Tag: pharma

Glenmark Pharma jumps 5 percent post December quarter earnings

Glenmark Pharma jumps 5 percent post December quarter earnings
Monday, February 13, 2023
Shares of Glenmark Pharma surged over 5 percent to a high of Rs 421 in an otherwise sluggish market, after the drug maker reported steady earnings for the quarter that ended December 2022. Glenmark Pharmaceuticals Ltd on Friday reported a 21.3 percent rise in consolidated profit after tax at ₹290.8 crores for the third quarter ended December 31, 2022. as against Rs 240 crore in the corresponding quarter a year ago. In the December quarter, total revenue stood at Rs 3,463.8 crore during the period under review, up 9.2 percent against Rs 3,173.4 crore in the corresponding period of the preceding fiscal. The company had a one-time gain of Rs 34 crore in Q3, which is a net gain from the sale of its cardiac brand—Razel's India—and Nepal business, against the remediation cost of the company's Monroe manufacturing site in the U.S. Read more

Marksans Pharma shares jump 8% to hit 52-week high today

Marksans Pharma shares jump 8% to hit 52-week high today
Wednesday, January 11, 2023
Shares of Marksans Pharma surged more than 8 percent and hit a 52-week high of Rs 67.40 in Wednesday's trade, extending their gains for the third straight session amid heavy volumes, after the company announced that its Board will consider and allot fully paid-up equity shares against convertible warrants to the promoter and OrbiMed Asia. Its previous close was Rs 62.25. The company, in an exchange filing, said that a board meeting would be held on January 20 to consider and allot fully paid-up equity shares. per an exchange filing, promoter Mark Saldanha will be allotted 10 lakh equity shares at Rs 74 apiece. OrbiMed Asia IV Mauritius FVCI Limited will be allotted 4.9 crore shares at Rs 74 each. This brings the total issue to Rs 372 crore."Expected approval by the board of directors in favor of the owner led to a strong uptrend in Marksans Pharma's stock price. A daily close above Rs 64 could lead to targets of Rs 67-73.65 in the coming days," said AR Ramachandran from Tips2trades. Read more

Granules India gains after collaboration with Greenko ZeroC

Granules India gains after collaboration with Greenko ZeroC
Tuesday, January 3, 2023
Granules India, a Hyderabad-based pharmaceutical company, gained 2.61% to Rs 328.70 on Tuesday, as it entered into a strategic partnership with Greenko ZeroC to collaborate for green molecule solutions and its wider applications in pharmaceuticals to build its position in sustainability and circular economy initiatives. Granules India and Greenko ZeroC will develop and promote a state-of-the-art integrated Green Pharmaceutical Zone (GPZ) with the first collaboration at Kakinada in Andhra Pradesh, the company said in a filing to the exchanges on Tuesday."Granules will build a green field facility based on sustainability principles for large-scale manufacturing of key starting materials (KSMs), Intermediates, APIs, and fermentation-based products. The facility spread across 100 acres, will be commissioned in a phase-wise manner. The facility would be spread across 100 acres for the project with an estimated cost of approximately Rs 2,000 crore over five years. Read more

Sun Pharma down 4 percent as USFDA issues import alert on Halol facility

Sun Pharma down 4 percent as USFDA issues import alert on Halol facility
Thursday, December 8, 2022
Shares of Sun Pharmaceutical Industries slipped 4 percent to Rs 975 on the BSE in Thursday’s intra-day after the company said that the US health regulator had put its manufacturing facility at Halol under import alert. “This is with respect to our communication dated May 10, 2022, and August 13, 2022, regarding the USFDA inspection at the Company’s Halol (Gujarat) facility from April 26 to May 9, 2022. We now wish to inform you that the Company has received a communication from the USFDA stating that the facility has been listed under Import Alert," Sun Pharma said in a regulatory filing.The 'Import Alert' implies that all future shipments of products manufactured at this facility are subject to refusal of admission to the US market until the facility becomes compliant with CGMP (Current Good Manufacturing Practice) standards. The USFDA has excluded 14 products from the restriction, the company said. Read more

Gland pharma enters into agreement with Cenexi

Gland pharma enters into agreement with Cenexi
Wednesday, November 30, 2022
Shares of Gland Pharma slipped 5 percent to Rs 1,787.55 on the BSE in Wednesday's intra-day trade after the company entered into a Put Option Agreement to acquire 100 percent of Cenexi Group for an equity value not exceeding Euro 120 million (Enterprise Value of Euro 230 million). The acquisition would provide the company with the technical know-how in sterile forms, including ophthalmic gel, needleless injectors, and hormones said, analysts. As the acquisition fulfills the need for a local presence to gain business in European markets, it is looked at in a positive light by analysts. The acquisition will be funded through internal accruals. Commenting on the deal, Srinivas Sadu, Managing Director and CEO of Gland Pharma, said during an analyst call earlier in the day: “Thanks to this deal, Gland would become one of the largest players in the CDMO space. This acquisition will not only help expand footprint but also accelerate product portfolio in the European market. Read more

Advanced Enzyme surges 12% as Nalanda India Equity Fund ups stake by 3%

Advanced Enzyme surges 12% as Nalanda India Equity Fund ups stake by 3%
Tuesday, September 20, 2022
Shares of enzymes manufacturer Advanced Enzyme Technologies Ltd. jumped 12 percent to Rs 298 on the National Stock Exchange (NSE) on Tuesday's intraday, the most since February this year after Nalanda India Equity Fund increased its stake in the company. On September 20, 2022, Nalanda India Equity Fund purchased 2.91 million equity shares, representing a 2.6 percent stake in Advanced Enzyme Technologies, worth Rs 78.62 crore via block deal, NSE data shows. The sellers in this transaction were the company's promoters, who sold 25.7 lakh shares or 2.5 percent of the total equity. As of the quarter ended June, promoters held a 52.7 percent stake in the company. Nalanda India Equity Fund has been consistently increasing its stake in the company as evident from the data. As of the June quarter, the fund held a 6.2 percent stake in the company worth nearly Rs 200 crore. It had increased its stake in the March quarter this year to 6.1 percent from 4.7 percent last year. Read more

Gland Pharma fell 12 percent post Q1 result

Gland Pharma fell 12 percent post Q1 result
Thursday, July 21, 2022
Shares of pharmaceutical company Gland Pharma hit a 52-week low of Rs 2,182 as they slipped 12 percent on the BSE in Thursday's intra-day trade. Consolidated net profit declined 35% YoY and 20% sequentially to Rs 229 crore in the Apr-Jun quarter, led by lower operating income and a 26% YoY fall in revenue from operations at Rs 857 crore in the period. The pharmaceutical company's PAT stood at Rs 351 crore in Q1FY22. On a sequential basis, PAT was down 20 percent from Rs 286 crore in Q4FY22The company's revenue from operations declined 26 percent YoY to Rs 857 crore from Rs 1,154 crore, and 22 percent QoQ from Rs 1,103 crore. Last year's revenue was higher due to Covid-19-related product sales. The company said continued supply disruption, cost escalation, and the Company’s decision to shut down two of its manufacturing lines for productivity improvement have affected the business for the quarter. Read more

MARKET UPDATE: Sensex rose 300 points to 54,527, and the NSE Nifty50 gained 90 points to 16,222

MARKET UPDATE: Sensex rose 300 points to 54,527, and the NSE Nifty50 gained 90 points to 16,222
Friday, July 8, 2022
Indian equity markets started today's(8 July 2022) session firmly higher tracking strength in Asian and the US markets. The BSE Sensex rose 300 points to 54,527, and the NSE Nifty50 gained 90 points to 16,222. M&M, L&T, ICICI Bank, NTPC, Infosys, Axis Bank, Kotak Bank, ITC, HCL Tech, and Tech M were the top winners on the Sensex. Coal India, Grasim, and Britannia were the additional top gainers on Nifty. On the downside, Asian Paints, Titan, Tata Steel, JSW Steel, Dr Reddy's, Bajaj Finance, IndusInd Bank, Hindalco, and ONGC were the top losers across the two benchmarks. The broader markets also opened in green. The BSE MidCap and SmallCap indices were up to 0.3 per cent higher. Sector-wise Nifty Bank, Auto, Financials led sectoral gains. Nifty metals were the sole laggard among sectors. Among stocks, Suven Pharmaceuticals rose 2.6 per cent. The company has received US FDA approval for Glycopyrrolate. Glycopyrrolate is used to treat peptic ulcers in adults.

MARKET UPDATE:Sensex rose around 200 points to 56,660, while NSE Nifty at 16,918, higher by 50 points

MARKET UPDATE:Sensex rose around 200 points to 56,660, while NSE Nifty at 16,918, higher by 50 points
Tuesday, March 15, 2022
The Indian benchmark indices started to trade on a higher note extending their strong rally to a sixth session amid a sharp fall in crude oil prices from their record highs. The BSE Sensex rose around 200 points to 56,660, while the NSE Nifty was at 16,918, higher by 50 points. Among the Sensex-30 shares, Asian Paints, M&M, Maruti, Ultractech Cement, Axis Bank, L&T, ICICI Bank, HDFC Bank, and SBI were the top gainers. On the Nifty, Tata Consumer, Cipla, Eicher Motors, and Tata Motors were the additional gainers, up to 2 percent higher. On the downside, Tata Steel, Reliance, Infosys, Kotak Bank, NTPC, Tech M, ONGC, Hindalco, JSW Steel, Indian Oil, and Coal India were the top losers on the bourses, down up to 4 percent. Read more

For 2022 analysts are betting on IT services, telecom and financials

For 2022 analysts are betting on IT services, telecom and financials
Friday, December 31, 2021
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

Alembic Pharma share price falls 5% after quarter results

Alembic Pharma share price falls 5% after quarter results
Thursday, November 11, 2021
Alembic Pharmaceuticals' share price fell over 5 percent intraday to Rs 757 after the company reported a weak set of numbers for the quarter ended September 2021. The company's consolidated profit declined 49 percent year on year (YoY) at Rs 169 crore in the September quarter (Q2FY22), due to lower revenue. The pharmaceutical company had posted a profit of Rs 333 crore in the year-ago quarter. The revenue was down 11.3% at Rs 1,292.32 crore versus Rs 1,457.10 crore, YoY. The US revenue declined 40 percent to Rs 348 crore on a YoY basis. However, India's business grew 23 percent to Rs 509 crore over the previous year's quarter. Earnings before interest, tax, depreciation, and amortization (EBITDA) were down 42 percent at Rs 257.2 crore versus Rs 443.5 crore and the margin was down at 19.9% versus 30.4%, YoY. The management believes the current US sales figures ($47 million per quarter) are the new base, and these are expected to improve hereafter, led by new launches. Read more

Sun Pharma Q2 Results : Profit Rises 13% In September

Sun Pharma Q2 Results : Profit Rises 13% In September
Tuesday, November 2, 2021
Shares of the country's leading drug maker - Sun Pharma on Tuesday reported a 13 percent year-on-year (YoY) rise in consolidated net profit to Rs 2,047 crore, compared to Rs 1,813 crore reported in the same quarter in 2020. which was sharply above analysts’ expectations. Strong operating performance and healthy revenue growth supported the bottom line during the quarter. Analysts had expected the company to report a consolidated net profit of Rs 1,698.7 crore and revenues of Rs 9,443.4 crore for the reported quarter. Consolidated revenue came in higher at Rs 9,626 crore for the quarter, compared to Rs 8,553 crore in September 2020 quarter, registering a 12.5 percent growth. Sun Pharma's India sales jumped 26 percent to ₹ 3,187 crores while its sales in the US came in at $361 million, up 8 percent annually. Sun Pharma's EBITDA also known as operating profit came in at ₹ 2,560.8 crores, up 21 percent over Q2 last year, with a resulting EBITDA margin of 26.8 percent. Read more

MARKET UPDATE: Sensex at 60,118 levels, down 21 points,while at 17,923, down 6 points

MARKET UPDATE: Sensex at 60,118 levels, down 21 points,while at 17,923, down 6 points
Tuesday, November 2, 2021
Profit-booking in metals, pharma, and select market heavyweights like Reliance Industries, HDFC, ITC, SBI, and Tech M has brought the benchmark indices off highs today(2nd Nov.2021) At 10:10 AM, the Sensex index was at 60,118 levels, down 21 points, while the Nifty50 was at 17,923, down 6 points. In the broader market, however, the BSE MidCap index was up 0.4 percent and the BSE SmallCap index was up 0.8 percent. Sectorally, shares of the companies engaged in the Shipping business were rallying on the bourses after data showed exports in the month of October surged over 40 percent. Shreyas Shipping rallied over 13 percent in the intra-day trade, followed by GE Shipping Corp (4 percent), and SCI (3 percent). The Nifty Healthcare index was down 1 percent with Sun Pharma falling over 3 percent, Dr. Reddy's Labs (1.5 percent), and Dr. LalPath Labs (1 percent). In the currency markets, the rupee opened at 74.85 per US dollar compared with Monday's close of 74.87/$.

Piramal Enterprises down 5 percent on demerger plan of pharma business

Piramal Enterprises down 5 percent on demerger plan of pharma business
Friday, October 8, 2021
Shares of Piramal Enterprises were down 5 per cent to Rs 2,727.80 on the BSE in Friday's intra-day trade on profit booking after the company's board approved the demerger of the pharmaceuticals business and simplification of the corporate structure."The board of directors of Piramal Enterprises on October 7, approved a composite scheme of arrangement providing for the demerger of the pharmaceuticals business from Piramal Enterprises and simplification of the corporate structure to create two industry-focused listed entities in financial services and pharmaceuticals," company said in its release. While the financial services, including the recently acquired DHFL, will remain under Piramal Enterprise Ltd (PEL), the pharmaceutical operations will be carved out into a separate entity called Piramal Pharma Limited (PPL). Existing shareholders of PEL will get four shares of PPL for one share of PEL. Read more

MARKET UPDATE:Sensex rose over 120 points to trade at 59,872 levels while Nifty above 17,850

MARKET UPDATE:Sensex rose over 120 points to trade at 59,872 levels while Nifty above 17,850
Wednesday, October 6, 2021
The Indian benchmark indices opened in the positive territory today(6th October 2021) with Nifty above 17,850. The BSE Sensex rose over 120 points to trade at 59,872 levels. The 50-pack index, meanwhile, gained nearly 50 points at 17,870. ONGC, IOC, and Coal India were the top gainers on the benchmark index. Top laggards were Titan, Divi's Lab, SBI Life, and IndusInd Bank. Sectorally, barring Nifty IT and Pharma, all indices were in the green. The broader indices, too, opened higher. The Nifty Midcap 100 rose 0.4 percent and the Smallcap 100 was higher by 0.7 percent. In pre-open itself, the Midcap index had hit new record high levels. Read more

MARKET UPDATE:Sensex dropped over 100 points to trade below the 60,000 while Nifty trading near the 17,800-mark at 17,921

MARKET UPDATE:Sensex dropped over 100 points to trade below the 60,000 while Nifty trading near the 17,800-mark at 17,921
Tuesday, September 28, 2021
The Indian benchmark indices opened in the negative territory today(28th Sept.2021) amid tepid Asian cues. The BSE Sensex dropped over 100 points to trade below the 60,000-mark at 59,943. The Nifty50, meanwhile, was trading near the 17,800-mark at 17,921. Coal India, NTPC, UltraTech Cement, ONGC were among the top gainers in the 50-pack index. The top laggards were in the IT sector, namely HCL Tech, Infosys, Tech Mahindra, and Wipro. On the sectoral front, most indices were in the red with Nifty Realty falling 2 percent. Other losers were Nifty IT, Media, and Pharma. the only gainers were PSU Bank up 1 percent, Nifty Metal, and FMCG.

MARKET UPDATE: Sensex trading at 53,230 levels, up 280 points and Nifty hit fresh record peak of 15,975, up 90 points

MARKET UPDATE: Sensex trading at 53,230 levels, up 280 points and Nifty hit fresh record peak of 15,975, up 90 points
Tuesday, August 3, 2021
Indian equities rallied today(3rd August 2021), bucking weak Asian trend, amid gains in realty, FMCG, pharma, and IT stocks. The frontline S&P BSE Sensex was trading at 53,230 levels, up 280 points while the Nifty50 index hit a fresh record peak of 15,975, up 90 points. The index is only 25 points shy of the 16,000-mark. In the broader markets, too, the BSE Mid- and SmallCap indices hit new peaks, advancing up to 0.5 percent, in intra-day trade. about seventy companies are looking to release their quarterly earnings, including Adani Ports, Adani Enterprises, Bharti Airtel, Barbeque Nation, Dabur, Inox Leisure, and Tata Consumer Products. In regards to Airtel, analysts believe the company may report stable ARPU sequentially and nearly flat revenue growth. Further global cues will continue to sway market sentiments.

Sell-off in pharma stocks: Sensex drops 274 points

Sell-off in pharma stocks: Sensex drops 274 points
Tuesday, July 27, 2021
Weak global cues and some disappointing shows by India Inc. in the June quarter pushed benchmark indices lower today(27th July 2021), wiping off early gains. Pharma stocks were among the biggest drags. Investors grew nervous on the back of selling across Chinese markets by global funds. On the other hand, certain pockets across the broader market like textile exporters and coffee stocks posted smart gains on the back of rising coffee futures, according to an analyst. The 30-share pack Sensex declined 273.51 points or 0.52 percent to close at 52,578.76. The index fell nearly 450 points from its highs. Its broader peer NSE Nifty fell 78 points or 0.49 percent to 15,746.45. Barring Nifty Metal and Nifty PSU Bank that rose 1.46 percent and 0.38 percent, respectively, all other sectoral indices on NSE ended in the red. Nifty Pharma tanked the most at 4.33 percent. Nifty Private Bank and Nifty Realty fell about a percent each. Read more

Revival uncertain, Which stock to bet on -IT, pharma or consumer stocks?

Revival uncertain, Which stock to bet on -IT, pharma or consumer stocks?
Monday, July 12, 2021
Clearly, the market has been able to take the Second Covid Wave in stride, and very strong liquidity continues to flow into the markets. In addition to that, some of the very short-term high-frequency indicators have been pretty much positive and have been in strong momentum. On the whole, the market has essentially been able to take any kind of softness in the June quarter numbers and is willing to look at the second half of this financial year and beyond. The markets probably are more in a medium-term mindset, the experts feel. Read more

Natco Pharma hits 52 week on starting production of 'Black Fungus' drug

Natco Pharma hits 52 week on starting production of 'Black Fungus' drug
Monday, May 24, 2021
Share of Natco Pharma rose 20 per cent to hit a fresh 52-week high of Rs 1188.95 in early tradeafter the Drug Controller General of India (DCGI) gave its nod to the firm to start manufacturing antifungal drug Amphotericin B liposomal injection, which is critical in the treatment of Mucormycosis, also called 'Black Fungus'. Also the company initiated phase III clinical trial to evaluate the efficacy and safety of Molnupiravir capsules in mild COVID-19 patients in India.The first dose under the phase-III trials was given to a patient in the city-based Yashoda Hospitals, the Hyderabad-based firm said in a regulatory filing. Meanwhile the company said it has received approval from the US health regulator for the generic version of Celgene's multiple myeloma drug, Revlimid (Lenalidomide) capsules in US. Lenalidomide capsule is indicated for treatment of adults with multiple myeloma, mantle cell lymphoma and myelodysplastic syndromes. Read more

Sun Pharma hits new high after getting licence to produce low-cost COVID-19 drug

Sun Pharma hits new high after getting licence to produce low-cost COVID-19 drug
Tuesday, May 11, 2021
Shares of Sun Pharmaceutical Industries hit a 52 week high of Rs 721.85, up 3 percent on the BSE in intra-day trade on Tuesday after it signed an agreement with Eli Lilly to manufacture its drug, Baricitinib in India. "Sun Pharma yesterday announced that it has entered into a royalty-free, non-exclusive voluntary licensing agreement with Eli Lilly and Company for expanding access to Lilly's drug, Baricitinib in India. "Baricitinib is used in combination with Remdesivir for the treatment of suspected or laboratory-confirmed COVID-19 in hospitalized adults requiring supplemental oxygen, invasive mechanical ventilation, or extracorporeal membrane oxygenation (ECMO). The drug is approved by the Central Drugs Standard Control Organization (CDSCO) for restricted emergency use in India,"This is another step by Sun Pharma towards making more treatment options available to patients in India dealing with the pandemic, Sun Pharma added. Read more

Hikal hits upper circuit on signing 10-year deal with global pharma Co

Hikal hits upper circuit on signing 10-year deal with global pharma Co
Wednesday, May 5, 2021
Shares of smallcap firm Hikal on Wednesday, rallied 10 percent to Rs 313.65, and touched a new high, on the BSE in intra-day trade after the company signed a multi-year contract with a leading global pharmaceutical company for the development and supply of a portfolio of niche active pharmaceutical ingredients (APIs) over a period of 10 years. The development will start this year and commercial supplies will commence post successful development and plant commercialization estimated to be in FY 2024 onwards. With this deal, Hikal is entering into a niche area of chemistry and products thereby bolstering its Animal Health vertical. Hikal and its customer will be jointly investing at its Panoli, Gujarat site to set up a multipurpose manufacturing asset for manufacturing of these APIs, it said. Read more

Pharma index hits record high as govt launches phase 3 of Covid vaccination

Pharma index hits record high as govt launches phase 3 of Covid vaccination
Tuesday, April 20, 2021
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

Aarti Drugs gains 6% as board to consider buyback

Aarti Drugs gains 6% as board to consider buyback
Tuesday, March 16, 2021
Shares of Aarti Drugs were up 6 per cent at Rs 708 on the BSE in intra-day trade on Tuesday after the pharmaceutical company said its board will consider share buyback on Friday, March 19. A meeting of the Board of Directors of the company is scheduled to be held on Friday, March 19, 2021, to consider the proposal of buyback of the fully paid-up equity shares of the company, Aarti Drugs said in a regulatory filing. The pharma stock has risen 432% in one year but lost 2.12% since the beginning of this year. The market cap of the firm rose to Rs 6,432 crore on BSE. The firm reported a 144.92% rise in Q3 net profit to Rs 68.04 crore against Rs 27.78 crore profit in the corresponding quarter of the previous fiscal. Read more

Sunpharma Q3 reults:Profit jumps to Rs 1,852 crore

Sunpharma Q3 reults:Profit jumps to Rs 1,852 crore
Friday, January 29, 2021
Shares of Sun Pharmaceutical Industries gained by 6 per cent to Rs 600, bouncing back 8 per cent from day’s low of Rs 554, after the company’s net profit more-than-doubled at Rs 1,852 crore in December quarter (Q3FY21) compared with Rs 913.52 crore in the same quarter last year. The profit figures were above market expectations as a CNBC-TV18 poll had estimated the profit at Rs 1,334 crore. Consolidated total revenue from operations increased 8% to ₹8,837 crore as against ₹8,155 crores a year ago. Revenue was better-than-expected too as a CNBC-TV18 poll had estimated it at Rs 8,367 crore. Other income for the quarter surged to Rs 314.95 crore compared with Rs 119.88 crore in the year-ago quarter. The company declared an interim dividend of ₹5.50 per share. The board of directors has fixed February 10, 2021, as the record date for the purpose. Read more

The stock of Orchid Pharma zoomed 567 per cent since its relisting

The stock of Orchid Pharma zoomed 567 per cent since its relisting
Wednesday, December 30, 2020
Currently, Orchid Pharma is trading under the T group on the BSE. In the T2T segment, each trade has to result in delivery and no intra-day netting of positions is allowed. According to the latest shareholding pattern data, the promoter Dhanuka Laboratories held a 98.04 percent stake in Orchid Pharma. The public shareholders held a mere 2 percent holding, of which, 1 percent stake is with the financial institutions and banks, while individual shareholders held a 0.55 percent stake in the company, the data shows. On March 31, 2020, the resolution plan under Corporate Insolvency Resolution Process (CIRP) has been implemented and the Board has been re-constituted with the members nominated by Dhanuka Laboratories, Haryana, India, the resolution applicant. Read more

Sun Pharma Q2 profit jumps 70 per cent, beats street estimates

Sun Pharma Q2 profit jumps 70 per cent, beats street estimates
Tuesday, November 3, 2020
Mumbai-based Drug producer Sun Pharmaceutical Industries reported a 70.4 per cent jump in net profit at Rs 1,812.79 crore for the quarter ended September driven by operating performance and tax credit. It had reported a net profit of Rs 1,064.09 crore in the same quarter a year ago. Analysts had projected the profit figure of Rs 1,194 crore. Revenue rose 5.3% to ₹8,550 crores compared to the year-ago period, according to a filing on Tuesday. Earnings before interest, tax, depreciation and amortization (EBITDA) climbed 22.5 per cent YoY to Rs 2,193.3 crore as compared to last year's Rs 1,789.7 crore. The company said there was an exceptional tax gain for the quarter due to creation of a deferred tax asset amounting to Rs 288.28 crore, arising out of a subsequent measurement attributable to restructuring of an acquired entity. Read more

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