bought by CVC Capital Partners (Irelia Company Pte Ltd) and RPSG Group respectively, last October. "Debuting in the 15th season of the IPL, the Gujarat Titans will pay tribute to the state's rich cricketing legacy, which has seen it produce countless Indian international cricket legends over the years," the franchise said in a statement on Wednesday. "The franchise is inspired by the opportunity to represent and build on this deep cricketing heritage, as well as build on its future success on the pitch," it added. India all-rounder Hardik Pandya (Rs 15 crore) will lead the Ahmedabad team while they have also picked Rashid Khan (Rs 15 crore) and Shubman Gill (Rs 8 crore) via drafts ahead of the auction. It will be only the second IPL team for all three players, with Rashid coming over from Sunrisers Hyderabad, Gill from Kolkata Knight Riders, and Pandya from Mumbai Indians. This will also be the first time Pandya will lead an IPL franchise. Titans have also named their coaching staff comprising Ashish Nehra (head coach), Gary Kirsten (mentor and batting coach) and Vikram Solanki (director of cricket). The trio has worked together for Royal Challengers Bangalore previously. Titans' home stadium will be the Narendra Modi Stadium in Ahmedabad, the world's largest cricket stadium. "We want this group to achieve great things for Gujarat and its many passionate fans, which is why we have chosen the name Titans," Siddharth Patel, a partner at CVC, said. "As we approach the league's mega auction, we are confident that we will be able to put together the right combination of players going into the new season. We want individuals that are not only highly skilled but who are inspired to be Titans of the game. "We look forward to starting on our journey with the passion and support of the people of Gujarat, and hope to inspire and win over new fans from all over India and the world," he added. Titans will have Rs 52 crore in their purse for the auction, scheduled to be held in Bengaluru on February 12 and 13. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/bharti-airtel-vedanta-irctc-among-top-stocks-to-watch-out-on-february-9/slidelist/89444055.cms">Bharti Airtel, Vedanta, IRCTC among top stocks to watch out on February 9</a> <a href="https://www.businessinsider.in/cryptocurrency/news/avalanche-price-rises-as-bitcoin-ethereum-and-other-cryptocurrencies-fall/slidelist/89443437.cms">Crypto relief rally ends but Avalanche is still keeping its head above water</a> <a href="https://www.businessinsider.in/stock-market/news/inox-green-energy-will-be-using-7-out-of-10-from-the-ipo-to-repay-its-debts/articleshow/89439043.cms">Inox Green Energy will be using ₹7 out of ₹10 from the IPO to repay its debts</a>

Ahmedabad-based new IPL franchise to be called Gujarat Titans

<ul><li>Fall in shares of Reliance, Shree Cements, SBI and others led to sudden drop in Sensex, Nifty 50 in the second half.</li><li>The fall may have been sharper if not for automobile stocks that rallied today on report of improvement in chip shortage.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>The Indian market slid sharply in the second half of trade on Tuesday (November 16). Nifty 50 broke below the 18,000 mark and Reliance Industries (RIL) contributed to nearly 30% of the fall, as at 2:40 p.m. 37 of the 50 stocks were in decline at the time. If not for the rally in automobile stocks like Tata Motors and Maruti Suzuki, the fall may have been sharper. The sell-off was the worst in pharmaceuticals, banks ⁠— particularly the state-owned ones like State Bank of India (SBI) ⁠— and the energy index fell over a percent largely due to the sell off in RIL shares. Top losers : Nifty 50 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><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;">Shree Cements </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;">-3% </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;">SBI </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;">-2.4% </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;">Tata Consumer </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;">-2.3% </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;">NTPC </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% </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;">Reliance </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;">-3% </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;">-1.6% </td></tr></tbody><tbody></tbody></table>As of 3:30 PM on November 16 “Some correction is expected as investors are selling PSU and some other stocks to make way for LIC, which is expected to be launched around February. This can be one of the triggers for the fall. Another 5% correction could happen in the next 15-20 days due to global weak sentiment,” said Abhishek Jain, chief market strategist at BP Equities. Cements stocks like Shree Cements fell after a report indicated that cement companies have dropped plans to hike prices for the month of November. “Cement prices have seen some correction especially in eastern market and in western market there was a hike after Diwali, which has been reversed right now,” added Jain. The top five gainers on the Nifty 50 were all auto stocks after Morgan Stanley said that the chip shortage, which had stalled production for car makers around the world, may be easing finally. A similar commentary from Uttar Pradesh-based electronic products manufacturer Dixon Technologies took the shares higher. <div type="image" title="dixon" height="900" width="1200" msid="87736216" hostid="261"></div> Some of the most traded stocks on the National Stock Exchange ⁠— the largest by volume ⁠— were auto parts makers Mahindra CIE and Suprajit Engineering, and cloud solutions company Tanla Platforms. All three stocks saw nearly ten times the volume of shares traded on an average in the last five days, and all three of them gained over 5% today. Aegis Health and P&amp;G Health hit a 52-week low today. Investors continued to dump shares of IndusInd Bank and Hindalco and both shares are now among the biggest losers on the Nifty 100 index in the last one month. Indian Railway Catering and Tourism Corporation (IRCTC), the billion dollar company that has a near monopoly in railway ticket bookings and catering, jumped 1.8% today. Still, it’s shareholders have lost over 21% of the value in the last one month. Top losers on Nifty 100 in the last one month <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><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;">Stock </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 </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;">IndusInd Bank </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;">-15.45% </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;">Jindal Steel and Power </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;">-13.4% </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;">Hindalco </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;">-13.2% </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;">Coal 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;">-13.2% </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;">PI Industries </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></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/former-myntra-ceo-started-mensa-brand-in-may-and-its-already-worth-a-billion-dollars-with/articleshow/87735832.cms">Former Myntra CEO started Mensa Brand in May ⁠and it’s already worth a billion dollars with</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/analysts-say-subscribe-to-tarsons-ipo-a-supplier-for-dr-lal-path-labs-and-dr-reddys-from-bengal/articleshow/87730889.cms">The IPO from Tarsons, a Bengal-based supplier for Dr Lal Path Labs and Dr Reddy’s, gets a unanimous ‘subscribe’ call from the street</a>

Reliance Industries makes for nearly a third of Nifty’s fall today ⁠— Tata Motors and Maruti beat the trend

<ul><li><keyword id="11114070" type="COMPANY" weightage="20" keywordseo="glenmark-life-sciences">Glenmark Life Sciences</keyword> is likely to announce its share allotment status on August 3.</li><li>The issue size of the speciality chemical manufacturer was subscribed 45.08 times on the third and final day of the issue on July 29.</li><li>The company’s IPO has received bids for 66.33 crore equity shares against the IPO size of 1.4 crore equity shares.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>The public issue of Glenmark Pharmaceuticals’ subsidiary Glenmark Life Sciences is likely to announce its share allotment status for its initial public offering (IPO) on August 3. Here is how to check <keyword id="11771498" type="UNKNOWN" weightage="20" keywordseo="Glenmark-Life-Sciences-IPO-allotment">Glenmark Life Sciences IPO allotment</keyword> status on stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select 'Glenmark Life Sciences ‘.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on ‘Glenmark Life Sciences ’.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’.</li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. Glenmark Life Sciences was looking to raise ₹1,060 crore through the IPO. From the overall IPO proceeds, ₹800 crore will go to the promoter Glenmark Pharmaceuticals as payment for the spin-off. In 2019, the API manufacturing business of Glenmark was spun off into Glenmark Life Sciences as part of a broader reorganisation focusing on the API business. The IPO was open for subscription from July 27 to July 29 with a price band of ₹695 to ₹720. The IPO received good demand from investors given it subscribed 45.08 times on the third and final day of the issue. It received bids for 66.33 crore equity shares against the IPO size of 1.4 crore equity shares. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/10000-invested-in-irctc-shares-on-listing-day-is-worth-30000-today/articleshow/84967604.cms">₹10,000 invested in IRCTC shares on listing is worth more than ₹38,000 today ⁠— the record could get even better </a> <a href="https://www.businessinsider.in/stock-market/news/hdfc-share-price-and-earnings-trigger-a-rally-in-dlf-oberoi-realty-prestige-and-other-real-estate-stocks/articleshow/84970690.cms">India’s largest home loan provider HDFC has given real estate stocks another reason to rally </a>

Glenmark Life Sciences IPO: How to check allotment status, listing date and more

<keyword id="6354925" type="LOCATION" weightage="20" keywordseo="kolkata">Kolkata</keyword>, The '<keyword id="6379373" type="ORGANIZATION" weightage="20" keywordseo="bharat-bandh">Bharat Bandh</keyword>' called on Tuesday by the <keyword id="3627663" type="PERSON" weightage="20" keywordseo="farmer-unions">farmer unions</keyword> to press for the repeal of the Central government's newly passed farm laws received partial response in <keyword id="6357783" type="LOCATION" weightage="20" keywordseo="West-bengal">West Bengal</keyword> with <keyword id="44000" type="PERSON" weightage="20" keywordseo="protesters">protesters</keyword> burning the effigies of Prime Minister Narendra Modi, business honchos Mukesh Ambani and Gautam Adani on Jessore Road here. The protesters staged a road blockade near Lake Town and Bangur virtually choking the the key arterial stretch that connects Shyambazar through Dum Dum. West Bengal's Left Front-backed organisations also gathered at Kolkata's Jadavpur 8-B <keyword id="10396134" type="UNKNOWN" weightage="20" keywordseo="bus-stand-area">bus stand area</keyword> supporting the shutdown call on Tuesday. They will take out a rally extending support to the shutdown call. Tram and bus services were also disrupted in Kolkata's College Street area as agitators staged protests on Tuesday morning. Communist Party of India-Marxist (CPI-M) youth arm members also demonstrated at Esplanade area in support of the shutdown. Appealing to the people to join the shutdown, farmer leaders said they will block key roads during their 'chakka jam' protest from 11 a.m. to 3 p.m. on Tuesday as part of their nation-wide stir. West Bengal's ruling Trinamool Congress has extend "moral support" to the nationwide strike and in solidarity will stage sit-ins in various parts of the state for the next three days. The state's incumbent formation, however, said that it would not enforce the strike called by the farmers as the party is against bandh culture. "We support the issues raised by the farmers. We will hold protest programmes and sit-in demonstrations. The farmers have our moral support," veteran Trinamool Congress MP Sougata Roy said. Making the appeal on behalf of 16 Left and associate parties, West Bengal Left Front (LF) chairman Biman Bose already urged the people of the state to make Bharat Bandh a grand success. A rally is likely to be organised by 16 Left and associate parties from Entally market at 11 a.m. which would be attended by Biman Bose, Surya Kanta Mishra and many senior CPI-M leaders. In support of the shutdown, Left organisations and the Congress jointly took out a rally this morning in Birbhum's Rampurhat area. In Bankura district, the farmers staged a sit-in demonstration near Govindonagar while transport workers in the district suspended daily public transport services there in solidarity with the farmers. In Jalpaiguri's Dhupguri area, LF-backed protesters also disrupted public transport services in support of the 'Bharat Bandh'. Meanwhile, the Centre has issued an advisory directing all the states governments and Union Territories to tighten security and ensure peace is maintained throughout the country during the 'Bharat Bandh'. The farmer leaders also said that no one should be forced to participate in the shutdown, adding it is a four-hour symbolic bandh for an ideological cause. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-maruti-suzuki-nmdc-sbi-ongc-eicher-motors-likhitha-infrastructure-tata-consumer-and-others/articleshow/79600409.cms">Top stocks to watch — RIL, Maruti Suzuki, NMDC, SBI, ONGC, Eicher Motors, Likhitha Infrastructure, Tata Consumer, and others</a> <a href="https://www.businessinsider.in/india/news/petrol-is-less-than-a-rupee-away-from-being-more-expensive-than-it-has-ever-been-for-indian-consumers/articleshow/79601841.cms">Petrol is less than a rupee away from being more expensive than it has ever been for Indian consumers</a> <a href="https://www.businessinsider.in/stock-market/news/top-stock-movers-ongc-hdfc-bank-nmdc-pfizer-spicejet-indigo-irctc-tata-chemicals-and-others/articleshow/79602525.cms">Top stock movers — ONGC, HDFC Bank, NMDC, Pfizer, SpiceJet, IndiGo, IRCTC, Tata Chemicals, and others</a>

'Bharat Bandh' call receives partial response in Bengal

Mumbai, Benchmark indices <keyword id="6484188" type="PERSON" weightage="20" keywordseo="sensex">Sensex</keyword> and Nifty raced to fresh record highs on Wednesday as gains in financials, auto and IT shares helped markets extend their winning run for the sixth straight session. After a volatile session, the 30-share BSE Sensex closed up by 133.14 points or 0.28% at a record high of 47,746.22. The barometer scaled its all-time intra-day high of 47,807.85. The broad-based <keyword id="372424" type="COMPANY" weightage="20" keywordseo="NSE-Nifty">NSE Nifty</keyword> rose by 49.35 points or 0.35% to finish at its lifetime high of 13,981.95. It touched all-time peak of 13,997 in intra-day trade. Among major Sensex movers, Ultratech Cement rose over 4%, <keyword id="111876" type="DOMAIN" weightage="20" keywordseo="Bajaj-Finance">Bajaj Finance</keyword> by 2.63% and Maruti by 2%. Mahindra and Mahindra, Tech Mahindra, HUL, Kotak Bank, HDFC Bank, <keyword id="6355199" type="DOMAIN" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> and <keyword id="106317" type="DOMAIN" weightage="20" keywordseo="Asian-Paints">Asian Paints</keyword> also finished in the green. After opening strong, the stock indices gave up gains due to profit booking by investors. However, positive trends in the European stocks helped the indices rebound and end at record levels. European stocks advanced on Wednesday as the UK approved the <keyword id="8904563" type="UNKNOWN" weightage="20" keywordseo="covid-19-vaccine">COVID-19 vaccine</keyword> developed by <keyword id="6409874" type="DOMAIN" weightage="20" keywordseo="astrazeneca">AstraZeneca</keyword> and Oxford University. Britain has authorized use of a second COVID-19 vaccine, becoming the first country to greenlight an easy-to-handle shot that its developers hope will become the "vaccine for the world". Asian shares were mixed after a lackluster day on Wall Street. Benchmarks fell in Tokyo and Sydney but rallied in Hong Kong, Seoul and Shanghai. Japan's Nikkei 225 fell 0.5%, a day after it surged more than 2% to its highest level in more than 30 years. In Australia, the S&amp;P/ASX 200 lost 0.3%. On the other hand, Hong Kong's Hang Seng surged 1.6%, the Shanghai Composite index advanced 1% while South Korea's Kospi jumped 1.9%. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-sbi-hdfc-bank-wipro-ril-future-retail-tcs-jindal-stainless-upl-irctc-and-others/articleshow/80019871.cms">Top stocks to watch — SBI, HDFC Bank, Wipro, RIL, Future Retail, TCS, Jindal Stainless, UPL, IRCTC, and others</a> <a href="https://www.businessinsider.in/india/news/india-detects-14-new-cases-of-uk-covid-19-strain-putting-the-tally-at-20/articleshow/80020163.cms">India detects 14 new cases of UK COVID-19 strain, putting the tally at 20India detects 14 new cases of UK COVID-19 strain, putting the tally at 20</a> <a href="https://www.businessinsider.in/business/startups/news/2021-could-finally-be-the-year-of-indias-tech-ipos-as-startups-like-zomato-delhivery-policybazaar-head-for-the-public-markets/slidelist/80019978.cms">2021 could finally be the year of India’s tech IPOs as startups like Zomato, Delhivery, Policybazaar head for the public markets</a>

Vaccine booster: Sensex ends 133 points higher, Nifty inches closer to 14,000 mark

Bengaluru, The 'Bharat Bandh' call given by nearly a dozen farmer Associations on Tuesday in protest against the three farm laws enacted by the Centre recently failed to evoke much response across <keyword id="6354780" type="LOCATION" weightage="20" keywordseo="Karnataka">Karnataka</keyword>. Except minor incidents like farmer's leaders asking shopkeepers to shutdown their establishments were reported from districts like Mandya, Hassan, Mysuru and other rural parts where <keyword id="1992536" type="COMPANY" weightage="20" keywordseo="farmers-associations">farmers associations</keyword> enjoy a certain degree of clout. Like Bengaluru almost all major cities -- Managluru, Hubli-Dharwad, Belagavi -- did not evoke much of a response here too. All government offices, banks and shops were functioning normally with the Karnataka farmers Associations deciding to observe a 12-hour Bharat Bandh (India Shutdown), across the state other than the tech hub. Farmers Associations in Karnataka had made it clear on Monday itself that their Bandh would be observed across the state except Bengaluru, hence it did not affect Bengaluru's life. Several workers' unions, including the Karnataka State Road <keyword id="89428" type="DOMAIN" weightage="20" keywordseo="Transport-Corporation">Transport Corporation</keyword> (KSRTC) employees are also extending moral support to the bandh call. "The day-long bandh will be observed across the state except in Bengaluru, where the shutdown will be held on Wednesday, as our farmers are in towns and villages to stage demonstrations and participate in protest rallies," Karnataka Rajya Raitha Sangha president Kodihalli Chandreshakar had told IANS. The farmer organisations have, however, exempted essential supplies and services, including hospitals from the dawn-to-dusk bandh. Meanwhile, the Congress party state unit that has extended its full support to the farmers bandh call, held a symbolic sit-in protest in front of the Mahatma Gandhi statue in Vidhana Soudha ahead of attending the legislature session. Elaborate security arrangements were made by the <keyword id="127510" type="ORGANIZATION" weightage="20" keywordseo="Karnataka-Police">Karnataka Police</keyword> to maintain law and order and prevent untoward incidents like damage to the public property and use of force in shutting shops or business establishments. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-maruti-suzuki-nmdc-sbi-ongc-eicher-motors-likhitha-infrastructure-tata-consumer-and-others/articleshow/79600409.cms">Top stocks to watch — RIL, Maruti Suzuki, NMDC, SBI, ONGC, Eicher Motors, Likhitha Infrastructure, Tata Consumer, and others</a> <a href="https://www.businessinsider.in/india/news/petrol-is-less-than-a-rupee-away-from-being-more-expensive-than-it-has-ever-been-for-indian-consumers/articleshow/79601841.cms">Petrol is less than a rupee away from being more expensive than it has ever been for Indian consumers</a> <a href="https://www.businessinsider.in/stock-market/news/top-stock-movers-ongc-hdfc-bank-nmdc-pfizer-spicejet-indigo-irctc-tata-chemicals-and-others/articleshow/79602525.cms">Top stock movers — ONGC, HDFC Bank, NMDC, Pfizer, SpiceJet, IndiGo, IRCTC, Tata Chemicals, and others</a>

Bharat Bandh evokes lukewarm response in Karnataka

<ul><li>The Nifty Pharma index gained 2.82% during the early trading hour.</li><li>These were the top gainers in the Nifty Pharma pack.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The Nifty Pharma index gained 2.82% during the early trading hour. Pharma stocks have been on a roll over the past few days. Nifty Pharma index was trading 382.50 points higher, while the Nifty 50 index was up 44 points at 9:30 am. These were the top gainers in the Nifty Pharma pack: Lupin gained 7%, and Cipla was up 5% The shares of Lupin Limited gained 7%, and Cipla was trading 5% higher during the trade on September 18. The jump in the shares of the pharma companies came after its Irish-peer Perrigo voluntarily recalled albuterol inhalation. This development bodes well for Lupin and Cipla. Cipla launched gProventil in April this year, and Lupin’s gProAir is expected to be launched this month. Dr Reddy’s Laboratories gains 4% Dr.Reddy’s Laboratories was the third-largest gainer in the Nifty pharma pack, trading almost 4% higher. The company has announced a settlement of litigation with a unit of Bristol Myers Squibb related to patents for Revlimid (lenalidomide) capsules, used to treat various kinds of cancer. “We are pleased with the settlement agreement, and look forward to bringing a generic version of lenalidomide to market soon subject to regulatory approval for the benefit of patients,” Dr Reddy’s Laboratories North America Generics CEO Marc Kikuchi said. Other pharma stocks surge in trade as well Other pharma were also trading higher fueled by the rally in the pharma sector. Sun Pharma, Divi’s Laboratories, Aurobindo Pharma and Torrent Pharmaceuticals are all up over 2%. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-dr-reddys-laboratories-hdfc-bank-tvs-motor-vedanta-irctc-lt-bharat-forge-hal-and-more/articleshow/78179393.cms" data-type="tilCustomLink">Top stocks to watch— Dr Reddy's Laboratories, HDFC Bank, TVS Motor, Vedanta, IRCTC, L&amp;T, Bharat Forge, HAL, and more</a> <a href="https://www.businessinsider.in/sports/news/dailyhunt-app-founders-confirm-ipl-2020-associate-sponsorship/articleshow/78169667.cms" data-type="tilCustomLink">EXCLUSIVE: Dailyhunt founders confirm IPL 2020 associate sponsorship — promise new release for Josh ahead of India’s biggest cricket tournament</a>

Top pharma stock movers — Lupin, Cipla, Dr Reddy’s steal the show

<ul><li>Invact Metaversity raised its first round of funding at a valuation of $33 million in less than 3 months of launch.</li><li>They are trying to run a 3D immersive virtual learning platform that allows students to attend online classes as animated avatars.</li><li>The company will be designing their own course structures in order to further enhance the online learning experience.</li></ul><keyword id="11121339" type="General" weightage="20" keywordseo="metaverse" source="Orion">Metaverse</keyword> has become the new buzzword of the global technology ecosystem, and even Facebook’s founder Mark Zuckerberg is<a href="https://www.businessinsider.in/tech/enterprise/news/facebook-meta-microsoft-epic-games-and-others-companies-building-the-metaverse/articleshow/87663969.cms"> betting high</a> on it. Metaverse is a term used to describe a virtual space within a digital environment such as online games, social media and virtual reality. Create avatars, set up a second life, interact with strangers and friends — just like one would do in real life. While there are those working on creating virtual restaurants and dating experiences, Twitter India’s former head Manish Maheshwari and Microsoft’s former executive Tanay Pratap are trying to create virtual classrooms with their latest venture Invact Metaversity. Earlier this week, over 70 top global leaders and founders — including Future Group’s Kishore Biyani and Infosys’ former executive TV Mohandas Pai — decided to<a href="https://www.businessinsider.in/business/startups/news/future-groups-kishore-biyani-mohandas-pai-and-68-others-invest-in-former-twitter-india-heads-latest-startup/articleshow/89403045.cms"> accord a $33 million valuation</a> to the company, Invact Metaversity, that was barely started three months ago. The company is now looking to launch its first <keyword id="13137985" type="General" weightage="20" keywordseo="metaverse-education" source="Orion">metaverse education</keyword> experience with a special four month business foundation MBA course for 60 students. Students will have the option to attend the classes through their desktops and mobiles or have the real experience with the help of virtual reality (VR) headsets. Here’s how it will work The first and the simpler option is that students can simply use their laptops or mobile phones to attend these metaverse classes. It would be like playing Second Life or the simulation game Sims. The second one is where one uses a VR headset to be in the actual setting — sitting in the classroom, having friendly conversations, interacting with avatars and having a teacher teaching in front of them. The company’s investors have also experienced the VR aspect of this method of online learning before investing. In both the settings, the only aspect that changes is the mode of usage, but the access to canteens, libraries and other aspects would still be the same, the company’s cofounder and chief technology officer Tanay Pratap told Business Insider. “In the world we are building, you can have the fully immersive experience with the VR device, and it will work on laptop and desktop as well with the clicking and cursor movement,” he added. <div type="ExtQuote" text="“Today, on a Zoom call you are in a box. You look left, you look right, you feel alone. Contrast this with a class in metaversity, teacher is front, you have peers around you. We will bring back the light jokes and humour of the class through spatial audio… When students would study together in the virtual world, there would be better exchange of ideas.”" auname="Tanay Pratap, cofounder and chief technology officer (CTO) of Invact Metaversity"></div> Though the company has no long-term plans to provide the VR headsets to students yet, they may do so for the first batch to test to experience. The company believes that VR headsets will be more common and cheap as smartphones in the coming years. As far as the business is concerned, Invast Metaversity plans to add more courses and expand its business offering in the coming months. The course structure would be designed in-house by team members and even creators, educational institutions and companies would have to create their courses on the platform. ‘Coursera and SkillShare are dinosaurs, will go extinct’ The company is trying to solve two problems. First, make online education or remote learning a much more interesting prospect for the students. Secondly, ensure that the course completion rate increases in the online space. “I think those [Coursera, SkillShare, edX and Udemy and others] are like dinosaurs right now. And in ten years [of launch], the<a href="https://www.forbes.com/sites/dereknewton/2020/06/21/the-depressing-and-disheartening-news-about-moocs/?sh=6f48c9c976ed"> outcome in course completion is less</a> than 10%. It just shows that even though the business model [of these companies] is working somehow, the end user's product is not working. If you sign up for a course, you need to complete it. Why would one out of ten people complete it,” Pratap added. <div type="ExtQuote" text="“These [Coursera, SkillShare and others] are just competitions [sic] that will go extinct in some time when this new way of learning and the whole college experience emerges in the metaversity.”" auname="Tanay Pratap, CTO of Invact Metaversity"></div> He believes that the model they are operating in would allow the students to have peers and community, which will drive accountability that will push others to complete it. “The community-based course and the whole cohort experience would drive accountability and course experience,” he emphasised. ‘We want to prevent students from over spending on sub-par education’ “In the education piece [sic] we have not seen a disruption. Education is still the same. It’s still exams, it’s still rot learning, it’s still very dry. If it’s [education] is good, it’s good only for the top 1% of the world,” he said, adding that they want to democratize education and enable students to get better learning opportunities without giving up on the real experience. Citing an example of an MBA course, he noted that the course on their platform is for $2,500 compared to the usual tuition fee of $50,000-80,000 charged by universities abroad. He said it’s not about replacing all education with a digital one, but more about replacing sub-par education experience with a more hands-on learning experience digitally. Pratap said, “In the 1980s or 1990s, if somebody asked what the internet was, nobody would have predicted that the internet would be this thing wherein we’ll do voice, video or all our work would be online. Somebody would have predicted, people would have thought that they might be joking. That’s how will it [metaverse] evolve.” SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/bharti-airtel-vedanta-irctc-among-top-stocks-to-watch-out-on-february-9/slidelist/89444055.cms" style="">Bharti Airtel, Vedanta, IRCTC among top stocks to watch out on February 9</a> <a href="https://www.businessinsider.in/cryptocurrency/news/avalanche-price-rises-as-bitcoin-ethereum-and-other-cryptocurrencies-fall/slidelist/89443437.cms" data-type="tilCustomLink" style="">Crypto relief rally ends but Avalanche is still keeping its head above water</a> <a href="https://www.businessinsider.in/stock-market/news/inox-green-energy-will-be-using-7-out-of-10-from-the-ipo-to-repay-its-debts/articleshow/89439043.cms" data-type="tilCustomLink" style="">Inox Green Energy will be using ₹7 out of ₹10 from the IPO to repay its debts</a>

INTERVIEW: Former Twitter and Microsoft execs building a classroom on the metaverse explain what it would look and feel like

<ul><li>The midcap IT firm’s net profit grew marginally by 0.5% quarter-on-quarter to ₹341 crore in September quarter.</li><li>The company delivered 9.8% quarter-on-quarter direct revenue growth in the quarter. It believes no other peer has given 30% organic growth in the first half of FY22.</li><li>“I am of the school of thought that lack of supply or lack of adequate talent is as much a headwind to us as it is a tailwind,” said Nitin Rakesh, chief executive officer at <keyword id="46598" type="General" weightage="20" keywordseo="mphasis" source="Orion">Mphasis</keyword>.</li></ul>Bengaluru-based midcap information technology (IT) company Mphasis seems to be unaffected by the industry-wide issue of attrition, which is bothering IT giants like Tata Consultancy Services (TCS) and Infosys. Demand for digital transformation is booming and so is demand for techies. As a result of this, a huge number of employees are leaving IT organisations for <a href="https://www.businessinsider.in/careers/news/infosys-wipro-shares-up-as-q2-earnings-excite-investors/articleshow/87013663.cms">better opportunities</a>. On the other hand, the management of Mphasis is pretty confident of surpassing this phase without stressing much about the rising attrition rate. "I am of the school of thought that lack of supply or lack of adequate talent is as much a headwind to us as it is a tailwind. Because, you know (when) our clients are not able to find the talent, they can't go (and) execute the project...so shortage of supply is always a good thing for our business," said Nitin Rakesh, chief executive officer at Mphasis in an interview with Business Insider. The midcap IT company believes that their trained workforce is the reason behind successful completion of deals and they want to focus on skilling employees. “Everybody at the same time all over the world decided that they need more tech. And, you know, unfortunately, we can't put up, you know, plants and start manufacturing people. So we have to go and find those people and create that talent. So I think we have set up our own talent factories,” said Rakesh. Besides, Mphasis does not reveal its attrition rate like other IT firms but it mentioned the rate has increased in the September quarter from what it was last year. The company even hired a lower number of employees in the September quarter compared to the last few quarters as it was not very much worried about the attrition rate. “We hire to demand. In fact the numbers are in line with business,” said Rakesh. <div type="image" title="mphasis empl" height="900" width="1200" msid="87358262" hostid="261"></div> Further, Mphasis has not set a particular target for hiring a set number of employees and wishes to hire as per client demand. This is contrary to the industry trend of hiring an increasing number of employees with the growing demand for digital transformation. The company’s strong and consistent financial performance in comparison to its peers shows why it remains so unaffected and focused towards its growth. “Both quarters in a row, we've actually delivered market leading growth in the direct business. I don't think there is any other peer of ours that has delivered 30% plus organic growth in the first half of FY22,” said Rakesh. Mphasis’ direct segment, which caters predominantly to sectors like banking, diversified financial services and insurance accounts for 50% of its revenue. Not to forget, BFSI is a core client base for most IT firms as there is accelerated demand for cloud migration, software products for digital banking, cybersecurity and so on. <div type="image" title="Mphasis BFSI chart" height="900" width="1200" msid="87358304" hostid="261"></div> Tech investment supercycle will last for next three to five years COVID-19 has enabled work-from-home globally and IT firms are trying hard to provide seamless customer experiences from remote locations with accelerated demand for digital transformation and cloud adoption. Undoubtedly, IT companies have benefited from this phase with IT stocks rallying more than the benchmark index. <div type="ExtQuote" text="“Tech spending is not just within the traditional IT organisations, it's actually coming out of other parts of the business as well. So...we definitely think that the tech investing supercycle will actually last for the next three to five years,”" auname="Nitin Rakesh, chief executive officer at Mphasis in an interview with Business Insider."></div> In the September quarter, the IT firm’s revenue grew 6.6% on a quarterly basis to ₹2,869 crore while profit grew marginally by 0.5% to ₹341 crore. Further, the company is bullish on delivering revenue from its core BFSI segment, which contributes about 50% revenue for the company. “Almost (from) 5-8 quarters in a row, or even when our peers were actually not growing BFSI by 2% 3%, we were growing at double digits, now that they're growing at double digits, we're growing at 25%. So I think this is something that we will continue to focus on, because that is our whole market. But having said that, we also seeded new markets and new engines of growth,” Rakesh told Business Insider. <div type="image" title="Mphasis revenue" height="900" width="1200" msid="87358324" hostid="261"></div> Moreover, analysts believe the company will continue with its industry leading revenue growth. “We believe the company will report an industry-leading double-digit revenue growth rate over FY22E-FY24E [earnings in the next three financial years],” said a report by Reliance Securities. Further analysts at Phillip Capital said that, “With a strong H1 [first half of FY21] growth, strong deal flow and pipeline, we believe direct business is well poised for industry leading growth again in FY22.” <div type="image" title="mphasis" height="900" width="1200" msid="87358339" hostid="261"></div> ALSO WATCH: <div type="Video" msid="86941119" hostid="261" title="TCS is getting a lot of business but it needs hands to deliver them" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=86941119"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/irctc-stock-recovers-losses-as-government-reportedly-withdraws-decision-on-convenience-fee-revenue-share/articleshow/87356555.cms">IRCTC stock recovers losses as government reportedly withdraws decision on convenience fee revenue share</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/shaktikanta-das-to-be-rbi-governor-for-three-more-years-till-december-2024/articleshow/87353252.cms">Shaktikanta Das to be RBI Governor for three more years till December 2024</a>

INTERVIEW: Mphasis CEO explains why he is hiring fewer people even when a lot of employees are leaving the firm

<ul><li>Between 2017-end and March 2020, the SMID indices were down more than 40% relative to the equity benchmark Sensex.</li><li>Morgan Stanley now believes that SMID stocks are now all set to rally on the back of a growth recovery and attractive valuations.</li><li>Aditya Birla Capital, CG Consumer, JustDial and Prestige Estates are some of the stocks that Morgan Stanley is overweight on. </li></ul>Morgan Stanley’s Ridham Desai is bullish on small and mid-cap stocks. In a recent note, he said that after 30 months of struggle, Indian mid and small-cap stocks are poised for outperformance on the back of growth recovery and attractive valuations. The Morgan Stanley report dated August 18 said the small and mid-cap (SMID) stocks went into a prolonged phase of underperformance after peaking in early January 2018. Between the end of 2017 and March 2020, the SMID indices were down more than 40% relative to the equity benchmark Sensex due to various reasons such as growth deceleration and relative valuations. “The COVID-19 related lockdown did not help matters but has marked a floor on the cohort’s relative performance as a forward-looking stock market is possibly anticipating better growth. With monetary aggregates normalizing and significant policy action underway with a corporate tax cut last September, we think growth is set to turn,” the report said. Here’s the list of stocks that Morgan Stanley is betting on: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stocks </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">YTD Gain % </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Capital </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-38% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amara Raja Batteries </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospitals </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Electronics </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CG Consumer </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Exide Industries </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gujarat Gas </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gujarat State Petronet </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indraprastha Gas </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jindal Steel &amp; Power </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39.40% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jubilant FoodWorks </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Just Dial </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-31% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mahindra &amp; Mahindra Financial Services </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-31% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MphasiS </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Multi Commodity Exchange of India </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">46% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Narayana Hrudayalaya </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PNB Housing Finance </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prestige Estates Projects </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shriram City Union Finance </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shriram Transport Finance Co </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">40% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sobha Developers </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Power Co </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9% </td></tr></tbody></table>Source: Morgan Stanley report dated August 18 Morgan Stanley notes that smaller firms are likely to benefit more due to their operating and financial leverage. SMID valuations are looking attractive relative to GDP and money supply, setting the stage for outperformance versus large-cap stocks in the coming months. They are overweight on 22 stocks in the small and mid-cap universe, with a market cap of around US$3.5 billion. Morgan Stanley has also sounded a word of caution on three factors that pose major risks to the outperformance of broader markets — COVID-19 pandemic, lack of structural reforms, and the risk in the financial system. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/ruchi-soya-shares-muthoot-finance-shares-irctc-shares-hal-shares-tata-power-shares-yes-bank-shares-top-stock-movers-on-dalal-street/articleshow/77647940.cms" data-type="tilCustomLink">Top stock movers on Dalal Street today —Ruchi Soya, Muthoot Finance, IRCTC, HAL, Tata Power, Yes Bank and more</a> <a href="https://www.businessinsider.in/business/auto/news/kia-sonet-suv-pre-booking-starts-today-checkout-price-images-specifications-and-other-details/articleshow/77649221.cms" data-type="tilCustomLink">Kia Sonet pre-booking starts today— Here’s all you need to know about price, features and other details</a>

These are small and mid-cap stocks that Morgan Stanley’s Ridham Desai is betting on

<ul><li>The benchmark Nifty50 and the Sensex registered an increase of 3.3-4% in the last week, led by a rally in banking stocks and RIL.</li><li>The India-China border tensions kept investors on the edge, but there is an overall bullish sentiment in the market.</li><li>Based on the June derivatives data, the Nifty50 could end up closing between 10,000-10,500 this week.</li></ul>In the week ended June 19, the Indian share markets registered an increase of more than 4%. This was despite the rapid increase in COVID-19 cases and the escalating India-China tensions on the border. The rally in Sensex and Nifty was led by banking stocks and Reliance Industries (RIL), which <a href="https://www.businessinsider.in/business/startups/news/reliance-share-price-jumps-in-early-trade-because-mukesh-ambani-says-reliance-is-now-net-debt-free/articleshow/76456966.cms">became net-debt free</a> thanks to a spurt of investments in its telecom arm Jio Platforms. A consolidation inevitably follows a market rally, and since we’re towards the end of the month, factors like expiry of June derivative contracts will also have an impact on the share market. <div type="Article" hostid="261" msid="76353024" title="IndusInd Bank, Godrej, Apollo Tyres – some of the biggest gainers in June are stocks where promoters have raised stakes" mstype="2" mssubtype="0"></div> Top 8 factors to watch out for this week India-China tensions at the border The tensions at the India-China border have never been this high in decades, especially after 20 Indian and reportedly 43 Chinese soldiers were killed in action. A lot will depend on whether both the sides honor the June 6 agreement for a peaceful resolution to the matter. Stronger dollar A stronger US dollar has resulted in India’s dollar bonds giving returns of just 3% in June so far, as opposed to 6.8% in May. Only two companies - Rural Electrification Corporation and UPL Ltd have issued dollar bonds this month, totaling to $1 billion. This is the lowest in two years. A stronger dollar also makes it difficult for Indian companies to raise funds from international investors. Expiry of June derivative contracts June futures and options contracts are set to expire on June 25, which is the last Thursday of the month. This could lead to an increase in volatility in the market. Based on data obtained from the NSE, the majority of the open interest in both Put and Call is between the 9,500-10,500 range. Nifty50 closed on June 19 at 10,244, and given the bullish sentiment in the market, it could very well close the week above 10,000. Spurt in COVID-19 cases COVID-19 cases have increased by more than 10,000 on every day of the last week, sparking concerns of a second wave. Total cases in India crossed the 4-lakh mark, meaning India is fourth in the global list now, behind USA, Brazil and Russia. On a positive note, India’s recovery rate has crossed the 50% mark now, so this could boost the market sentiment in the coming days. Economic recovery expectations thanks to Unlock 1.0 With different phases of Unlock 1.0 underway now, expectations of a market recovery have gained after <a href="https://www.outlookindia.com/newsscroll/pm-ruled-out-imposing-lockdown-again-says-telangana-cm/1869112">reports</a> suggested that the Indian government won’t impose lockdown again after June 30. With restrictions easing further, parts of the economy that have been shut down for months will open up for the first time after the nationwide lockdown was announced on March 23. Earnings – <keyword id="6357073" type="UNKNOWN" weightage="20" keywordseo="ITC">ITC</keyword>, Asian Paints, IOC and others Some major large cap companies, and a majority of mid-cap and small-cap companies are expected to announce their Q4 2020 earnings in the last week of June. Some of these companies include ITC, Asian Paints, Indian Oil (IOC), Coal India, India Cements, General Insurance Corporation, IRCTC, Ashok Leyland among others. Foreign investment flows The ongoing India-China border tensions could remain a cause for concern, but foreign investment flows might not be affected as much. An analysis of the FII flows during June so far reveal that the net flow has remained positive. Barring any major flare up in India-China tensions, it is likely that FII flows could increase in June when compared to May. Oil prices Oil prices have remained in the $38-42 range in the last two weeks. However, the Indian government has increased petrol and diesel prices by up to INR 8.88 in the last 15 days, after a 12-week freeze on hike during the lockdown. The Brent crude futures expired at $42.19 on June 19. However, experts suggest that the increase could be subdued as the COVID-19 increase continues to dampen hopes of a global recovery. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-appeals-supreme-court-to-stagger-spectrum-payments-over-20-years/articleshow/76440420.cms">Vodafone Idea says it’s ‘barely afloat’, appeals Supreme Court to stagger spectrum payments over 20 years</a> <a href="https://www.businessinsider.in/finance/news/only-5-of-the-governments-msme-emergency-loan-package-is-disbursed-after-a-month/articleshow/76437386.cms">Only 5% of the government’s MSME emergency loan package is disbursed after a month ⁠— private banks are sitting tight</a> <a href="https://www.businessinsider.in/stock-market/markets/news/indusind-bank-godrej-apollo-tyres-some-of-the-biggest-gainers-in-june-are-stocks-where-promoters-have-raised-stakes/articleshow/76353024.cms">IndusInd Bank, Godrej, Apollo Tyres – some of the biggest gainers in June are stocks where promoters have raised stakes</a>

ITC, Asian Paints, dollar, F&O expiry and rising COVID-19 cases⁠ — 8 factors that will move stocks this week

<ul><li>Private equity giants like <keyword id="6354544" type="UNKNOWN" weightage="20" keywordseo="kkr">KKR</keyword>, the <keyword id="44803" type="CITY" weightage="20" keywordseo="Carlyle-group">Carlyle group</keyword> and others are interested in acquiring a controlling stake in <keyword id="148835" type="COMPANY" weightage="20" keywordseo="JB-Chemicals">JB Chemicals</keyword>, a little-known pharma company in India.</li><li>Although JB Chemicals is a small player in the Indian pharma industry, it has built four strong brands and has market leadership in three of them, which has resulted in industry-beating growth.</li><li>Some of the popular brands that JB Chemicals owns include Metrogyl, Rantac, Cilacar and Nicardia – driving 80-85% of the company’s India formulations revenue.</li></ul>JB Chemicals, a little-known pharma company in India with a market capitalization of ₹4,600 crore is reportedly on the radar of private equity giants around the world. This has sent the stock to an all-time high of ₹621 in intra-day trade. JB Chemicals is a relatively small player when it comes to the Indian pharmaceutical industry, behind giants like Sun Pharma, Dr Reddy’s and others. However, its inexpensive valuation, strong growth and a healthy balance sheet have private equity giants interested in it. <div type="Article" hostid="261" msid="75425845" title="IRCTC share price has jumped 30% in April so far despite the lockdown that’s halted trains, ticketing, and even Rail Neer sales" mstype="2" mssubtype="0"></div> According to a <a href="https://economictimes.indiatimes.com/markets/stocks/news/jb-chemicals-jumps-5-as-four-pe-firms-in-race-to-acquire-promoter-stake/articleshow/75569688.cms">report</a> by Economic Times, global private equity players KKR, the Carlyle group, Apax Partners and PAG are interested in acquiring a controlling stake in JB Chemicals. Its promoters, Jyotindra Bhagawanlal Mody and family are said to be in talks to sell their 56% stake in the company. The acquisition is valued at ₹5,000 crore ($650 million), which is 9% higher than JB Chemicals’ current market cap of ₹4,600 crore ($600 million). The news has sent the company’s stock rallying, hitting an all-time high of ₹621 before closing at ₹603 on Wednesday, May 6. <div type="image" title="JB Chemicals stock" msid="75574593" hostid="261"></div> Here’s what makes JB Chemicals an attractive acquisition Inexpensive valuation and healthy free cash flows The company’s valuation at ₹5,000 crore is inexpensive, according to a report by market research firm IIFL Securities dated January 17, 2020. Apart from this, it also has healthy free cash flows, which make up 22% of the company’s balance sheet. Since then, the valuation has only gone down as the share price cracked in the coronavirus carnage. Four strong brands with market leadership in three of them <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top 4 brands </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Other products </td></tr><tr><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY16 </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">85% </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY17 </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">86% </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td></tr><tr><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY18 </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">86% </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td></tr><tr><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">86% </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td></tr></tbody></table> Instead of spreading itself thin with several products, JB Chemicals has focused on building a few large brands like Cilacar, Rantac, Metrogyl and Nicardia. Out of these, it has market leadership in three, which together account for 80-85% of the company’s revenue. Focusing on these core brands has also helped JB clock in growth of 17-22% over the last two years. Out of these, Cilacar and Nicardia, the two cardiovascular brands, have grown by more than 20% in the past four years. Outperforming industry growth in the past seven years JB Chemicals’ focus on building strong brands in the cardiovascular and gastrointestinal segments has helped it outperform industry growth for seven years straight. “This outperformance vs. the industry has been driven by increasing exposure to chronic therapies, as contribution of chronic products in the company’s India revenue mix has expanded from 29% in 2016 to 42% in 2019,” says a report by IIFL Securities. See also: <a href="https://www.businessinsider.in/stock-market/news/airtel-shares-set-for-a-catch-up-rally-after-reliance-jio-takes-a-huge-valuation-lead/articleshow/75533860.cms">Airtel shares set for a catch up rally after Reliance Jio takes a huge valuation lead</a> <a href="https://www.businessinsider.in/business/news/the-way-bhel-is-trying-to-turn-the-tide-is-a-sign-of-how-india-wants-to-capitalise-on-us-china-tensions/articleshow/75548309.cms">The way BHEL is trying to turn the tide is a sign of how India wants to capitalise on US-China tensions</a> <a href="https://www.businessinsider.in/finance/news/irctc-share-price-has-jumped-30-in-april-so-far-despite-the-lockdown-thats-halted-trains-ticketing-and-even-rail-neer-sales/articleshow/75425845.cms">IRCTC share price has jumped 30% in April so far despite the lockdown that’s halted trains, ticketing, and even Rail Neer sales</a>

JB Chemicals, a little-known pharma company in India is now on the radar of private equity giants around the world – here’s why

<ul><li>Sensex was trading over 0.77% higher; while the Nifty was up 0.72% as of 09:55 am.</li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market index Sensex jumped over 250 points in early trade on Thursday led by gains in index majors Reliance Industries, ICICI Bank and amid positive cues from global markets. Sensex was trading over 0.77% higher; while the Nifty was up 0.72% as of 09:55 am. These were the top losers and gainers in the Nifty pack: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infratel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI India </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zee Entertainment </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td></tr></tbody></table>*as of September 10, 9:30 am These are the top stocks that are buzzing in trade today: Bank of Baroda shares gain 3% PSU Bank stocks are rallying in trade today. Bank of Baroda is up 3%, along with Canara Bank gaining 2% and Bank of India 4%. RIL hits record high The shares of Mukesh Ambani owned Reliance Industries were trading 3% higher during the early trading hours on September 10. The shares had hit a record high mark by topping ₹2,200 a piece for the first time. <a href="https://economictimes.indiatimes.com/industry/services/retail/ril-looks-to-sell-15-in-retail-biz-to-pes-swfs-for-63k-cr/articleshow/78028786.cms?from=mdr">Reports </a>also indicate that after Silver Lake, investors like KKR, Abu Dhabi Investment Authority, and Saudi Arabia’s Public Investment Fund could be next in line to pick stakes in Reliance Retail Limited. Future Retail hits 5% upper circuit The shares of Future Retail were locked in a 5% upper circuit after the company lost nearly 40% of the stock value in the last one week, since the acquisition by Reliance Retail. The 5% jump came after <a href="https://economictimes.indiatimes.com/industry/services/retail/ril-looks-to-sell-15-in-retail-biz-to-pes-swfs-for-63k-cr/articleshow/78028786.cms?from=mdr">reports </a>indicated a potential investment for RIL retail arm Reliance Retail from investors like KKR, Abu Dhabi Investment Authority, and Saudi Arabia’s Public Investment Fund. Bharat Dynamics snaps two days of losses Bharat Dynamics snapped two-day loss and turned positive, gaining over 2% after the Indian government said it mobilised ₹776 crore by divesting nearly 13% in the company. The offer for sale (OFS) had hit the market with the government selling over 2.74 crore shares in BDL at a floor price of ₹330 a piece. Indiabulls Housing Finance opened 3% higher The shares of Indiabulls Housing Finance opened 3% higher after the company launched its qualified institutional placement (QIP) on Wednesday. Indiabulls Housing is looking to raise ₹1,000 crore and has set the floor price for the QIP at ₹206.70 per equity share. Zeal Aqua, Apex Frozen Foods, Coastal Corporation and other fisheries stocks gain Zeal Aqua, Apex Frozen Foods, Coastal Corporation and other fisheries stocks gain ahead of PM Matsya Sampada Yojana. PM Narendra Modi will digitally launch the scheme today. The scheme will be aimed at the sustainable development of the fisheries sector in the country with an estimated investment of <a href="https://www.narendramodi.in/prime-minister-narendra-modi-to-launch-pradhan-mantri-matsya-sampada-yojana-on-10th-september-551321">₹20,050 crores for its implementation</a> during a period of 5 years. ICICI Bank, HDFC Bank IndusInd Bank and SBI trade in green The shares of Banking giants ICICI Bank, HDFC Bank, IndusInd Bank and SBI were trading in green today (September 10). The shares of ICICI Bank and HDFC Bank were up 1%, whereas SBI gained 2%. The Supreme Court of India is slated to hear petitions seeking a waiver of interest on loans under moratorium today. Tata Motors shares gain 3% The shares of Tata Motors gained 3% after the company emerged as a strong number third passenger vehicle (PV) brand by <a href="https://www.thehindubusinessline.com/companies/passenger-vehicles-tata-motors-emerges-as-no-3-helped-by-new-products-campaigns/article32562617.ece">sales after Maruti and Hyundai</a>. HUL trades in red after DCGI notice The shares of FMCG giant Hindustan Unilever Limited were trading nearly a percent lower after Central Drugs Standard Control Organisation (CDSCO) served a show-cause notice to the company over an advertisement of its Lifebuoy brand of hand sanitiser. In its advertisement, HUL claimed that the Lifebuoy immunity-boosting hand sanitiser improves immunity and helps fight coronavirus. SEE ALSO: <a href="https://www.businessinsider.in/business/news/yatra-failed-merger-with-ebix-dents-the-companys-earnings-in-an-already-troubled-quarter/articleshow/78031342.cms" data-type="tilCustomLink">Yatra's failed merger with Ebix dents the company's earnings in an already troubled quarter</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-irctc-adani-power-future-consumer-future-retail-bharat-dynamics-hal-indiabulls-housing-finance-and-more/articleshow/78030185.cms" data-type="tilCustomLink">Top stocks to watch— IRCTC, Adani Power, HDFC Bank, ICICI Bank, Future Consumer, Future Retail, Bharat Dynamics, HAL, Indiabulls Housing Finance and more</a>

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