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Informist, Friday, Sept. 11, 2026

 

NEW DELHI – Pharmaceutical stocks are likely to stay range-bound with a mild positive bias next week, with the Nifty Pharma index seen moving in the 26150-27000 range. A weaker rupee could support export-oriented pharma companies, according to analysts. However, higher freight costs and broader macroeconomic headwinds could temper the benefit to net margins.
 

The index closed at 26532.40 points Friday, down 0.2% this week. Despite selling pressure at higher levels and weakness in the broader market, pharma stocks remained relatively defensive, according to Sugandha Sachdeva, founder of research firm SS WealthStreet. Sachdeva said 26150 remains an important support for the index, while 26980 is a key resistance. A decisive break on either side could provide the next directional cue.

 

"In the near term, however, the sector is likely to remain sensitive to global macro cues. Strength in the dollar index and elevated US bond yields have capped gains, while the upcoming US Federal Reserve policy decision will be an important trigger. A dovish stance could support the broader market as well as pharma stocks, whereas a hawkish tone could keep upside limited. Geopolitical developments surrounding the U.S.-Iran conflict will also remain on the radar," Sachdeva said.

 

"Pharma stocks are likely to stay range-bound for the upcoming week," Jatin Gedia, vice-president and technical research analyst at Teji Mandi, said. He pegged the Nifty Pharma index in the 26200-27000 range. For exporters, a weaker rupee due to higher crude oil prices could support foreign-exchange realisations, although higher freight costs and broader macroeconomic headwinds could weigh on net margins, Niharika Agarwal, research analyst at Nirmal Bang Institutional Equities, said. The rupee has depreciated over 1% against the dollar this week as Brent crude oil prices rose from $97 per barrel to as much as $109 amid the escalating war in West Asia.
 

Meanwhile, the Indian pharmaceutical market grew 10.7% year-on-year in August, although unit-volume growth moderated sharply to 0-1.1%, indicating that price increases and new product launches continued to drive most of the industry’s top-line growth, Agarwal said. Price increases contributed around 6% to growth, while new product introductions contributed around 3.6%, she added.

 

The glucagon-like peptide-1 segment remains a key area to watch. While demand for oral semaglutide plateaued slightly, volumes of generic injectable semaglutide rose 2% month-on-month in August, with active users estimated at around 299,000, Agarwal said. Competition is also intensifying, with Eris Lifesciences Ltd. reaching around 13% market share in prefilled devices, while Torrent Pharmaceuticals Ltd. holds around 34% in reusable cartridges. This makes pricing discipline and supply-chain execution increasingly important as more generic players enter the market, Agarwal said. "For players with material GLP-1 exposure, the near-term catalyst is shifting from initial category creation to market-share retention,” she said.

 

In the domestic market, Novartis India Ltd.'s INR-12.5-billion acquisition of Pfizer Ltd.'s Minipress trademark rights also highlights the premium valuations commanded by established, cash-generative chronic brands, Agarwal said.

 

TOP HEADLINES

* India GLP-1 market to reach INR 157 bln by FY32, says Kotak Equities

* INTERVIEW: Brooks Labs looking to deepen presence in African markets - CEO

* Moody's assigns Baa1 rating to Sun Pharma, sees smooth Organon integration

* S&P assigns preliminary 'BBB+' rating to Sun Pharma; Organon deal key

* Biocon inks 10-yr partnership pact with 2 cos to supply Pertuzumab in Brazil

* Pfizer discontinues Minipress XL tablets sale after parent co halts mfg

* GLP-1 sales likely plateaued in Aug after initial surge, says Pharmatrac

* Shilpa Medicare gets final nod from regulatory committee to market OERIS

* US FDA ends inspection at Alembic Pharma Gujarat unit with no observations

* Glenmark Pharma arm launches nasal spray in Brazil for allergic rhinitis

* Acutaas Chemicals gets 20-year process patent for 2,4-Dimethylthiophenol

* UK regulator ends inspection at Indoco Remedies mfg unit with no observation

* SC rejects PIL challenging Centre's Human Papillomavirus vaccine drive

* IOL Chem to invest INR 3.5 bln to expand Ibuprofen mfg capacity to 18,000 tn

* Natco Pharma to raise up to INR 13 billion through rights issue

* Alkem Laboratories launches hair growth serum 'Renocia Exo'

* Alembic Pharma incorporates arm in UAE to explore new business opportunities

* Morepen Laboratories completes phase-1 of capacity expansion ahead of time

* US FDA issues 7 observations against Indoco Remedies' Goa mfg plant

* Lupin receives US FDA approval for wakefulness drug Modafinil

* Acutaas Chemicals inaugurates new plant in Gujarat for R&D, product trials

 

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	25550.00	(-)2.00	25940.00	24940.00
Alkem Laboratories	5087.50	(-)2.00	5165.80	5011.80
Aurobindo Pharma	1679.80	1.60	1698.10	1646.30
Biocon	390.65	(-)1.70	402.90	378.50
Cipla	1366.00	(-)1.40	1387.50	1336.90
Divi's Laboratories	9322.00	2.40	9453.70	9244.70
Dr Reddy's Laboratories	1165.50	1.30	1211.20	1107.20
Gland Pharma	2922.30	(-)0.30	2986.20	2850.00
GlaxoSmithKline Pharmaceuticals	2828.40	(-)4.40	2898.20	2759.00
Glenmark Pharmaceuticals	2419.20	(-)0.70	2459.50	2363.90
Granules India	909.30	7.20	935.40	868.20
Ipca Laboratories	1968.50	0.20	2010.60	1937.40
Laurus Labs	1969.00	7.00	2020.00	1892.60
Lupin	2095.00	(-)0.70	2137.70	2036.70
Natco Pharma	815.35	(-)1.60	832.80	792.70
Pfizer	4060.20	(-)11.90	4149.10	4009.50
Sanofi India	3079.20	(-)2.50	3120.70	3048.50
Sun Pharmaceutical Industries	1840.00	(-)3.10	1863.30	1822.30
Torrent Pharmaceuticals	4965.50	2.20	5043.20	4855.20
Zydus Lifesciences	1119.10	(-)0.10	1150.60	1088.80
Index	Levels
Nifty Pharma	26532.40	0.20	26790.40	26178.50
Nifty 50	23398.10	(-)2.10	23575.90	23142.50
S&P BSE Sensex	74781.76	(-)2.30	75376.70	73862.70

 

End

 

US$1 = INR 95.55

 

Reported by Gunjan Rajput

Edited by Shubhayan Bhattacharya

 

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