Sensex Remains Positive; Energy & IT Stocks Gain

Thu, 31 May 12:30 pm

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Stock markets in India continue to trade in green following Asian stocks that rebounded from a two-month trough. Market participants will also focus on GDP data to be released later in the day today. Sectoral indices are trading mixed with stocks in the power sector and realty sector witnessing maximum selling pressure. Gains are largely seen in energy sector and IT sector.

The BSE Sensex is trading up by 157 points and the NSE Nifty is trading up by 46 points. Meanwhile, the BSE Mid Cap index is trading down by 0.2% while, the BSE Small Cap index is trading down by 0.3%. The rupee is trading at 67.63 to the US$.

In the news from the pharma sector. As per an article in a leading financial daily, Lupin has launched Solosec (secnidazole) 2g oral granules in the US market. The company had received an approval from the United States Food and Drug Administration (USFDA) earlier.

The company's Solosec (secnidazole) 2g oral granules is a 5-nitroimidazole antimicrobial agent indicated for the treatment of bacterial vaginosis (BV) in adult women.

Solosec, the first new oral antibiotic to treat BV in more than a decade, is designed to deliver a full course of therapy in a single 2g oral dose and is the first and only single-dose oral therapy for BV.

It is the most common vaginal infection in the US among women of childbearing age.

To know more about the company, you can access to Lupin's latest result analysis and Lupin stock analysis on our website.

Did you know the BSE Healthcare Index is down 20% over the past three years? During the same period, the BSE Sensex is up 21%.

The BSE Healthcare Index has underperformed the Sensex

And this was a sector they called 'evergreen'.

Have Investors boarded a plane that's about to crash? Or is it just turbulence on the way to a smooth and safe landing?

It's important to understand the core issues. Regulatory problems for pharma companies have increased over the past few years. The frequency of visits as well as quality expectations have increased a lot.

The intensity of competition has also increased. Faster approvals of drugs have led to price erosion for generic players.

While we expect the pain to continue in the short-term, the long-term picture still looks bright.

Stricter norms and pricing pressure will ensure only quality players remain. Companies with strong R&D facilities and quality compliant plants will have an edge over the others.

Those are the only pharma stocks you should be looking at.

And even among those, only three of them offer enough margin of safety today.

Get access to the safe stocks here.

Lupin share price was trading down by 0.5% at the time of writing.

Moving on to the news from the economy. Credit rating agency, ICRA in its latest report has said that cement production in India registered a growth of 6.3% at 298 million tonne (MT) in the financial year 2018, as compared to 280 MT in FY17, with the bulk of production growth was reported in the second half of FY18.

It noted that the growth in output was mainly because of better demand in the key markets and the base effect of the demonetisation-driven low demand during the corresponding period of last year.

Rating agency has stated that going by the prevalent trend, the growth momentum is expected to continue in FY19 and the industry is likely to witness a growth of around 6%. It pointed out that this is primarily on the back of pick-up in the affordable and rural housing segments and infrastructure - primarily road and irrigation projects.

Besides, it said that the FY19 budget also provides support in this direction with higher rural credit, increased allocation for rural, agricultural and allied sectors along with continued focus on the PMAY and infrastructure investments.

The report further indicated that the cement production increased by 10.6% and 18.2% respectively in the December and March quarters of 2017-18.

It said that the trend was supported by demand in Andhra Pradesh and Telangana, driven by irrigation, low-cost housing and infrastructure projects.

Besides, it noted that in April 2018, rising demand resulted in an increase in cement prices in the Ahmedabad and Hyderabad markets respectively by Rs 20/a bag and Rs 10/a bag, respectively. However, it said that rising supplies resulted in prices remaining range-bound in the Kolkata market.

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