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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Midcap & small cap buck trend 
(Mon, 23 Jun 01:30 pm) 
 
Indian share markets slipped deeper in the red in the post-noon trading session. Sectoral indices are trading mixed with FMCG and IT stocks being the biggest losers whereas auto and metal stocks are trading in the green.

BSE-Sensex is down 137 points and NSE-Nifty is trading 47 points down. Both BSE Mid Cap and BSE Small Cap indices are trading up by 0.2%. The rupee is trading at 59.04 to the US dollar.

Most of the domestic pharma stocks are trading in the green with Indoco Remedies and Dishman Pharma being the major gainers whereas Orchid Chemicals and Biocon are trading in the red. As per a leading financial daily, pharmaceutical companies will have to gear up for a stricter price regime as the government is contemplating to bring legislation that will cover all kinds of medicines including patented, imported and even non-scheduled drugs. The legislation will consider pricing models across the US, European Union, China and 14 countries from Organization of Economic Co-operation and Development (OECD). The National Pharmaceutical Pricing Authority (NPPA) has commenced work in this regard. NPPA plans to come up with the first draft of the legislation by the end of FY15. Presently around 30% of Rs 790 bn domestic pharmaceutical market is regulated with the prices of 348 essential medicines capped at the average price of all drugs in a particular segment having more than 1% market share. The prices of these drugs can be raised annually in line with the Wholesale price Index whereas the prices of all the other drugs can be raised by upto 10% annually.

Auto stocks are trading mixed. Gains are being led by Maharashtra Scooters and Hero MotoCorp, while Eicher Motors is trading weak. As per a leading business daily, Bajaj Auto is planning to begin retail sales of quadricycles by this October. This comes after the Ministry of Road & Transport confirmed that quadricycles could ply on the Indian roads by October. Bajaj Auto doesn't want to lose any time and will test the Bajaj RE60. The company has developed 60,000 p.a. capacity of RE60 at its Waluj plant in Maharashtra. Further the company has also developed left-hand version of quadricycles for export markets. However, in terms of financials the impact of quadricycles won't be that significant for at least next two years at both top line as well as bottom line. Bajaj Auto is trading firm by 0.7% on BSE today.

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S&P BSE AUTO


Jul 21, 2017 (Close)

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