Sensex Trades Flat; US Fed Meet Awaited

Tue, 19 Sep 11:30 am

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After opening the day flat, share markets in India have continued the trend on and are trading flat with a negative bias. Market participants are awaiting cues from the US Federal Reserve meeting scheduled to begin today. Sectoral indices are trading on a mixed note with stocks in the oil & gas sector and stocks in the auto sector trading in green, while stocks in the metals sector and stocks in the consumer durables sector are leading the losses.

The BSE Sensex is trading lower by 9 points (down 0.1%), and the NSE Nifty is trading down by 5 points (down 0.1%). Meanwhile, the BSE Mid Cap index is trading up by 0.3%, while the BSE Small Cap index is trading up by 0.4%. The rupee is trading at 64.20 to the US$.

In news from stocks in the pharma sector. Biocon share price is in focus today after the company said it received zero observations for its active pharmaceutical ingredient (API) plant in Visakhapatnam, Andhra Pradesh.

The plant which Biocon acquired from Acacia Lifesciences in October 2015 was inspected from September 11-15, 2017.

The unit manufactures advanced intermediates of active pharma ingredients (APIs) useful in vertically integrating oncology-related abbreviated new drug application (ANDA) filings of Biocon in the future and for supply to third-party customers.

US Food and Drug Administration (USFDA) completed the audit of active pharmaceutical ingredients facility at Visakhapatnam, Andhra Pradesh without any observations, and so did not issue form 483.

As per USFDA, observations are made in Form 483 when investigators feel that conditions or practices in the facility are such that products may become adulterated or render injuries to health.

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

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.

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 plant, there is a transformation happening in the overall sector as to how business is done and will be done in the future.

USFDA sweetener for Indian Pharma

In recent times, pharma companies were bogged down by mounting pressure from US Food and Drug Administration (USFDA) to adhere to quality standards at their manufacturing plants. In the past three years, the USFDA raised numerous regulatory concerns resulting in import bans and suspension of new drug approvals from facilities of Indian pharma companies. But what has come as a breather is a sharp pick-up in new drug approvals in 2017. During the period January-July 2017, 129 approvals for generic drugs were made. This is 45% higher from 89 approvals made in the corresponding period last year.

As per the Indian Pharmaceutical Alliance, the pace of drug approvals has gained momentum after they complained to FDA about delays last year. Approvals for drugs have also picked up after USFDA concerns at some of the manufacturing units were addressed.

At the time of writing, Biocon share price was trading up by 1.8%.

In news from stocks in the IPO space. ICICI Lombard IPO is making waves in the market with its initial share sale offer. The initial public offerings of the general insurer will be open for subscription during 15th-19th September.

ICICI Lombard is the largest private-sector non-life insurer in India based on gross direct premium income in fiscal 2017, a position it has maintained since fiscal 2004 after being one of the first few private-sector companies to commence operations in the sector in fiscal 2002. The company offers a comprehensive and well-diversified range of products, including motor, health, crop/weather, fire, personal accident, marine, engineering and liability insurance, through multiple distribution channels.

The company has fixed a price band of Rs 651-661 per share for its IPO, through which it aims to raise about Rs 57 billion. Its public issue was fully subscribed times at the time of writing.

Today is the final day for the IPO.

We have analysed and reviewed the offering 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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