Till Nifty Pharma holds above the 11,180 mark, the bullish bias will prevail, charts suggest.
Here are some key things to watch in India with respect to the upcoming US vote
Divestment of the US subsidiary is at good valuations and will help attain net cash positive status
Allocation to a thematic offering like the newly-launched healthcare index fund should, however, be limited
Even as overall pharma market was up 5% over the year-ago period, GSK's September sales were down 8%, the firm is banking on recovery led by top brands, new launches
The rating agency reaffirmed its 'CRISIL BBB' rating on long term bank facilities, while short term ratings has been reaffirmed at 'CRISIL A3+'
In the past month, Cipla and Lupin outperformed the market by gaining 12 per cent each, against 8 per cent rise in Nifty Pharma index
Global brokerage Macquarie Capital Securities, on October 6, initiated coverage on the stock with an 'Outperform' rating and a target price of Rs 2,064 in bull-case scenario
IT stocks were expected to re-rate and that is happening now.
The S&P BSE Healthcare index, the top gainer among sectoral indices, rose 3.5 per cent to close at 20,405 points, as compared to 0.34 per cent decline in the Sensex
As of June 30, 2020, the total promoter holding in Alembic stood at 69.57 per cent, up 195 basis points (bps) from 67.62 per cent at the end of March quarter.
The Indian pharmaceutical sector has also been going through a surge
Higher share of patented products, scope for margin improvement and chronic portfolio are key positives
Growth pickup and lower debt could improve its valuations
The stock of the company was trading higher for the fifth straight day, surging 26 per cent during the period.
AstraZeneca Plc, the company's parent firm, is expected to release initial data on whether a vaccine can stop people from getting the virus on September 15
For the quarter ended June 2020, Sun Pharma reported a surprise loss due to one-time charges.
All the 10 constituents of the Nifty Pharma index were trading in the green.
This flood in global liquidity allows us the luxury to look beyond the immediate future i.e. FY21 and focus beyond i.e. FY22.
The US biotech firm's breakthrough is one of the most promising developments yet in the race to develop a vaccine against the virus that has paralysed the world's economy.