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Oil & Gas Stocks in Focus
Tue, 4 Oct 01:30 pm

Indian share markets continue trading marginally higher as caution prevailed ahead of RBI's announcement of its monetary policy decision later in the day. Shares from rate sensitive sectors are mostly flat with stocks from infrastructure, oil & gas leading the pack of gainers.

The BSE Sensex is trading higher by 55 points (up 0.2%) while the NSE Nifty is trading higher by 15 points (up 0.2%). The BSE Mid Cap index is trading up by 0.2% and BSE Small Cap index is trading up by 0.4%. Gold prices, per 10 grams, are trading at Rs 30,659 levels. Silver price, per kilogram is trading at Rs 44,855 levels. Crude oil is trading at Rs 3,231 per barrel. The rupee is trading at 66.56 to the US$.

Pharma stocks are trading on a mixed note with Orchid Chemicals and Biocon Ltd leading the losses. As per an article in The Economic Times, Sun Pharmaceuticals Ltd is making its own bid with a new drug called tildrakizumab in the late-stage race to the market with a new round of psoriasis drugs.

Tildrakizumab is a monoclonal antibody designed to control the pathogenic cells. They are responsible for the inflammatory process of psoriasis with limited impact on the rest of the immune system.

Sun pharma said that their drug had hit the primary endpoint in the study. Moreover, it improved 28-week scores that demonstrated it was effective in a majority of patients. In May, the company had announced positive results from the first 12 weeks of the two trials in patients with moderate to severe plaque psoriasis.

Notably, the psoriasis market is valued at US$6.6 billion in 2014, according to UK-based research firm Global Data and is set to more than double to US$13.3 billion by 2024. With Sun pharma taking an aim at a crowded market with another psoriasis drug, whether it will further widen its footprint in this space will be the key thing to watch out for going ahead. The share price of Sun Pharma is presently trading up by 0.8% on the BSE.

Meanwhile, shares of Wockhardt surged as much as 5% after it was reported that US health regulator has excluded Ceftriazone Sodium from import alert. The alert was issued earlier against its active pharmaceutical ingredient manufacturing facility at Ankleshwar.

Ceftriazone Sodium is an anti-bacterial drug used to treat conditions such as lower respiratory tract infections, skin infections and urinary tract infections.

Reportedly, the move will enable the company to manufacture and sell Ceftriazone API and formulation to the US market. Considering the pharma's regulatory distresses, are Indian pharma companies now adapting to the scrutiny by the USFDA? Bhavita Nagrani, our pharma sector analyst, shares her insights in one of our premium editions of The 5 Minute Wrap Up (Subscription Required).

Moving on to the stocks from banking sector. According to a leading financial daily, Amazon India recently announced the expansion of its Seller Lending Program through a strategic partnership with Yes Bank to provide working capital loans to merchants on its platform as it looks to boost business during the festive season. The partnership intends to develop synergistic solutions for Micro, Small & Medium Enterprises (MSMEs) and SMEs across the country.

Reportedly, Yes bank will help sellers on Amazon to profitably grow their business during the festive season by providing them comprehensive financial solutions ranging from current account, trade services, forex, payment gateway, business lending and loan products. The association will see the bank turn into the essential corporate broker for Amazon in India.

Further, this move will see the development of customized solutions for sellers of different scale & size on Amazon. Sellers will have digital access to the payment and lending solutions of Yes bank.

Earlier this year, Amazon had launched its Seller Lending Program to enable SMEs to easily access secured & unsecured loans between Rs 500,000 to Rs 20 million at very competitive interest rates, the reports noted. Share price of Yes Bank is currently trading up by 1%.

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Jan 18, 2018 (Close)