Sensex Ends 142 Points Higher; Healthcare and Capital Goods Stocks Witness Buying

Mon, 10 Aug Closing

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Extending gains to the third straight day, Indian share markets witnessed buying interest throughout the day today, amid sustained foreign fund inflows and positive cues from global markets.

Benchmark indices erased some of the gains during closing hours tracking weakness in telecom stocks, ahead of the AGR hearing.

At the closing bell, the BSE Sensex stood higher by 142 points. Meanwhile, the NSE Nifty stood higher by 61 points.

M&M and Cipla were among the top gainers today.

SGX Nifty was trading at 11,297, up by 68 points, at the time of writing.

The BSE Mid Cap index ended up by 1.4%. The BSE Small Cap index ended up by 1.5%.

Sectoral indices ended on a mixed note with stocks in the healthcare sector and capital goods sector witnessing buying interest.

Meanwhile, energy stocks witnessed selling pressure.

Asian stock markets ended on a mixed. As of the most recent closing prices, the Hang Seng was down 0.6% and the Shanghai Composite stood higher by 0.8%. The Nikkei ended down by 0.4%.

Gold prices are trading up by 0.4% at Rs 55,000 per 10 grams.

The rupee is trading at 74.89 against the US$.

Speaking of the current stock market scenario, note that after over 2 years of lag, the smallcap index is beating Sensex in the post Covid rebound.

As per Richa Agarwal, lead smallcap analyst at Equitymaster, the next few days would be crucial for making big gains in smallcap stocks.

But while it is time to act, you must tread with caution. Post Covid, Richa expects a lot of clean up in the smallcap space, with only a few quality stocks emerging as winners.

In news from the pharma sector, Cipla was among the top buzzing stocks today.

Shares of the company advanced over 10% to hit a record high of Rs 814.45 on the BSE after the pharmaceutical firm reported healthy June quarter numbers on Friday post market hours.

The Mumbai headquartered pharma firm posted 20% growth in profit before tax (PBT) for the first quarter of the current financial year to Rs 8 billion, on a 9% year-on-year (YoY) growth in revenues to Rs 43.5 billion.

On the operational front, EBITDA came in at Rs 10.5 billion.

The profit after tax was Rs 5.8 billion, up 21% from Rs 4.5 billion posted in the same quarter a year ago.

The company's domestic business did well, registering a 16% YoY jump during the quarter when Cipla launched the licensed version of Gilead's Remdesivir. It also marked another key drug used in Covid treatment, Roche's tocilizumab.

In the chronic therapies, cardiac segment did well for Cipla during the quarter, growing by 10%. The trade generics business clocked a 46% YoY jump.

The India business grew by 16% YoY and the Branded Rx business grew by 9% YoY, led by chronic therapy growth offsetting the subdued acute business. The previous year was on a low base as it had the impact of restructuring in trade generic business.

Cipla's US business grew by 14% YoY led by the ramp up in sales of inhaler drug albuterol. The South Africa business registered a 17% jump, while the European business grew by 9%.

Cipla share price ended the day up by 9%.

To know more, you can read Cipla's Q1FY21 result analysis on our website.

Moving on to news from the FMCG sector, shares of Emami zoomed 20% today even after the company reported a 13.6% year-on-year (YoY) drop in profit before tax to Rs 490.6 million for Q1FY21.

The company's net profit was up 1.1% to Rs 395.8 million.

For the quarter under review, revenues from operations were down by 25.8% to Rs 4,813.4 million as offtakes of summer portfolio were impacted due to the lockdown and weak environment for discretionary products. The health and hygiene portfolio range, however, grew 29%.

Gross margins during the quarter increased by 230 basis points at 66.5% and EBIDTA margins by 490 basis points at 25.5%.

The company said it made 12 new launches during the quarter, which contributed 5% of the domestic sales.

Additionally, it completed the buyback of shares worth Rs 1.9 billion.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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