Sensex Trades Flat; Pharma Stocks Lead Gains

Mon, 15 Oct 12:30 pm

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After opening the day in green, share markets in India have traded on a volatile note and are presently trading below the dotted line. Sectoral indices are trading mixed with stocks in the metal sector and stocks in the consumer durables sector trading in red. While stocks in the pharma sector are trading in green.

The BSE Sensex is down by 8 points (down 0.1%) and the NSE Nifty is trading down by 10 points (down 0.1%). Meanwhile, the BSE Mid Cap index is trading up by 0.4%, while the BSE Small Cap index is trading up by 0.9%. The rupee is trading at 72.28 to the US$.

In news from stocks in the pharma sector. Dr Reddy's Lab share price is in focus today after the company entered into a definitive agreement for the sale of its API manufacturing business unit located in Jeedimetla, Hyderabad.

The drug maker sold the unit to Therapiva in a slump sale that included unit's fixed assets (land and building), current assets, current liabilities, and its employees.

Therapiva a generics manufacturer is a joint venture between Omnicare Drugs India Private Limited, a wholly owned subsidiary of Neopharma LLC, Abu Dhabi and Laxai Life Sciences Private Ltd.

At the time of writing, Dr Reddy's share price was trading up by 4%.

Speaking of pharma stocks. The healthcare index seems to have weathered the storm in the Indian markets.

Pharma and IT Outshine Their Peers

Here's what Kunal Thanvi, Research Analyst, had to say about IT stocks in a recent edition of the 5 Minute Wrapup:

2018 has been an eventful year, to say the least. The Sensex touched all-time high of 38,990 last month.

The rupee is touching all time lows and crude is going up and gained around 13% in 2018.

The midcap and smallcap indices are feeling the heat.

I thought it would be an interesting exercise to see how sectorial indices are performing in 2018.

Here's the result.

BSE IT index is up whopping 41% in 2018. The BSE Healthcare index also did well and is up 8.5%.

Over the last three months, the BSE Healthcare index rose by 24%.

Whereas, the BSE Auto and the BSE Oil & Gas indices were down 8.6% and 9.1% respectively.

With the rupee breaching the 72 mark, IT and pharma are outperforming all other indices.

In the near term, the rupee being under pressure could benefit export-oriented businesses.

My last month's Smart Money Secrets recommendation will benefit from the rupee depreciation.

The company derives around 65% of the revenue from exports. The icing on the cake is the company's focused entry into the B2C segment, which provides it a long runway for future growth.

I believe, the potential upside in this stock is 79%.

If you're a Smart Money Secrets subscriber, read the detailed report here.

If not...you can get the report by signing up here.

Moving on to news from stocks in the engineering sector. Larsen & Toubro (L&T) share price is in focus today as the company bagged major orders.

L&T said that that its heavy engineering arm bagged additional orders worth over Rs 10 billion during the September quarter.

The orders include three super heavy hydrocracking reactors for an Indian refinery to be built for the first time in the world. The total order inflow in H1 FY19 for the process plant and nuclear equipment business of heavy engineering reached Rs 26.6 billion.

At the time of writing, L&T share price was trading down by 1.5%.

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

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