Tag: healthcare

Shares of Apollo Hospitals Enterprises rallied 8.35 percent to Rs 4,747 on the National Stock Exchange (NSE) in Friday's intra-day trade after the exchange announced the inclusion of the company in its benchmark Nifty50 index which will replace Indian Oil Corporation Ltd. with effect from March 31, 2022. Apollo Hospitals will become the first-ever healthcare services company to become part of the benchmark index and will replace Indian Oil Corporation. This replacement will also be applicable to NIFTY50 Equal Weight Index. The Nifty 50 is reconstituted twice every year in March and September. Edelweiss Securities expects Apollo Hospital’s inclusion in the index to result in an inflow of $143 billion, while Indian Oil will be removed and it will see an outflow of $91 million, it said.

With the frontline indices – the S&P BSE Sensex and Nifty 50 – surging over 20 percent each and to hit new highs during the calendar year despite threats from Coronavirus variants – Delta and Omicron, high crude oil prices, and change in monetary policy stance by central bankers around the world, the Dalal Street witnessed a record-breaking 2021. Sector-wise, 2021 belonged to power, metal, realty, and information technology sectors that were among the top performers in the year gone by. The phenomenal subscription levels of some of the initial public offers (IPO) and stellar listing saw the BSE IPO index notch up gains of around 54 percent during the year, data show. Read more

Shares of Bajaj Healthcare surged 11 per cent and hit 52 weeks high of Rs 1,009.80 on the BSE in intra-day trade on Thursday after the company received a licence from Defence Research and Development Organisation (DRDO) to manufacture and market "2-Deoxy-D-Glucose" (2-DG) as approved medication for the treatment of COVID-19 patients. The 2-DG Ccovid-19 control and treatment drug has been developed by the DRDO laboratory's Institute of Nuclear Medicine and Allied Sciences (INMAS), in collaboration with the pharma major Dr Reddy’s Laboratories. It has already received emergency approval from the Drugs Controller General of India (DCGI) for use on Covid-19 patients in the country. The drug comes in powder form and retails at Rs 990 per sachet, which is taken orally by dissolving it in water. It accumulates in the virus-infected cells and prevents virus growth by stopping viral synthesis and energy production. Read more

The share price of Bajaj Healthcare rallied 10 percent to hit a 52-week high of Rs 700 on Friday after the company received approval to launch a drug Posaconazole API to treat black fungus infection in COVID-19 patients.The company has received approval from FDA (Food and Drugs Administration) Gandhi Nagar, Gujarat (India), to manufacture and market Posaconazole API as approved medication for treating Mucormycosis in India, Bajaj Healthcare said in a regulatory filing.Bajaj Healthcare said it will commence its commercial production from the first week of June 2021.Posaconazole is a triazole antifungal agent indicated for treating Mucormycosis patients. More than 11,000 cases of black fungal infection have been reported from different parts, forcing state governments to declare it an epidemic. Read more

Shares of pharmaceutical companies are in demand with Nifty Pharma and the S&P BSE Healthcare indices gaining 2 per cent each and hitting their respective all-time highs on Tuesday as a significant resurge in Covid-19 cases across India led to a spike in demand for Covid-related drugs. Shares of Cadila Healthcare up 6.17 per cent, Dr Reddy's Laboratories up 4.58 per cent, Aurobindo Pharma up 3.42 per cent, Lupin up 3.1 per cent and Sun Pharmaceutical Industries up 1.97 per cent were among the top gainers. Sun Pharmaceutical Industries, Cadila Healthcare, Glenmark Pharmaceuticals, Panacea Biotech and RPG Lifesicenes are among those that hit 52-week highs in the intra-day trade today.Dr Reddy's stock is in focus after the company said it is going to roll out the Sputnik V COVID-19 vaccine by May-end or early June. Read more

Prime Minister Narendra Modi on Friday while virtually addressing an all-party meeting on COVID-19 situation, said Coronavirus vaccines are expected to be ready in the next few weeks and the government will start vaccinating Indians as soon as the scientists give a nod and declared that healthcare workers involved in treating coronavirus patients, frontline workers and old people suffering from serious conditions would be inoculated on priority. Modi added that the Indian scientists are confident with the work in vaccine development against the novel Coronavirus. Nearly eight vaccines are at different stages of trial like Bharat Biotech-ICMR, Oxford-AstraZeneca, Zydus Cadila, Biological E and Dr Reddy’s with their manufacturing assured in India, Modi said. Three vaccines from India are also at different stages of the trial, he said. Modi also asserted that vaccines will also be the cheapest, hence, other countries are closely monitoring it. Read more