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Informist, Friday, Oct. 25, 2024

HYDERABAD – Pharmaceutical stocks may witness mixed trends next week amid weakness in the overall market sentiment, while investors may take selective bets in the sector, analysts said.

Pharmaceutical majors like Sun Pharmaceutical Industries Ltd., Cipla Ltd., Biocon Ltd., and Dr. Reddy’s Laboratories Ltd. are scheduled to announce their Jul-Sept earnings next week, which may indicate the trend for the next few weeks, analysts said.

Mehta Securities in a note said the upcoming elections in the US will have a long-term impact on the sector, as the US is a key market for Indian generic pharma companies.

"Given potential impacts on key Indian sectors like IT (information technology), pharmaceuticals, and textiles, a cautious outlook prevails, especially as corporate earnings for Q2 (Jul-Sept) have disappointed and foreign investors have pulled over 97,205 crore rupees (INR 972.05 billion) from Indian equities," Mehta Securities said.

For now, investors may look for companies with domestic market exposure, while watching out for the US sales performance of large companies for Jul-Sept, analysts said.

Last week, the Nifty Pharma index ended with losses of as much as 3.40%, while the benchmark Nifty-50 ended with a 2.70% loss. The worst-hit stocks in the pharma index were Granules India Ltd., ending with a 9.70% loss, and Biocon Ltd., which lost 8.20% week-on-week.

TOP HEADLINES

* Earnings Review: Torrent Pharma Jul-Sept consol PAT growth lowest in 5 qtrs
* Eris Life Jul-Sept consol net profit falls nearly 26% YoY to INR 916 mln
* Jubilant Pharmova Jul-Sept consol PAT rises 64.5% YoY to INR 1.03 billion
* Jubilant Pharmova US arm completes voluntary prepayment of INR 2.1-bln loan
* Laurus Labs Jul-Sept consol PAT falls 46.3% YoY, sales fall 0.1%
* Earnings Outlook:Torrent Pharma consol PAT seen up on domestic, global sales
* Earnings Outlook: Injectable ops to aid Aurobindo Pharma's Jul-Sept earnings
* Mankind Pharma acquires Bharat Serums and Vaccines for INR 13.76 bln
* Piramal Pharma Jul-Sept consol PAT up over 4 times on yr to INR 225.9 mln
* Syngene Intl Jul-Sept PAT falls 4.9% YoY, sales fall 1.1%
* Zydus Life gets in-principle acceptability from WHO for ZyVac vaccine
* NCLT directs Suven Pharma, Cohance Life to seek shareholder OK for merger
* Earnings Outlook: US, India sales growth to bolster Sun Pharma Jul-Sep
* Delhi HC junks Abbott GmbH's plea against registration of Mebufen trademark
* Earnings Outlook: Cipla's Jul-Sept profit growth seen lowest in 6 quarters
* Earnings Outlook: Custom synthesis ops to boost Divi's Labs Jul-Sept PAT
* Alembic Pharma gets US FDA final nod for diltiazem hydrochloride capsules
* Earnings Outlook: Alkem Labs Jul-Sept consol PAT seen up 10% YoY
* Gland Pharma appoints Shyamakant Giri as CEO, effective Jan 15

Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:

Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:

End

US$1 = INR 84.08

Reported by Narayana Krishna

Edited by Tanima Banerjee

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