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Share markets in India are presently trading on a positive note. All sectoral indices are trading in green with stocks in the realty sector and auto sector witnessing maximum buying interest.

The BSE Sensex is trading up by 172 points (up 0.5%), while the NSE Nifty is trading up by 56 points (up 0.5%). The BSE Mid Cap index is trading up by 1.1% and the BSE Small Cap index is trading up by 0.9%.

The rupee is trading at Rs 71.51 against the US$.

In the news from the banking space, Bandhan bank is witnessing buying interest today. Shares of the bank climbed around 7% in early trade after the Reserve Bank of India (RBI) allowed the bank to open as many as 40 new branches, the first time since it put a restriction on the bank's branch opening spree three months back.

In September, the Reserve Bank of India had barred Bandhan Bank from opening new branches without its approval and had ordered it to freeze the MD's salary over its failure to meet shareholding rules.

The RBI took the decision as the bank was not able to bring down the shareholding of non-operative financial holding company to 40%, as required under the licensing condition.

According to RBI's new licensing guidelines, the bank's promoter, Bandhan Financial Holdings Ltd, has to reduce its stake from 82% to 40% within three years of commencing the business.

Thereafter, banks are required to reduce their shareholding to 20% and 15% within 10 years and 12 years, respectively. Bandhan Bank's deadline ended on 23 August.

At the time of writing, Bandhan Bank share price was trading up by 6.5%.

Moving on to the news from the pharma space, Sun pharma is witnessing selling pressure today as the markets regulator said that it is examining the whistleblower complaint against Dilip Shanghvi-led Sun Pharmaceutical Industries.

A whistleblower had last month approached markets regulator with a document alleging various irregularities by the company, its promoter Shanghvi and others.

The whistleblower made allegations in a 150-page letter sent to the markets regulator, which had earlier banned Doshi and Parekh following the 2001 scam.

According to the news in a leading financial daily, the irregularities involved two or three major rounds of foreign currency convertible bonds (FCCBs) issues by Sun Pharma during 2002-2007, which was managed by Jermyn Capital LLC.

Sun Pharma share price is trading down by 1.4%.

You can read Sun pharma Q2FY19 result analysis and Sun pharma fact sheet on our website.

In another news, Strides Pharma Science is also in focus today as the company's wholly owned subsidiary, Strides Pharma Global Pte., Singapore has received approval from the United States Food & Drug Administration (USFDA) for Lidocaine Ointment USP 5%.

Lidocaine Ointment contains a local anesthetic agent which is administered topically to numb and relieve pain from minor burns, skin abrasions, and other painful conditions affecting mucous membranes. Lidocaine Ointment is also used to numb the skin before certain medical procedures.

According to IQVIA MAT data, the US market for Lidocaine Ointment USP 5% is approximately US$50 million. The product will be marketed by Strides Pharma Inc. in the US Market and will be launched immediately.

To know more about the company, you can read Strides Pharma Q2FY19 result analysis and Strides Pharma annual report on our website.

Speaking of pharma sector, note that the BSE Healthcare Index has been on a roller coaster ride in the past few years. The period from 2012 to 2015 saw the index go up more than three times.

And since then it has been a painful ride downwards, as can be seen from the chart below:

The Roller Coaster Ride of the BSE Healthcare Index

As we wrote in one of our editions of The 5 Minute WrapUp...

• Pre-2015, pharma companies enjoyed a fairytale ride in the US market. Low labor costs, good chemistry skills, along with efficiency, ensured Indian companies could copy innovator drugs to make generic drugs at a fast pace.
  
  The generic business had lucrative margins for all major pharma players. But the party did not last long. In the quest to supply drugs quickly, they compromised on quality at their manufacturing facilities.
  
  No wonder, the US regulatory authority (USFDA) took strict action. Sun Pharma received a warning letter for its Halol manufacturing facility in 2015. It was like a bolt out of the blue. Since then, the downward spiral began and has continued till date.

We believe that pharma companies that invest in creating a pipeline of complex generics or building competencies in alternative dosage forms are better equipped to tackle the changing dynamics in the US generics market as well as in the overall industry.

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

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