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A major controversy has erupted surrounding the renowned <keyword id="23237741" type="General" weightage="100" keywordseo="Tirupati-laddu" source="keywords">Tirupati laddu</keyword>, a sacred offering from the Tirumala Venkateswara Temple in Andhra Pradesh, after allegations surfaced about the use of animal fat in its preparation. The ruling Telugu Desam Party (<keyword id="19910623" type="General" weightage="20" keywordseo="TDP" source="keywords">TDP</keyword>) has accused the previous <keyword id="19973324" type="General" weightage="20" keywordseo="YSR-Congress-Party" source="keywords" meta.keywordsubtype="org" meta.entityname="YSR Congress Party" meta.hostid="261" meta.entityid="YSR Congress Party">YSR Congress Party</keyword> (YSRCP)-led government of adulterating the prasadam, a claim that has sent shockwaves through the Hindu community. <h2>The allegations</h2>The controversy began when TDP leader Nara Lokesh, son of Andhra Pradesh Chief Minister N. <keyword id="19926151" type="General" weightage="20" keywordseo="Chandrababu-Naidu" source="keywords">Chandrababu Naidu</keyword>, raised accusations against the former YSRCP government, led by Y. S. Jagan Mohan Reddy. Lokesh alleged that during YSRCP's tenure (2019–2024), the Tirumala Tirupati Devasthanams (TTD) used adulterated ingredients, including animal fat, in the preparation of the sacred Tirupati laddu. He stated, "The previous government maintained Tirumala Tirupati Devasthanams (TTD) solely for their own and their partners' welfare. We exposed substandard Tirumala laddu production using animal fat, supported by lab reports." Lokesh further emphasised that the TDP government has since taken corrective steps by appointing a new Executive Officer (EO) to manage TTD, ensuring that quality standards are upheld. "CM Chandrababu Naidu has directed officials to maintain the quality of prasadam. The NDA government will bring new reforms to TTD and restore its past glory," he added. <h2>Lab report confirms presence of animal fat</h2>TDP spokesperson Anam Venkata Ramana Reddy shared findings from a Gujarat-based lab, NDDB CALF Ltd, which allegedly confirmed the use of <keyword id="23237743" type="General" weightage="20" keywordseo="beef-tallow" source="keywords">beef tallow</keyword>, lard (pig fat), and fish oil in the ghee samples provided by TTD during the YSRCP regime. The samples, collected in July 2024, were reportedly found to contain these animal-derived fats instead of pure cow ghee, sparking outrage among devotees. "The lab reports certify that beef tallow, animal fat, lard, and fish oil were used in the preparation of ghee, which was supplied to Tirumala. This is an affront to the Hindu religion," Reddy stated. <h2>Political reactions and condemnations</h2>The allegations have stirred strong reactions across political lines. Andhra Pradesh Chief Minister Chandrababu Naidu described the alleged adulteration as a grave insult to the religious sentiments of millions of Hindus. "Even Tirumala laddu was made with substandard ingredients... they used animal fat instead of ghee," he said while addressing the NDA legislature party meeting. Naidu’s son, Nara Lokesh, also took to social media to express his shock and condemnation, tweeting, "The Lord Venkateswara Swamy Temple at Tirumala is our most sacred temple. I am shocked to learn that the YSJagan administration used animal fat instead of ghee in the Tirupati Prasadam." On the other hand, Bhanuprakash Reddy, a former TTD Board Member and BJP leader, strongly condemned the use of animal fat in the revered prasadam and said that they would file a formal complaint against Jagan Mohan Reddy and other officials involved. "During Jagan Mohan Reddy's tenure, TTD used pure cow ghee to prepare laddu. Unfortunately, that was adulterated with vegetable oil and animal fat. This is a very bad thing that happened in the history of Tirumala. We are very sad, and we condemn the issue," Bhanuprakash told ANI. The Vishva Hindu Parishad (VHP) has also demanded swift action against those responsible, with its national spokesperson, Vinod Bansal, calling the allegations a "serious issue" and asserting, "Punish those who used animal fat in Tirupati laddu prasadam." <h2>YSR Congress Party denies allegations</h2>Despite the lab reports and mounting political pressure, the YSRCP has vehemently denied the allegations. Senior party leader and former TTD chairman Y.V. Subba Reddy termed the claims "malicious" and accused the TDP of fabricating the issue for political gains. "TDP supremo Chandrababu Naidu will stoop to any level for political gains. These allegations are nothing but an attempt to tarnish the previous government's image," Reddy said. While the TDP continues to push for accountability, the YSRCP remains firm in its stance, dismissing the claims as baseless. Amid the escalating controversy, K. Laxman, President of BJP OBC Morcha, has called for legal action, stating that the Hindu community’s sentiments have been deeply hurt. "The entire Hindu community all over the world condemns the action of the then government. We demand the present Chandrababu-led NDA government take firm legal action against the officials and persons concerned," Laxman asserted. As the scandal unfolds, devotees and political leaders alike await further clarity on the veracity of the lab reports and the actions that will be taken against those involved. For now, the TDP government has reassured devotees that pure cow ghee is once again being used in the preparation of the Tirupati laddu, a move aimed at restoring trust in the <keyword id="23244487" type="General" weightage="20" keywordseo="sacred-prasadam" source="keywords">sacred prasadam</keyword>. (With inputs from agencies)

Tirupati laddu controversy: Gujarat lab confirms presence of various animal fats in the sacred prasadam — here’s all we know

<ul><li>Pharma company stocks is the only sector gaining in the weak market on Wednesday on optimism to sell anti-covid drugs approved by the drug regulator.</li><li>The pharma regulator gave approval to sell <keyword id="10880838" type="General" weightage="20" keywordseo="molnupiravir" source="Orion">Molnupiravir</keyword> drug, which is an anti-COVID pill, for emergency use in the country.</li><li><keyword id="44642" type="General" weightage="20" keywordseo="sun-pharma" source="Orion">Sun Pharma</keyword>, <keyword id="6357157" type="General" weightage="20" keywordseo="cipla" source="Orion">Cipla</keyword>, Torrent Pharma and <keyword id="4569824" type="General" weightage="20" keywordseo="strides-pharma" source="Orion">Strides Pharma</keyword> have already announced plans to launch their version of this pill soon amid rising spread of Omicron in the country.</li></ul>Pharmaceutical company stocks were the top gainers in a weak market on December 29 as the segment cheered pharma regulator’s — Drugs Controller General of India (DCGI) — approval of anti-covid pill for emergency use in the country. The move comes amid rising spread of Omicron cases in the country. Indian companies will manufacture a generic version of Merck's anti-COVID pill Molnupiravir in India. Molnupiravir is an antiviral medication that is used to treat COVID-19 in those infected. The drug was developed by US-based firms Merck and Ridgeback Biotherapeutics. The development has brought some optimism for pharma stocks that have been underperforming the market for more than a year. <table style="border-width: initial; border-style: none;"></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;">Top performing pharma stocks on December 29 </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;">% of change </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;">% returns in 2021 </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;">2.38% </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;">53% </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 Reddy’s 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;">1.61% </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;">-8% </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;">Sun Pharmaceuticals </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;">1.58% </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;">38% </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;">1.41% </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% </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;">Alembic Pharmaceuticals </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;">1.13% </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;">-22% </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;">Divi’s 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;">1.67% </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;">19% </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;">1.08% </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;">14% </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;">Glenmark Pharmaceuticals </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;">1.07% </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;">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;">1% </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% </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;">0.97% </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;">-22% </td></tr></tbody></table> While Indian companies are manufacturing a generic version from US-based pill, they will market the pill under their respective brands and sell them in pharmacies and COVID-19 treatment centres. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">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;">Anti-COVID pill </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;">Sun Pharmaceuticals </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;">Molxvir </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;">Torrent Pharmaceuticals </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;">Molnutor </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;">Cipmolnu </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;">Strides Pharma Science </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;">Stripiravir </td></tr></tbody></table>Earlier this year, US-based pharma company Merck had signed non-exclusive voluntary licensing agreements with over eight Indian companies to manufacture and supply generic versions of Molnupiravir in over 100 low and middle-income countries (LMICs), including India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/the-ipo-excitement-may-be-softer-in-2022-but-that-can-be-a-good-thing-for-investors/articleshow/88557624.cms">The IPO excitement may be softer in 2022 but that can be a good thing for investors</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/india-is-home-to-81-unicorns-now-as-mamaearth-globalbees-make-it-to-the-list/articleshow/88558418.cms">India is home to 81 unicorns now as Mamaearth, Globalbees make it to the list</a>

Sun Pharma, Dr Reddy’s Lab, Divi’s Lab and other pharma stocks rally on regulator’s nod to make anti-COVID pill

<ul><li>All the four brands have a combined market size of ₹1800 crore and accounted for as much as ₹33 crore in revenues in FY22.</li><li>The pharma company will take over the manufacturing, marketing and distribution of these brands in India.</li><li>The integration and transition of the brands are expected to be completed in the next two weeks.</li></ul>KKR-backed <keyword id="505502" type="General" weightage="80" keywordseo="jb-chemicals-and-pharmaceuticals" source="Orion">JB Chemicals and Pharmaceuticals</keyword> said that it acquired four pediatric brands — Z&amp;D, Pedicloryl, Pecef and Ezinapi from <keyword id="177825" type="General" weightage="20" keywordseo="Dr-Reddys-Laboratories" source="Orion">Dr Reddy’s Laboratories</keyword>. The acquisition has been done for a cash consideration of ₹98.3 crore, excluding working capital and taxes. All the four brands have a combined market size of ₹1800 crore and accounted for as much as ₹33 crore in revenues in FY22. “Overall, the brands acquired have significant growth potential to strengthen our already established presence in the pediatric category, which is synergistic to our current portfolio, speciality depth and geographical presence,” said <keyword id="1217" type="General" weightage="80" keywordseo="nikhil-chopra" source="Orion">Nikhil Chopra</keyword>, CEO at <keyword id="5340080" type="General" weightage="20" keywordseo="JB-Pharma" source="Orion">JB Pharma</keyword>. Z&amp;D produces zinc supplements used for boosting immunity. Pedicloryl oral solution is used in children in hospitals for idiopathic pain management. Pecef caters to the bacterial infections as well as respiratory tract infections in children. Ezinapi cream is used as an emollient for diaper rashes in infants. JB Pharma will take over the manufacturing, marketing and distribution of these brands in India. “It will also help us significantly leverage our on-the-ground field force strength and widen our offerings in the pediatric basket - comprising gut health and respiratory infection products for healthcare professionals across the country,” said Chopra. The integration and transition of the brands are expected to be completed in the next two weeks. “All the four brands have a lion’s share in their respective spaces. We will continue to focus on evaluating opportunities for strengthening our India domestic business,” Chopra added. According to media <a href="https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/jb-pharma-acquires-paediatric-brands-from-dr-reddys-for-rs-98-3-crore/articleshow/92590368.cms">reports</a>, the pharma company has been looking out for companies to acquire in the domestic market. It had also acquired brands from Sanzyme — which deals in probiotics and reproductive health for ₹628 crore in January. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/ambani-and-adani-valuations-surge-while-tatas-birlas-see-major-declines-in-the-first-half-of-2022/articleshow/92593235.cms">Ambani and Adani valuations surge while Tatas, Birlas see major declines in the first half of 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/telecom-gear-firm-parallel-wireless-lays-off-500-employees-including-in-india/articleshow/92592940.cms">Telecom gear firm Parallel Wireless lays off 500 employees including in India</a>

JB Pharma acquires four pediatric brands of Dr Reddy’s Labs for ₹98.3 crore

<ul><li>Dr Reddy’s Laboratories reported a 1.5% decline in consolidated net profit to ₹570 crore in June quarter.</li><li>The company’s business in North America grew 1% year-on-year while its sales fell 1% on a quarterly basis.</li><li>Shares of one of the biggest pharmaceutical companies in the country were down 10% on July 27.</li></ul>Shares of Dr Reddy’s Laboratories hit a 10% lower circuit after the company posted a 1.5% decline in year-on-year net profit for the June quarter. The pharmaceutical company’s profit for June quarter was almost flat at ₹570 crore compared to ₹579 crore in the same period last year. Its North American business grew by merely 1% on a yearly basis and fell 1% on a quarterly basis on account of price erosion in some products and despite a launch of 6 new products. Also, the company’s total expense rose by nearly 25% to ₹4,513 crore in June quarter 2021 on the back of rising expenses in impairment of non-current assets, cost of materials consumed, purchase of stock in trade and employee benefit expense. On the other hand, the company’s revenue grew by 11% year-on-year to ₹4,919 crore. It saw a strong 69% year-on-year growth in its India business led by increase in sale of COVID-19 drugs due to the severe second wave witnessed in India. “We believe that the weaker set of numbers reported by Dr.Reddy’s Laboratories are due to sales degrowth in the active pharmaceutical ingredients (API) business and muted sales growth in the USA business. India business and Europe business have reported sales growth of 69% and 12% respectively. Companies' margins are down significantly and were below the market expectation,” said Yash Gupta, equity research associate at Angel Broking. <div type="image" title="dr reddys chart" height="900" width="1200" msid="84788758" hostid="261"></div> Further, the company has increased its expenses under research and development to focus on a healthy pipeline of new products pertaining to COVID-19 treatment. "The financial performance of the quarter has been driven by healthy sales growth. I am confident about improving our margins in the upcoming quarters, which will be led by the scale up of recent launches, new product launches and productivity, said the company’s co-chairman and managing director, G V Prasad. At 2:48 p.m., July 27, Dr Reddy’s Laboratories shares were trading 10% lower at ₹4,880 and BSE Healthcare index was also down 3%. Dr Reddy’s is among the top five companies having the highest market share in the healthcare index, shows data by Moneycontrol. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/inox-leisure-pvr-shares-shine-on-hopes-of-theatres-reopening-soon/articleshow/84785887.cms">Inox Leisure, PVR stocks shine on hopes of theatres reopening soon </a> <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musks-tesla-second-quarter-earnings-show-that-its-bitcoin-holding-cost-the-company-23-million-in-impairment/articleshow/84784933.cms">Elon Musk’s Tesla second-quarter earnings show that its Bitcoin holding cost the company $23 million in impairment </a>

Dr Reddy’s Laboratories shares drop more than 10% on fall in profit

<ul><li>Indian benchmark stock indices, Sensex and <keyword id="2931774" type="PERSON" weightage="20" keywordseo="Nifty50">Nifty50</keyword>, dropped over a percent and hit a six-week low in trade today (March 18)</li><li>The second wave of COVID-19 infection dents sentiment in the world’s fifth-largest economy.</li><li>While the market seems to be fearing another crash in economic activity, the most recent data does not seem to indicate that.</li><li>The Nomura India Business Resumption Index (NIBRI) for the week ending 14 March was short of the pre-pandemic normal by just 4.3 percentage points.</li></ul>Investors lost about ₹3 lakh crore on the fifth straight day of losses in the Indian share market. The total loss in market capitalisation over the last five days has been nearly ₹9 lakh crore (about $124 billion), according to broking firm Reliance Securities. Indian benchmark stock indices, Sensex and Nifty50, dropped over a percent and hit a six-week low in trade today (March 18) as the second wave of COVID-19 infection dents sentiment in the world’s fifth-largest economy. While the sell-off in Indian shares hit nearly all sectors, tech stocks led by HCL Tech and Infosys and pharma stocks led by Dr Reddy’s Laboratories and Divi’s Laboratories were the worst hit. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Nifty50 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;">March 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;">HCL Tech </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;">-3.79% </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;">Infosys </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;">-3.37% </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 Reddy’s 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;">-3.05% </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;">Divi’s 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;">-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;">Hero Moto </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;">-2.68% </td></tr></tbody></table> “A sharp rise in daily Covid-19 cases in India has raised apprehensions about sustainability of ongoing rebound in corporate earnings,” Binod Modi, head of strategy at Reliance Securities said. However, he believes that “stringent measures by the administration” can control the current wave of COVID-19 infections and the sell-off, in the meantime, may pull down shares to bargain prices. The day started on a positive note as the Federal Reserve seemed less worried about inflation in the US. A rise in inflation in the US would force the American central bank to increase interest rates, making it more attractive for global investors to pull money out of emerging markets like India and invest it in the US. This was the overwhelming fear in the run up to the Fed meet and it had come undone at the end of it. As the Fed Chairperson Jerome Powell downplayed the inflation risk in the US, the dollar weakened against all major currencies. A weaker dollar hurts Indian exporters. That would explain the sharp fall in marquee stocks like Infosys and HCL Tech (where the earnings expectations are still strong) as well as drug exporters like Dr Reddy’s Labs. But the confidence among the bulls wasn’t strong enough to overcome the fear of a resurgent pandemic. ITC was the top gainer among large-cap stocks today followed by Bajaj Auto, Hindalco and Bharti Airtel. The sell-off in the mid and small-cap segments was equally brutal as the large-cap indices Sensex and Nifty50. While the market seems to be fearing another crash in economic activity, the most recent data does not seem to indicate that. The Nomura India Business Resumption Index (NIBRI) picked up to 95.7 for the week ending 14 March. That’s a 4.3 percentage point short of the pre-pandemic normal. Essentially, the report dated March 15 showed that Indians are going about their business as usual, not bothered by the latest wave of infections. And that economic activity is nearly as good as it was before the pandemic. But as far as the share market goes, the bears seem to be in charge of the narrative. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/kishore-biyani-future-group-appeals-to-the-singapore-arbitrator-to-exclude-future-retail-from-the-fight-with-amazon/articleshow/81562016.cms">Ahead of Delhi High Court's decision, Future Group appeals to the Singapore arbitrator to exclude Future Retail from the fight with Amazon</a> <a href="https://www.businessinsider.in/business/startups/news/indian-spacetech-startup-pixxel-space-gets-7-3-million-funding-before-the-launch-of-its-first-satellite/articleshow/81562421.cms">Indian spacetech startup Pixxel gets $7.3 million in funding as it announces a new product even before the launch of its first satellite</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-adds-3-times-more-subscribers-than-reliance-jio-vodafone-idea-turns-positive-for-the-first-time-in-15-months/articleshow/81562851.cms">Airtel adds 3 times more subscribers than Jio while Vodafone Idea gets net addition first time in 15 months</a>

Investors have lost nearly ₹9 lakh crore in last five days as the spike in COVID-19 cases bursts the market bubble

<ul><li>Indian pharmaceutical company <keyword id="46698" type="CITY" weightage="20" keywordseo="Lupin">Lupin</keyword> has confirmed an ‘information security incident’ that has affected multiple internal systems.</li><li>The incident comes within weeks of a ransomware attack on Dr Reddy’s Laboratories. </li><li>The average cost of a data breach in the healthcare industry is $7.3 million — 84% higher than the global average across all sectors.</li></ul>Another leading Indian pharmaceutical, Lupin, has reported a cybersecurity attack on its IT systems within two weeks of a ransomware attack on Dr Reddy’s Laboratories. “We have recently experienced an information security incident that has affected several of our internal IT systems. This has not impacted our core systems and operations,” Lupin told <a href="https://www.thehindubusinessline.com/companies/lupin-confirms-security-incident-days-after-dr-reddys-cyber-attack/article33029527.ece">Hindu Business Line</a> in a statement. In October, Dr Reddy’s Laboratories had to ‘isolate’ its servers and took ‘preventive actions’ in the wake of a ransomware attack. The attack also <a href="https://www.businessinsider.in/india/news/dr-reddys-shares-fell-over-3-the-drug-maker-isolated-all-data-service-centers-after-a-cyber-attack/articleshow/78806238.cms">reportedly</a> forced the company to shut down its manufacturing facilities across the world to minimise the attack’s impact. The incidence of hackers trying to breach the firewalls of the healthcare industry have only increased during the coronavirus pandemic.To be fair, the Indian healthcare industry isn’t particularly careful about connecting to the internet. For instance, in June, the CEO of Hackrew and IIT Guwahati graduate <a href="https://medium.com/bugbountywriteup/how-screwed-is-indian-healthcare-data-fa4584be8a04">Sai Krishna Kothapalli</a> was able to view, edit and delete classified personal information of lakhs of patients all over India. Healthcare industry faces the most expensive data breaches “Financially motivated criminal groups continue to target this industry via ransomware attacks,” said Verizon’s annual Data Breach Investigations Report 2020. To make matters worse, the average cost of a <keyword id="10183471" type="UNKNOWN" weightage="20" keywordseo="cybersecurity-breach">cybersecurity breach</keyword> in the healthcare industry is higher than any other sector at a whopping $7.3 million. <div type="image" title="Average total cost of a data breach by industry (1)" msid="79061658" hostid="261" caption="&amp;lt;p&amp;gt;Average total cost of a data breach by industry&amp;lt;/p&amp;gt;"></div> Even though this figure varies across geographies, the average cost of a <keyword id="10226939" type="UNKNOWN" weightage="20" keywordseo="data-breach-in-healthcare">data breach in healthcare</keyword> has been the most expensive for over a decade, according to <a href="https://www.ibm.com/in-en/security/data-breach">IBM’s Cost of a Data Breach 2020</a> report. This year was a 10% increase over 2019 and 84% higher than the global average. Healthcare industry takes nearly a year to track down cybersecurity issues While some data breaches can be attributed to human error or a system glitch, already 50% of them in the healthcare sector are due to malicious attacks. The healthcare industry also takes the longest amount of time to detect a breach and then contain the attack. IBM pegs the average time to around 329 days — that’s nearly a full year of data being exposed. <div type="image" title="Average time to identify and contain a data breach by industry" msid="79061682" hostid="261" caption="&amp;lt;p&amp;gt;Average time to identify and contain a data breach by industry&amp;lt;/p&amp;gt;"></div> However, India is not alone in its struggle. Other countries around the world are also grappling with the new onslaught of cyberattacks in the healthcare sector. Germany, for example, is trying to get ahead of the curve by enacting a new law for patient data protection and increased digitisation in health. In July, it already <a href="https://www.insideprivacy.com/health-privacy/germany-prepares-new-law-for-patient-data-protection-and-increased-digitalisation-in-healthcare-and-for-data-donations-for-research-purposes/">passed the draft bill</a> and is expected to come into force before the end of the year. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/india-is-willing-to-challenge-the-status-quo-says-defence-minister-while-outlining-the-four-core-principles-behind-the-countrys-security-policy/articleshow/79059040.cms">India is willing to challenge the status quo and protect against ‘unilateralism and aggression,’ says Defence Minister Rajnath Singh</a> <a href="https://www.businessinsider.in/science/environment/news/india-demands-environment-friendly-technology-to-be-made-available-at-affordable-prices-to-battle-climate-change/articleshow/79056886.cms">India demands environment-friendly technology to be made available at affordable prices to battle climate change</a> <a href="https://www.businessinsider.in/finance/banks/news/rbi-and-indian-banks-wait-as-supreme-court-adjourns-loan-moratorium-hearing-to-november-18/articleshow/79057919.cms">RBI and banks caught in the crosshairs as the Supreme Court adjourns loan moratorium hearing for a second time to November 18</a>

Another Indian pharmaceutical giant reports cybersecurity breach within two weeks of ransomware hack on Dr Reddy’s

<ul><li>Dr. Reddy’s Laboratories <a href="https://timesofindia.indiatimes.com/business/india-business/dr-reddys-launches-remdesivir-to-treat-covid-19-in-india/articleshow/78015814.cms">launched</a> generic drug <keyword id="8775508" type="UNKNOWN" weightage="20" keywordseo="remdesivir">Remdesivir</keyword> under the brand name Redyx in India on September 9. </li><li>Redyx will be available in the market for ₹5,400 per 100 mg vial. </li><li><keyword id="72130" type="COMPANY" weightage="20" keywordseo="Zydus-Cadila">Zydus Cadila</keyword>, on August 13, launched the cheapest version of Remdesivir under the brand name Remdac. </li><li>Apart from <keyword id="6357157" type="UNKNOWN" weightage="20" keywordseo="cipla">Cipla</keyword> and <keyword id="1167725" type="PERSON" weightage="20" keywordseo="Hetero-Labs">Hetero Labs</keyword>, Jubilant Lifesciences and Mylan are working to manufacture the drug in India. </li></ul>Dr Reddy’s Laboratories has <a href="https://timesofindia.indiatimes.com/business/india-business/dr-reddys-launches-remdesivir-to-treat-covid-19-in-india/articleshow/78015814.cms">launched</a> the generic drug Remdesivir under the brand name Redyx in India. Remdesivir used to treat patients suffering from severe symptoms of COVID-19. Redyx will be available in the market for ₹5,400 per 100 mg vials. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Company </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;">Brand </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;">Remdesivir 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;">Zydus Cadila </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;">Remdac </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;">₹2800 </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;">Hetero 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;">Covifor </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;">₹5000-₹6000 </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 Reddy </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;">Redyx </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;">₹5400 </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;">Cipremi </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;">₹4000</td></tr></tbody></table> Dr Reddy’s Lab is the sixth pharmaceutical company to introduce Remdesivir in India. On August 13, Zydus Cadila launched its own version of Remdesivir called Remda in the Indian market. Remdac is priced at ₹2,800 per 100 mg vial, making it the cheapest version of the drug so far. Zydus Cadila said that the drug will be made available across India through the group's strong distribution chain reaching out to government and private hospitals treating COVID-19 patients. In June this year, Zydus had entered into a non-exclusive agreement with Gilead Sciences Inc to manufacture and sell Remdesivir, the investigational drug, which has been issued an emergency use authorisation by the US Food and Drug Administration (USFDA) to treat patients suffering from severe symptoms of COVID-19. Previously, pharmaceutical giants Cipla and Hetero introduced generic versions Remdesivir — an antiviral drug first used to treat Ebola — to fight coronavirus. The drug was launched in India in July. India’s Health Ministry approved use of the drug to treat mild cases of coronavirus. However, the drug is not recommended to treat those who have several renal impairment, pregnant and lactating women, children below 12 years age. Hetero said it will make its version of Remdesivir — Covifor — available between ₹5,000 to ₹6,000 for a vial. Whereas, Cipla's Cipremi is available for ₹4000 for per 100 mg vial. Cipla’s Cipremi is available for only those patients who are on oxygen support. Apart from Cipla and Hetero Labs, Jubilant Lifesciences and Mylan are also working to manufacture the drug in India. Dr Reddy’s Laboratories, Biocon firm Syngene and has also received voluntary permission from Gilead Sciences to produce Remdesivir in India. (With inputs from PTI) SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/why-the-latest-surge-in-covid-19-infections-in-india-may-cause-more-deaths/articleshow/78011731.cms">What India’s rising COVID-19 infections don’t⁠ reveal — the lack of health infrastructure in remote areas</a>

These are the companies that are making Remdesivir in India

<ul><li>At 7:40 am, the SGX Nifty was down 0.58%, indicating a slow start for Nifty50.</li><li>Here’s a list of stocks to watch for 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 indices are likely to start on a tepid note on Wednesday, led by mixed cues from the global markets. At 7:40 am, the SGX Nifty was down 0.58%, indicating a slow start for Nifty50. However, on Tuesday, the <a href="https://www.businessinsider.in/stock-market/news/sp-500-and-nasdaq-close-at-record-highs-as-investors-bet-that-a-vaccine-will-drive-an-economic-rebound/articleshow/79520724.cms">US stocks closed at record highs</a> as investors bet that a vaccine will drive an economic rebound. The Dow Jones Industrial Average closed 185.28 points higher, and the S&amp;P 500 was up 1.13%. These are the stocks to watch out for during the trading session today: Dr Reddy’s Laboratories Dr Reddy’s Laboratories and Russian Direct Investment Fund (RDIF) on Tuesday said they had commenced adaptive phase 2/3 clinical trials for the Sputnik V COVID-19 vaccine in India. The trials have commenced after receiving the necessary clearance from the Kasauli-based Central Drugs Laboratory, the company said. Hero MotoCorp Hero MotoCorp reported a 13.82% year-on-year rise in its domestic wholesale for November, led by a robust recovery in sales of its entry-level motorcycles in rural and semi-urban markets. The exports rose by 40.37% during the month. Eicher Motors Eicher Motors has registered a growth of 3.2% YoY in its November sales led by domestic sales of Eicher trucks and buses. TVS Motor TVS Motor sales grew by 21% registering 322,709 units in November 2020 as against 266,582 units in November 2019. Phoenix Mills Phoenix Mills (PML) and its subsidiaries have signed a non-binding term-sheet with an affiliate of Singapore’s sovereign wealth fund GIC for formation and development of to set up a retail-led mixed-use platform. The proceeds from the proposed transaction are intended to be utilized as growth capital for further expansion and acquisition of greenfield, brownfield, operational and distressed mall opportunities, Phoenix said in a statement. Coal India State-owned Coal India on Tuesday reported a 3.4% rise in production at 51.7 million tonnes (MT) in November. Reliance Power Reliance Power defaults on interest payments due on term loans from Axis Bank, Yes Bank and IDBI Bank. The company has a total financial indebtedness of ₹1,360 crore. Praj Industries Tata Capital Financial Services sold 11.6 lakh shares in Praj Industries at an average price of ₹91.16/share. Burger King India Burger King India <a href="https://www.businessinsider.in/business/corporates/news/burger-king-grey-market-premium-and-heres-what-brokerages-say-about-the-ipo-opening-tomorrow/articleshow/79508730.cms">IPO opens for public subscription today</a>. The company has fixed the price band at ₹59-60 per share and is looking to raise ₹810 crore SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/heres-what-to-expect-from-maruti-mm-hero-bajaj-auto-in-november-car-bike-sales/articleshow/79489474.cms" data-type="tilCustomLink"> November auto sales estimates — Here’s what to expect from Maruti, M&amp;M, Hero, Bajaj Auto, and other automakers</a> <a href="https://www.businessinsider.in/india/news/centre-invites-agitating-farmer-unions-for-talks-on-december-1-two-days-ahead-of-a-scheduled-meeting/articleshow/79502391.cms" data-type="tilCustomLink">Centre invites agitating farmer unions for talks on December 1, two days ahead of a scheduled meeting</a>

Top stocks to watch — Dr Reddy’s Lab, Reliance Power, Hero Moto, Eicher Motors, TVS Motor, Phoenix Mills, Coal India, and others

<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>The 30-share BSE index was trading 1.52% lower; while the Nifty50 cracked 150 points at 10:05 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 tumbled over 500 points on Tuesday, led by massive sell-off in global stocks amid heavy foreign fund outflow. The 30-share BSE index was trading 1.52% lower; while the Nifty50 cracked 150 points at 10:05 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;">Infratel </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;">IndusInd Bank </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;">Dr. Reddy's Laboratories </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;">Hindalco </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;">Power Grid </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 Finance </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;">Kotak Mahindra 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;">Zee Entertainment Limited </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;">- </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;">Tata Motors </td></tr></tbody></table>*as of September 24, 10:00 am RIL and Future Retail trade in red RIL shares down 1%, while Future Retail lost 5% as the Competition Commission of India (CCI) will examine the online and offline aspects of the Reliance-Future Group deal – separately and together – to ascertain their effect on competition, according to <a href="https://economictimes.indiatimes.com/industry/services/retail/competition-commission-reviewing-both-online-offline-aspects-of-reliance-future-deal/articleshow/78280366.cms?from=mdr">reports</a>. RIL’s retail arm sought the CCI approval for its ₹24,713 crore acquisition of the online and offline businesses of Future Retail. Ircon International shares gains 2% The shares of Ircon International surged 2% in an otherwise weak market after it secured contracts worth over ₹400 crore from the Ministry of Railways. The contracts pertain to works of nine roads over bridges. Dr Reddy's Lab shares up 1% The shares of Dr Reddy's Labs were trading 1% higher after the company received US Food and Drug Administration nod for its hyperparathyroidism drug, Cinacalcet Tablet. HDFC Limited shares down 1% The shares of Housing Development Finance Corporation was down 1% after the company said it is looking to raise up to ₹5,000 crore by issuing bonds on a private placement basis. ONGC shares down 2% The shares of state-owned Oil and Natural Gas company was down 2% after a massive fire broke out in its Surat-based <a href="https://www.businessinsider.in/india/news/massive-fire-at-hazira-based-gas-processing-plant-ongc-in-surat-updates/articleshow/78287631.cms">Hazira gas processing </a>plant in the early hours of Thursday. The reason and the damage due to the fire at ONGC plant are yet to be ascertained. Tata Motors DVR shares up 2% The shares of Tata Motors DVR 'A' Ordinary were up 2% after the parent company Tata Sons bought 37.63 lakh shares in the company at ₹59.83 per share on the NSE. Future Consumer shares down 4% Kishore Biyani owned Future Consumer shares shed 4% value during the early trade hours after the promoter entity Future Capital Investment invoked 36.6 lakh pledged equity shares of Future Consumer. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/yes-bank-is-hiring-again-for-the-coming-year-after-workforce-shrinks-by-1000-since-march/articleshow/78287419.cms" data-type="tilCustomLink">EXCLUSIVE: YES Bank's workforce shrank by 1,000 employees since March but now it's hiring again for the coming year</a> <a href="https://www.businessinsider.in/business/ecommerce/news/online-grocery-market-is-booming-huls-shikhar-app-now-gets-double-the-orders-big-baskets-rakes-in-thrice-the-volume/articleshow/78288794.cms" data-type="tilCustomLink">Online grocery market is booming – HUL's Shikhar app now gets double the orders, Big Baskets rakes in thrice the volume</a>

You Searched For "reddys labs" and got 10 results

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