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Indian drugmakers, which have the U.S. market as a key segment, will sustain their revenue improvement in fiscal 2025 due to drug shortages in the United States, Mumbai-based India Ratings and...
From the Sensex pack, IndusInd Bank, Axis Bank, Bajaj Finance, HDFC Bank, and Tata Steel were among the gainers while Wipro, Sun Pharma, M&M, NTPC, and ITC were among the losers.
Sensex, Nifty closed marginally lower. Uncertainty over the results of the ongoing general elections put volatility at a high with VIX surging almost 90% in the last one month, including climbing 6.8% on the day. The broader NSE Nifty dropped 25 points or 0.11% to end at 22,932. Wipro, NTPC, Sun Pharma, M&M, ITC, and Reliance Industries were the top Sensex laggards, falling up to 2.3%.
Indian drugmakers, such as Dr Reddy's, Cipla, and Sun Pharma, are projected to maintain revenue growth in fiscal 2025, driven by drug shortages in the U.S. market. With 233 drugs in short supply, Indian companies are poised to benefit from the challenges faced by U.S.-based generic pharma manufacturers, leading to improved financial performance and increased market share in therapeutic categories.
Foreign Institutional Investors offloaded equities worth Rs 944.83 crore on Friday, according to exchange data. Sensex scaled the 76,000 level for the first...