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Indian Markets Trade Flat
Fri, 1 Jan 11:30 am

After opening the day deep in the red, the Indian indices booked some gains and are presently trading close to the dotted line. Sectoral indices are trading on a positive note with stocks from the consumer durables, auto and capital goods sector witnessing maximum buying interest.

The BSE-Sensex is trading down 11 points (down 0.04%) and the NSE-Nifty is trading down 6 points (down 0.1%). The BSE Mid Cap index is trading higher by 0.6% and the BSE Small Cap index is trading up 0.7%. The rupee is trading at 66.23 to the US$.

Stocks in the pharma space are trading on a mixed note with J. B. Chemicals and Wockhardt leading the gains. As per a leading financial daily, the revision in the National List of Essential Medicines (NLEM) by the government is said to bring in savings of 10-20% for patients at the therapy level. The savings will be widely translated on antibiotics, anti-infectives, cardiac and respiratory medicines.

However, pharmaceutical firms will take a backseat due to this revision. As stated, the revision in the list will lead to a loss of around Rs 6 billion for pharma companies. Most of the brunt here will be on Cipla, Pfizer, Sun Pharma, Zydus and Lupin.

The new list will be operational with immediate effect once the drug pricing regulator, National Pharmaceutical Pricing Authority, fixes their prices. At present, only 348 drugs are in the NLEM-2011 which are subject to price control according to the National Pharmaceutical Pricing Policy 2012. To know more about how NPPA regulations can impact pharma companies, please click here.

Finance stocks are also trading mixed with Prime Securities leading the gains and JM Financial leading the losses. As per an economic daily, country's premier housing finance entity Housing Development Finance Corporation (HDFC) has registered a fall of 50% in its profit on sale of investment at Rs 570 million for the quarter ended December 2015. This compares to Rs 1,130 million for the same quarter in the previous year.

Income from dividend stood at Rs 1,350 million during the quarter as compared to Rs 1,030 million in the same period a year ago. This included dividend of Rs 1,270 million from HDFC Standard Life Insurance Company. The Corporation, under the loan assignment route sold loans amounting to Rs 12 billion in the quarter ending December 31, 2015 to HDFC Bank.

HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. Presently its stock is trading down by 0.5% on the BSE.

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Jan 16, 2018 (Close)