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The article highlights the remarkable performance of stocks that crossed their 200-day Simple Moving Average (SMA) on July 27, 2023. Godfrey Phillips India and Granules India take the lead, alongside other prominent companies like Ipca Laboratories and United Breweries, showcasing positive market sentiment and growth potential.
HDFC mutual fund's prominent reductions last month included Hindustan Aeronautics, Tata Motors and Indian Hotels among others. On the other hand, it lapped up shares of ICICI Bank and HPCL along with Ipca Labs and few others
Indian drugmakers outperformed multinational pharma players in the Indian Pharma Market in May, a trend that has been going on since the past 12 months.
Shares of Indian pharmaceutical company, Ipca Laboratories, fell by 3% after the US Food and Drug Administration (USFDA) issued a Form 483 report, citing 11 observations of its API manufacturing facility situated in Ratlam. Form 483 is issued when an inspector has found conditions that could violate FDA regulations. Ipca said it takes quality and compliance issues seriously and will submit a response in the prescribed time. Trendlyne data showed that the stock's day RSI (14) is at 57.8, while the MACD is above its center and signal line, which is a bullish indicator.
Not just pharma companies, JM Financial also sees a bright future for diagnostics as well as hospital players in FY24