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Informist, Friday, May. 22, 2026

 

MUMBAI – Analysts' expectations of large-cap pharma players joining the ongoing rally in their mid- and small-cap peers have not fructified yet. However, some argue that the depreciation of the rupee and the need for a defensive sector to invest in, amid a turbulent market, could reliably support defensive buying going forward. They added that pharmaceutical stocks have broadly met earnings expectations for the March quarter, with a continued downturn in US-facing companies partially offset by strong traction in domestic sales. 

 

"(The) trend of domestic markets being the key growth driver for pharma companies will likely continue (in) the next quarter as bigger companies try to pivot towards drugs that can replace generic Revlimid sales," an analyst at a domestic brokerage said. Revlimid is a high-margin cancer drug, sales of which constituted a large portion of US sales for pharma companies. However, after the loss of generic exclusivity, pharma majors such as Dr. Reddy's Laboratories and Zydus Lifesciences have reported next to no sales of the drug. "I think the race has already started for which drug can prove useful in (the) US...maybe speciality drugs, a few promising biosimilars, or generic glucagon-like-peptide-1 drugs can stop US sales from sliding more," the analyst said.

 

"Sustained depreciation of the rupee has negative implications for the market...margins of companies with petroleum-based inputs will be impacted," V.K. Vijayakumar, chief investment strategist at Geojit Investments, said in a note. "Exporters will benefit. Pharmaceuticals will be a safe bet since the demand for pharmaceuticals is inelastic and this export sector will benefit from rupee depreciation," he said. Inelastic demand refers to demand not contingent upon the price of the product.

 

"(The) Nifty Pharma index is witnessing a gradual rise following a congestion zone breakout above 23900 mark," Vipin Kumaar, assistant vice president at Globe Capital Markets, said. "Moving forward, we reiterate our bullish view on the Pharma index and suggest traders maintain a buy-on-dip trading approach," he said. Any fall to 23800 points should be considered as a fresh buying opportunity, the analyst added. Positional short to medium term targets are intact in the range of 26000–26500 levels. Immediate resistance for the coming weeks is in the range of 25200–25500 spot levels and supports are placed around at 24200-23800 spot levels, he said.

 

This week, the Nifty Pharma index closed 0.3% lower at 24573.95 points, largely because of a steep fall on Friday. During this period, the Nifty 50 rose just 0.3%. Gland Pharma rose a whopping 25% during the week. Zydus Lifesciences and Jb Chemicals & Pharmaceuticals rose over 2?ch. Cipla and Glenmark Pharmaceuticals ended 2% and 3% lower, respectively. Aurobindo Pharma was the worst hit after its soft March quarter earnings and declined more than 5%.

 

TOP HEADLINES

 

* Jubilant Pharmova Jan-Mar consol PAT falls 22.3% YoY to INR 1.19 billion
* Analyst Concall: Max Healthcare bets on Lucknow, Delhi NCR to drive growth
* Analyst Concall: Aurobindo Pharma sees FY27 EBITDA margin at 21%
* Eli Lilly says experimental weight loss drug clears obesity trial
* Earnings Review: Aurobindo Pharma PAT inches up Q4, growth slowest in 3 qtrs
* Earnings Outlook:Torrent Pharma Q4 PAT growth seen hit by JB Chem acquisition
* Earnings Review: Max Health PAT misses Street view on weak sales, occupancy
* ICRA upgrades rating, outlook on Wockhardt's long-term loan facility
* Earnings Outlook: India ops to push Sun Pharma consol PAT up 11% in Jan-Mar
* MedPlus Health Jan-Mar consol PAT rises 25% on year to INR 640 mln
* Glenmark Pharmaceuticals arm announces development candidate for tumour cure
* Earnings Outlook: Weak US gRevlimid sales to dent Aurobindo Pharma Q4 results
* Dr Reddy's launches oral semaglutide biosimilar tablets Obeda in India
* Eris Lifesciences Jan-Mar consol net profit up 3-fold YoY at INR 2.82 billion
* Analyst Concall: Mankind Pharma sees double-digit revenue growth in FY27
* Max Health says shareholder of arm Kalinga Hospital has moved NCLT
* Chemists' strike Wed to highlight margin pressure from online pharmacies
* Earnings Review: Mankind Pharma PAT up 32% YoY; co's cost rise slowest ever
* Analyst Concall: Zydus Life sees single-digit revenue growth in US in FY27
* Anthem Biosciences Jan-Mar consol PAT up over 2-fold at INR 1.9 billion
* Earnings Outlook: Max Healthcare to post strong Q4 PAT on bed additions
* Zydus Lifesciences to buy back 9.6 mln shares at INR 1,150 per share
* Earnings Review: Zydus Life Q4 PAT rises unexpectedly, revenue exceeds view
* HC bars Reddy Pharma from using trademark for pdts on plea by Dr Reddy's
* Lupin gets tentative nod from US FDA for Revefenacin inhalation solution
* Syngene International approves voluntary liquidation of wholly-owned arm
* Max Health acquires 58% in Kalinga Hospital for INR 2.98 bln via term loan
* Piramal Pharma's Telangana unit gets US FDA establishment inspection report
* HC declares GlaxoSmithKline Pharma's 'Calpol' as well-known trademark
* Glenmark Pharma's US arm launches vancomycin hydrochloride injection
* Earnings Outlook: Zydus Life PAT seen dn 30% on no sales of generic Revlimid
* Earnings Outlook:West Asia War to hit Mankind Pharma's net profit in Jan-Mar
* US FDA issues 7 observations to Emcure Pharma's Ahmedabad unit
* OneSource Specialty gets govt nod for expansion of Karnataka facility
* Aurobindo Pharma arm gets drug regulator OK to market Bevqolva
* Dr Reddy's launches generic semaglutide injection in Canada
* Alembic Pharma's Gujarat facility clears inspection by Brazil health agency
* Godfrey Phillips, Aspeya in pact to sell pharmaceutical, nutraceuticals
* Gland Pharma Jan-Mar consol PAT rises 97% YoY to INR 3.67 billion
* Alembic Pharma Jan-Mar consol PAT rises 29.2% YoY to INR 2.03 billion

 

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

 

Company	Price	Week-on-Week Change in %	Resistance	Support
Abbott India	27,830.00	(-)0.40	28,466.70	26,866.70
Alkem Laboratories	5,404.50	(-)1.50	5,584.80	5,294.80
Aurobindo Pharma	1,463.50	(-)3.20	1,590.00	1,382.60
Biocon	430.25	-	439.90	417.00
Cipla	1,399.20	(-)2.30	1,417.90	1,382.70
Divi's Laboratories	6,887.00	1.90	7,049.70	6,708.70
Dr Reddy's Laboratories	1,307.20	(-)2.20	1,338.50	1,289.50
Gland Pharma	2,334.00	24.90	2,391.20	2,278.60
GlaxoSmithKline Pharmaceuticals	2,306.90	(-)5.40	2,363.00	2,269.00
Glenmark Pharmaceuticals	2,259.10	(-)2.90	2,487.40	2,112.20
Granules India	751.95	2.10	779.30	736.30
Ipca Laboratories	1,602.10	(-)0.20	1,667.70	1,563.70
Laurus Labs	1,343.50	1.50	1,367.40	1,320.20
Lupin	2,281.80	0.30	2,319.90	2,250.90
Natco Pharma	1,169.70	(-)2.50	1,190.70	1,154.10
Pfizer	4,670.80	(-)5.70	4,804.40	4,572.00
Sanofi India	3,163.20	(-)1.70	3,241.10	3,118.10
Sun Pharmaceutical Industries	1,844.60	(-)1.80	1,930.10	1,790.30
Torrent Pharmaceuticals	4,486.20	1.80	4,581.60	4,393.00
Zydus Lifesciences	1,038.95	2.70	1,051.70	1,030.40
Index	Levels
Nifty Pharma	24573.95	(-)0.30	25150.30	24231.60
Nifty 50	23719.30	0.30	23906.60	23577.30
S&P Bse Sensex	75415.35	0.20	76065.90	74905.50

 

End

 

Reported by Eshitva Prakash

Edited by Avishek Dutta

 

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