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Wockhardt shares skyrocket 18% to fresh 52-week high. Here’s why?
Shares of Wockhardt surged 18% in early trading to reach a new 52-week high of Rs 811.50 on NSE. The sharp increase followed the company's announcement of the successful use of its investigational antibiotic, Zaynich (Zidebactam/CefepimeWCK 5222), in treating a young, immune-compromised cancer patient at the Children's Hospital of Orange County in the US.
Like auto & pharma themes? These 2 stocks are your best bet: Rahul Shah
Post their numbers and the management guidance of single-digit growth in the current year, we have seen a decent fall in Sun Pharma. Overall the stock continues to remain strong in the specialty and the overall businesses. The risk versus reward and the valuation remains quite convincing in Sun, says Rahul Shah
Technical Breakout Stocks: How to trade UltraTech Cement, Suven Pharma and Titagarh Rail Systems on Friday
The Indian market closed in the green for the fourth day in a row on Thursday to hit fresh record highs. The S&P BSE Sensex climbed above 79,000 for the first time to hit a record high of 79,396 while the Nifty50 rose above 24,000 mark to hit a record high of 24,087.
Market Trading Guide: RIL, Sun Pharma among 5 stock recommendations for Thursday
Stock market benchmark indices Sensex and Nifty rallied for the third straight session and ended at their fresh all-time high levels on Wednesday in tandem with Asian peers and buying in Reliance Industries. The 30-share index climbed 621 points to settle at a new closing peak of 78,674. The Nifty went up by 148 points to a record closing peak of 23,869. The present upside momentum could find resistance at the highs of around 24,000-24,100 levels (1.786% Fibonacci extension of crucial bottom/top/bottom of 2020-2022) and one may expect next round of consolidation or minor weakness to emerge from the highs. Immediate support is at 23,650 levels, said Nagaraj Shetti of HDFC Securities.
Block deals worth over Rs 40,543 crore this week. Indus Towers, HAL, Suzlon Energy among stocks with major action
Despite the Nifty index closing the shortened trading week with a slight increase of 0.4%, significant activity was observed in block deals. Over three dozen companies across various market caps saw block deals worth a total of ₹40,543 crore, involving both buying and selling.
Vodafone Idea, Bajaj Finance among 5 stocks with short buildup
A short buildup is when there is a rise in open interest and volumes along with a decrease in the price of the underlying stock in the Futures and Options segment. Short buildup means more people are expecting the prices to go down and creating short positions. In Thursday's trading session, five stocks witnessed a build of fresh short positions. Here's the list:
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Delta Corp shares surge 15% on GST cut hopes
Shares of Delta Corp, the sole listed company in India's casino gaming industry, saw a significant surge of nearly 15%. This increase in stock price came amidst expectations that the Goods and Services Tax (GST) Council might review the tax structure applicable to online gaming in its upcoming meeting scheduled for June 22.
Gland Pharma shares tumble over 3% after Fosun Pharma likely sells 6.2% stake via block deal
Shares of Gland pharma fell 3.7% as Shanghai-based Fosun Pharma offloaded a 6.2% stake in a block deal managed by UBS, decreasing its holding from 75% to 58.36%.
Fosun likely to sell 5% stake in Gland Pharma
Fosun will sell the shares at Rs 1750 per share which is 4.9% discount to the last traded price of Rs 1839.65. Fosun currently has a 57.86 percent shareholding in Gland Pharma.
Stock Radar: This pharma stock breaks out from 13-week consolidation to hit record highs; time to buy?
Cipla Ltd, a leading pharma company, broke out to a new high from a 13-week consolidation, supported by technical indicators. It moved in a range after hitting a high of 1,519 in March 2024.
Motilal Oswal initiates coverage on Mankind Pharma with target price of Rs 2,650
Motilal Oswal initiated coverage on Mankind Pharma with a 'buy' call and target price of Rs 2,650. The company's disruptive strategy in establishing its DF business has made it an industry leader in prescriptions.
Hot Stocks: Brokerage view on Tata Consumer, Varun Beverages and Mankind Pharma
Top brokerage firms like Motilal Oswal, Jefferies, and Morgan Stanley have issued buy ratings and targets for Mankind Pharma, Nykaa, Tata Consumer, and Varun Beverages.
Pankaj Pandey on 4 sectors that may outperform in near term
But our overall sense is that one needs to sort of watch out for Budget plus the element of optimism. Although they have some head room in terms of higher RBI dividend plus, obviously there can be structural savings on the subsidy side especially related to fertilisers, so it remains to be seen how they sort of utilise.
Buy Mankind Pharma, target price Rs 2650: Motilal Oswal
Mankind Pharma Ltd., incorporated in the year 1991, is a Small Cap company (having a market cap of Rs 89132.93 Crore) operating in Pharmaceuticals sector.
Stock Radar: This pharma stock sees mild consolidation after 130% rally in 1 year; time to buy the dip?
The pharma stock is a part of the S&P BSE Smallcap index. It saw an uptrend, rising from Rs 393 as of June 9, 2023, to Rs 901 recorded on June 10, 2024. It has, however, undergone mild consolidation of approximately 100 points since April on the daily chart. The stock is in recovery mode with chances of momentum to continue are moderate. Short-term traders can look to accumulate the stock on dips.
Block deals worth over Rs 7,640 crore this week. Chandrababu Naidu’s Heritage Foods, Adani Ports see top action
The week was an eventful one. Besides the general election results, D-Street saw some prominent block deals which included over three dozen companies from large, mid and smallcap segments. Shares worth Rs 7,640 crore were traded on screen, which included both buying and selling.
PFC, Glenmark Pharma among 5 stocks with short buildup
A short buildup is when there is a rise in open interest and volumes along with a decrease in the price of the underlying stock in the Futures and Options segment. Short buildup means more people are expecting the prices to go down and creating short positions. In Friday's trading session, five stocks witnessed a build of fresh short positions. Here's the list:
Move over PSUs, defensive bets can be the next big story under Modi 3.0
Defensive sectors like FMCG and pharma are emerging as potential winners under Modi 3.0, with experts forecasting gains fueled by rural push and policy actions. Investors are advised to explore stocks like HUL, Dabur, and pharma majors for potential returns amidst PSU valuation concerns.
Hot Stocks: Brokerages view on Aurobindo Pharma, Apollo Hospitals, Suzlon & Titan Company
Top brokerage firms like Macquarie maintained an outperform rating on Aurobindo Pharma, raising the target price to Rs 1,385. Aurobindo Pharma signed a master service agreement with Merck Sharp & Dohme, leading to a biologics CMO contract with TheraNym.
Torrent Pharma, Glenmark Pharma shares jump up to 9% after Q4 results
Shares of Torrent Pharma and Glenmark Pharma surged post Q4 results. Torrent Pharma's net profit jumped 56% YoY while Glenmark Pharma reported increased losses. Motilal Oswal provides target prices for both companies.
Stocks with tailwinds called advantage India: 5 largecap stocks from 3 different sectors with an upside potential of upto 36 %
In terms of valuations and sentiment we are not far from the place where we were in the last quarter of 2023 or early part of this year. When it was not possible to find stocks which can be called as “fairly valued” forget “undervalued”, and the sentiment was very bullish. The only difference between then and now is that we have election results which are coming up. Surely a confirmation on 4th June that continuity in the policy making is a big factor. But there is another thing which long term investors need to look at before investing. Whether the company or the sector has an advantage due to India as a country. A well known example, which has been present for decades is that of the IT industry. India as a country is a factory of software engineers, and that is our strength. So when investing for the long term, look at sectors where we have some strong tailwinds due to our human capital.
Local pharma companies queue up for JB Chemicals & Pharmaceuticals
Mankind Pharma, Dr Reddy's Laboratories, and Torrent Pharma are interested in acquiring JB Chemicals & Pharmaceuticals from KKR. KKR's investment arm, TAU Investment, owns 53.78% in JB Chemicals, worth Rs 14,020 crore. The company's revenue doubled to Rs 3,484 crore in FY24 under KKR's ownership. JB Chemicals has made four acquisitions in the last four years, investing $200 million. However, global private equity funds are not pushing for JB Chemicals due to high valuations.
Sanjiv Bhasin on why Biocon is a Dark Horse play and Mankind a ‘Hold’
Sanjiv Bhasin says Mankind has been a revelation purely on the back of some of the launches which have been well accepted and their domestic business has actually been way ahead of most of the peers. There is margin on the upside given that it is enlarging its share., but the stock has already run up a lot. So he says it should be a 'hold' for now.
Mankind Pharma Q4 Results: Net profit jumps 62% YoY to Rs 477 crore
Mankind Pharma on Wednesday reported 62% year-on-year (YoY) jump in net profit to Rs 477 crore in Q4FY24 led by strong domestic formulation sales and one-off US export opportunities.
Mankind Pharma Q4 Results: PAT zooms 62% YoY to Rs 477 crore, revenue jumps 19%
Mankind Pharma Q4 Results: The revenue from operations stood at Rs 2,441 crore versus Rs 2,053 crore reported in the year-ago period. Its board approved the raising of funds worth Rs 7,500 crore via the issuance of equity shares. For the full financial year, the consolidated PAT stood at Rs 1,942 crore as against Rs 1,310 crore reported in FY23.
Stocks in news: PFC, Mankind Pharma, Patanjali Foods, Bharti Airtel, Siemens, Cipla
Benchmark equities surged for the third consecutive day on Tuesday. PFC, Mankind Pharma, Patanjali Foods, Bharti Airtel, Siemens, and Cipla are in focus for news developments and quarterly results. RVNL, Dixon, and Titagarh will also announce their fourth quarter results today.
Mankind Pharma stock falls 3% as PE investors likely sell 1.3 crore shares
PE firm ChrysCapital's affiliate entity Beige Ltd was reported to have issued a term sheet via its broker to sell up to 1.16 crore shares of Mankind Pharma at a price range of Rs 2,103.21 to Rs 2,214 per share.
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