Sensex Continues Momentum; Pharma Stocks Top Gainers

Tue, 12 Sep 01:30 pm

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After opening the day on a positive note, the Indian share markets have continued the trend and are currently trading comfortably in green. All sectoral indices are trading on a positive note, with stocks in the pharma sector and the realty sector witnessing maximum buying interest.

The BSE Sensex is trading up 160 points (up 0.5%) and the NSE Nifty is trading up 48 points (up 0.5%). Meanwhile, the BSE Mid Cap index is trading up by 0.7%, while the BSE Small Cap index is trading up by 0.8%. The rupee is trading at 63.95 to the US$.

In news from the pharma sector, Sun Pharma is among the top gainers today.

The uptick came after Sun Pharma, the country's largest drug maker, announced that it received final ANDA (abbreviated new drug application) approval from the US Food and Drug Administration (USFDA) Fenofibrate Oral Tablet. The tablets are used for the treatment cholesterol and related problems.

At the time of writing, Sun Pharma share price was trading up by 2.1%.

The Indian pharmaceutical industry has come under a lot of regulatory pressure in the past few years.

We had written about the current predicament of Indian pharma companies in one of the premium editions of the 5 Minute WrapUp:

• Over the past few years, risk in the US markets has increased. The US Food and Drug Administration has become stricter on products entering US borders. Surprise inspections have increased and companies are being issued warning letters. This has impacted the business and earnings of Indian pharma players, causing major volatility for the sector.

The list of pharma sector woes is long. So, is there light at the end of the tunnel? Girish Shetty, our research analyst thinks there is.

Is the Worst Over for all the Pharma Stocks?

As per him, it doesn't make sense to paint all pharma stocks with the same brush. The leaders of the industry will certainly survive this phase. There are interesting, niche pharma stocks that are worth your attention.

Facing pricing pressures in the domestic and export markets, currency fluctuations, as well as manufacturing issues related to their plants, there is a transformation happening in the overall sector as to how business is done and will be done in the future.

Moving on to news from the IPO space. Online matchmaking service provider Matrimony.com kicked off its initial share sale offer today. The initial public offering of the company was already subscribed by about 67% at the time of writing.

Matrimony.com is looking to raise Rs 1.3 billion through a fresh issue while an offer for sale (OFS) will be made for 3,767,254 equity shares at a price band of Rs 983-985 per share. The OFS is undertaken by the promoters and some of the investors, including private equity firms.

It is evident that the IPO is making a lot of waves, however is it worth your attention? We have analysed and reviewed the IPO and have released a recommendation note. You can check the same on the IPO page.

With multiple offerings lined up, it becomes difficult to evaluate and pick out the best opportunity, if any exists. Not all IPOs will have fortunes like the D-Mart IPO, as the IPO game is inherently rigged against the retail investor.

We don't need to back all the IPOs to get rich. But a few good IPOs could certainly become the multibagger in your portfolio in a few years.

We have come out with a special report titled, How to Get Rich with IPOs. It is a comprehensive report that aims to cut through all the hoopla surrounding IPOs. This guide will show you how to safely profit from the 2017 IPO rush.

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

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Indian Share Market Update: Top Gainers and Losers