After opening firm, the Indian Indices are hovering around the dotted line, during the morning trading session. Consumer durables and healthcare stocks are leading the gainers; while realty stocks are trading in the red.
The BSE-Sensex is trading down by 10 points. The NSE-Nifty is trading down by 5 points. The BSE Mid Cap index is trading up 0.3% and the BSE Small Cap index is trading up 0.4%. The rupee is trading at 61.55 to the US dollar.
Majority of Indian pharma stocks and MNC pharma stocks are trading positive. In the Indian pharma space, Lupin Ltd and Aurobindo pharma are the leading gainers, while among the MNC pharma companies Sanofi India and Abbott India are in maximum demand. As per the financial daily, Cipla Ltd, has asked the government to revoke five patents of a respiratory drug Onbrez of Novartis. Cipla has asked the Department of Industrial Policy & Promotion (DIPP) to cancel the patents of Novartis on the ground that the Swiss company has held these patents for six years without making the medicine locally. Further, the company has also failed to import the required quantity of the drug in Indian markets which has also caused shortage of the said drug. Recently, Cipla has also launched the generic version of indacaterol with the brand name, Unibrez in the Delhi market and will be launching soon in the other markets as well. Cipla has launched this drug at one -fifth price of the innovator's drug. The outcome is still awaited.
Most software stocks are trading higher today. Wipro and HCL Technologies are leading the gainers. The CEO of India's second largest software firm Infosys, Dr. Vishal Sikka, has stated that the company was moving ahead with productivity improvements along with the drive to increase sales. The company is looking to improve the revenue per employee which is a key marker of productivity. As per a leading financial daily, the revenue per employee currently stands at US$ 50,000 for Infosys. Sales will be driven by the new strategy put in place by the management. The company's strategy will involve making investments in automation, 'design-thinking' and artificial intelligence. The stock was trading up 1.2% at the time of writing.