The BSE-Sensex is trading up 191 points. The NSE-Nifty is trading up 58 points. The BSE Mid Cap index is trading up 1.5% and the BSE Small Cap index is trading up 1.8%. The rupee is trading at 60.18 to the US dollar.
Software stocks are trading mixed today. While Tech Mahindra is leading the gainers; Tata Consultancy Services (TCS) is leading the losers. As per a leading financial daily, India's second largest software firm Infosys, has begun implementing innovative HR policies to retain talent as it grapples with high attrition. The company has adopted a quarterly promotion cycle for top performing employees and has reduced the variable pay component in salaries. This has led to greater certainty in terms of career progression for its staff. Also the company has put in place a fast track programme for accelerating the career path for high performers. These measures are expected to have an effect over the next 2-3 quarters. In 1QFY15 the attrition rate of the company stood at an all time high of 19.5%. Infosys is trading up 0.2% today.
Majority of the Indian pharma stocks are trading in the green today with Orchid chemicals and Dishman Pharma leading the gainers. As per a financial daily, the government has proposed to revise the prices of 37 new drugs and 13 new strengths of existing drugs (which are already under price control). Reportedly, the government is mulling to cut the prices of these drugs by 10-35%. As per the AIOCD estimates, this step will impact aggregate revenues from these drugs by approx 12% on an average. To begin with the NPPA will examine inter-brand price difference in eight single-ingredient drug segments Vis; oncology, HIV/AIDS, tuberculosis, malaria, asthma, immunology, cardiology and diabetes. The current round of notifications covers two therapies as of now that are cardiology and diabetes. The other six are expected to be taken up some time later. It is also reported that more therapies could be added and also combination drugs could come under the pricing purview. These instances indicate that Indian pharma companies might have to face more challenges on the pricing front.