Pharma Stocks Outlook
Seen down next week as earnings of major cos muted
This story was originally published at 22:43 IST on 31 October 2025
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MUMBAI – The Nifty Pharma index is expected to fall further next week after a weak performance this week, when it also snapped a four-week winning streak, according to analysts. Investor sentiment weakened after sector majors Dr. Reddy's Laboratories and Cipla posted muted growth in their September quarter earnings, in line with projections of muted growth for the Indian pharma market.
The sectoral index's upward momentum was affected by weak earnings by the pharma majors, apart from the lack of positive triggers for the sector. Dr. Reddy's posted a consolidated net profit of INR 13.47 billion, but slightly missed analysts' estimates. The company's management said the growth for the September quarter was impacted due to price erosion in the US. Analysts say this weakness will reflect in the earnings of most pharma companies in this quarter.
"Dr. Reddy's and Cipla posted muted results which gives us an idea of how the earnings of other drug makers would pan out to be...patent expiry of generic Revlimid also dragged US sales of the companies as the sales have slowed down for lenalidomide," said an analyst at a domestic brokerage. Some technical analysts suggested that weakness in the sector will likely continue for another two weeks.
The Nifty Pharma index will likely find support around 21600 and face resistance at 22500, according to Anshul Jain, technical analyst at Laxmishree Investments and Securities. This week, the index ended nearly 1% lower at 22175 points. Within this 20-stock sectoral index, Dr. Reddy's was the biggest loser, down nearly 7% from last week, followed by Cipla, which fell just over 5%. Aurobindo Pharma rose nearly 5% and was the top gainer in the index this week.
TOP HEADLINES
* Jubilant Pharmova Jul-Sept consol net profit rises 17% YoY to INR 1.2 bln
* Natco Pharma launches generic of Zortress in US with partner Breckenridge
* Analyst Concall: Dabur eyes mid-to-high single-digit revenue growth Oct-Mar
* Analyst Concall: Cipla says may achieve US sales target of $1 bln in FY27
* Earnings Review: Dabur PAT, revenue rise in mid single-digits on GST blues
* Cipla cuts FY26 EBITDA margin guidance to 22.75%-24.00% on higher R&D costs
* Lupin arm launches AI-powered platform VitaLyfe for working professionals
* Earnings Review: Cipla's Q2 consol PAT growth slowest in 13 qtrs, below view
* Achin Gupta to take over as Cipla MD, global CEO from Umang Vohra from Apr 1
* Earnings Review: Cipla Q2 consol PAT growth slowest in 13 qtrs, below view
* US FDA issues 'voluntary action' tag for Zydus Life's mfg unit in Himachal
* Dr Reddy's gets non-compliance notice for semaglutide from Canada regulator
* Granules India gets US FDA establishment inspection report for API Unit-I
* Alembic Pharma gets US FDA nod for cardiac drug Ticagrelor tablet, 60 mg
* Earnings Outlook: Max Healthcare Q2 sales seen up on new hospital additions
* Earnings Outlook: US sales to lift Zydus Life Jul-Sept YoY earnings growth
* Sai Life Sciences to double process R&D capacity with new unit in Hyderabad
* Earnings Outlook: Generic Entresto launch likely to aid Alkem Labs Q2 growth
* Earnings Outlook: Pdt launch, mkt share gains in US to drive Lupin Q2 growth
* Earnings Outlook: Custom synthesis, API ops to drive Divi's Labs Q2 growth
* Earnings Outlook: India, Brazil ops to boost Torrent Pharma's Q2 earnings
* US FDA tags Cohance Life's Hyderabad unit as 'official action indicated'
* Earnings Outlook: Weak US sales may weigh on Aurobindo Pharma Jul-Sep growth
* Earnings Outlook: Biologics ops to lift Bicon's Jul-Sept sales growth
* Analyst Concall: Dr Reddy's to partner with US contract mfg co for abatacept
* Earnings Outlook: Sun Pharma Q2 revenue seen up but net profit seen down
* Expect Canada authority approval to Semaglutide in 2 days, Dr. Reddy's says
* Zydus Life gets Health Canada approval for generic Mesalamine suppositories
* Earnings Outlook:Low base to help Dabur stave off GST disruption blues in Q2
* Earnings Review: Dr Reddy's Jul-Sept consol PAT rises 7% YoY but misses view
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:
| Company | Price | Week-on-Week Change in % | Resistance | Support |
| Abbott India | 28995.00 | (-)3.10 | 30031.70 | 28381.70 |
| Alkem Laboratories | 5490.50 | (-)1.00 | 5553.50 | 5445.50 |
| Aurobindo Pharma | 1138.90 | 5.00 | 1187.40 | 1075.80 |
| Biocon | 372.10 | 3.50 | 383.50 | 365.80 |
| Cipla | 1501.30 | (-)5.20 | 1539.60 | 1480.80 |
| Divi's Laboratories | 6738.00 | 2.20 | 6873.70 | 6540.70 |
| Dr Reddy's Laboratories | 1197.60 | (-)6.70 | 1212.50 | 1183.50 |
| Gland Pharma | 1928.90 | (-)0.60 | 1968.00 | 1888.20 |
| GlaxoSmithKline Pharmaceuticals | 2618.60 | (-)5.10 | 2731.10 | 2549.90 |
| Glenmark Pharmaceuticals | 1891.20 | 4.00 | 1919.50 | 1861.90 |
| Granules India | 565.60 | 0.20 | 579.10 | 557.30 |
| Ipca Laboratories | 1271.20 | 0.20 | 1306.40 | 1250.40 |
| Laurus Labs | 953.65 | 2.90 | 981.00 | 936.60 |
| Lupin | 1963.50 | 1.70 | 1998.40 | 1918.60 |
| Natco Pharma | 819.90 | (-)0.60 | 845.80 | 806.00 |
| Pfizer | 5209.00 | (-)2.50 | 5365.70 | 5121.70 |
| Sanofi India | 4780.60 | 1.50 | 4846.60 | 4737.40 |
| Sun Pharmaceutical Industries | 1690.70 | (-)0.50 | 1712.40 | 1676.00 |
| Torrent Pharmaceuticals | 3560.10 | (-)0.60 | 3655.60 | 3496.40 |
| Zydus Lifesciences | 974.45 | (-)3.00 | 999.80 | 960.90 |
| Nifty Pharma | 22175.40 | (-)0.80 | 22376.20 | 22047.50 |
| Nifty 50 | 25722.10 | (-)0.30 | 26038.20 | 25553.10 |
| S&P Bse Sensex | 83938.71 | (-)0.30 | 84992.90 | 83378.60 |
End
Reported by P. Madhu Kumar
Edited by Ashish Shirke
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