Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Pharma stocks close on firm footing
Wed, 20 Aug Closing

After trading below the dotted line during post noon trading session, the Indian equity markets ended the day in the red. While the BSE-Sensex today closed lower by 106 points, the NSE-Nifty closed lower by 22 points. However, Midcaps and Smallcaps bucked broader market trend and closed with marginal gains. Both the BSE Mid Cap index and the BSE Small Cap index recorded gains of 0.06% and 0.9% respectively. Healthcare stocks were the biggest gainers today.

As regards global markets, Asian indices closed with healthy gains today. The rupee was trading at Rs 60.7 to the dollar at the time of writing and has been gaining ground off late.

Indian pharma stocks ended the day on a strong note. Indoco Remedies and Elder Pharma were the biggest gainers. The stock of Glenmark Pharma rallied and touched intra-day high as the company announced its foray into oncology. The company plans initiation and discovery of innovative bispecific antibody, GBR 1302 molecule. The molecule is based on the BEAT technology and the company expects to obtain permission for initiation of clinical studies by the end of this fiscal. The molecule will focus on treatment of breast cancer.

Power stocks have closed the day on a strong note. Indiabulls Power and JSW Energy were the biggest gainers today. As per a leading business daily, the government plans to conduct a restructuring exercise that will, among other things, transfer all the thermal power projects of state run hydropower companies to NTPC. This will be the result of a move to consolidate all government hydropower companies into one large entity. This would mean a transfer of 4,600 MW of thermal plants controlled by hydro firms to NTPC. The latter would in turn transfer 1,400 MW of its own hydropower plants to the new hydropower behemoth.

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

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Pharma stocks close on firm footing". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Agora Research Private Limited.

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Agora Research Private Limited (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.