However, the API sale process, which was launched a couple of months ago, has seen no serious buyers, added multiple people aware of the development. The company has been seeking a valuation of $600-700 million (₹5,000 crore) for the API business and hired Jefferies to run the sale process.
Cyndrella Carvalho on 6 pharma stocks to bet on now
Valuations in the listed API space have experienced huge price corrections, making them appear attractive, according to Cyndrella Carvalho, Vice President - Healthcare/Pharma Lead, Institutional Research, JM Financial. However, Carvalho added that one or two more quarters are needed for supplies to normalize in the API market to give a clearer understanding of the supply-demand scenario.
F&O Ban: IB Housing Finance, HAL under ban for trade on Monday; Biocon exits
"The Nifty witnessed an extremely volatile day of trade on Friday. It was consolidating in a narrow range during the first half of the session. However, as the day progressed and especially during the last couple hours of the trading session the Nifty witnessed intense selling pressure which dragged the Nifty lower to close with a cut of 132 points," Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas said.
Kotak retains 'reduce' rating on Biocon; lowers target price
Brokerage firm Kotak Institutional Equities has retained a "reduce" rating on Biocon Ltd (BIOS) and lowered its target price to Rs 210 from Rs 240 earlier.
F&O Ban: Biocon, IB Housing Finance, HAL under ban for trade on Friday
The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.
Kiran Mazumdar-Shaw to retire from Infosys board; D Sundaram appointed lead Independent Director
Joshi also led the Finacle banking platform business and AI automation portfolio for Infosys. He was also responsible for the companys internal Chief Investment Officer (CIO) function and Infosys Knowledge Institute and held executive responsibility for large deals across the company.
F&O Ban: Biocon, IB Housing Finance under ban for trade on Thursday
"The daily momentum indicator triggered a fresh positive crossover on Wednesday, which is a buy signal. Also, we believe that the pullback is not yet complete and we expect it to continue over the next few trading sessions," Gedia said.
SGX Nifty down 50 points; here's what changed for market while you were sleeping
Asian stocks struggled Thursday in the wake of a slump on Wall Street after Treasury Secretary Janet Yellen rattled bank shares and the Federal Reserve pushed back against bets for interest rate cuts this year. Benchmark indexes fell in Japan, South Korea and Australia while a gauge of US-listed Chinese companies fell earlier.
F&O Ban: Biocon, IB Housing Finance under ban for trade on Wednesday
"We expect the positive momentum to continue over the next few trading sessions. On the hourly charts we can observe positive divergence along with a positive crossover on the momentum indicator which indicates loss of momentum on the downside and shall provide speed to the current pullback," Gedia said.
Big Movers on D-St: What should investors do with Biocon, Sterling & Wilson and UTI AMC?
The Relative Strength Index (RSI) is also trading above the 60 mark which is a bullish sign. Volumes are on the rise suggesting that this rally has legs to move up in the short to medium term.
SGX Nifty trades flat; here's what changed for market while you were sleeping
"We advise investors to remain cautious, as markets are likely to remain volatile ahead of the Fed's meeting outcome on Wednesday late evening. US Feds commentary amidst the ongoing financial crisis would be of key importance and can provide some direction to the markets," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.
F&O Ban: Biocon, IB Housing Finance under ban for trade on Tuesday; GNFC exits
“It closed on a negative note though well off the intraday lows indicating buying interest at lower levels. On the hourly charts, we can observe that the momentum indicator has triggered a positive crossover which is a buy signal. Thus, we expect the Nifty to continue with the positive momentum which has started during the second half of Mondays trading session for the next trading session as well,” Gedia said.
SGX Nifty up 50 points; here's what changed for markets while you were sleeping
"The market is now awaiting the outcome of the Fed meeting to see how they will respond to the ongoing crisis, particularly in terms of rate hikes. Investors expect the central bank to raise interest rates by 0–25 basis points," said Vinod Nair, Head of Research at Geojit Financial Services.
Hot Stocks: Brokerage firms on Godrej Consumer, DLF, Zydus Life and Biocon
The stock traded off recently, making short-term valuations much more compelling. The stock has corrected by over 28% on a year-to-date basis compared to the 2.8% fall seen in the S&P BSE Sensex.
Pharma stocks continue to underperform in 2023. Should investors take the bitter pill?
The Nifty Pharma Index fell about 6% so far this year on a year-to-date basis. The price pressure in US generic market is seen as a key drag for the sector
Will HAL make the cut for MSCI index inclusion in the May review?
Hindustan Aeronautics has an order book position of Rs 84,000 crore and another Rs 50,000 crore worth of orders are in the pipeline. The PSU company, one of the largest aerospace and defence manufacturers in the world, designs and manufactures aircraft, helicopters, power plants, inertial navigation system and other key equipment.
Bank of Baroda, Biocon among 13 stocks in focus ahead of MSCI rebalancing
According to Nuvama, Adani Enterprises may see outflows worth $102 million while HCL Tech, Jindal Steel, Shriram Finance will see outflows of $95 million, $19 million and $15 million respectively. On the other hand, weight reduction in ACC will lead to outflows worth $11 million
‘India’s flagship indices broadly flattish over last 1 yr’ — Statement conceals more than it reveals
Over a fourth of BSE500 companies have fallen more than 30% in the past year and half of the index constituents are down over 30% from their 2-year highs
Kotak Special Situations Fund invests Rs 1070 crore in Biocon
Eshwar Karra, CEO – Kotak Special Situations Fund at Kotak Investment Advisors said, We are delighted to partner with Biocon and this acquisition financing supports Biocons journey of becoming a world leading, fully integrated biosimilars enterprise.
The stocks included in the large-cap index are ACC, Kotak Mahindra Bank, Canara Bank, IDBI Bank, YES Bank, Union Bank, Indian Hotels, Jindal Steel & Power, Shriram Finance, Trent, and Tube Investments. One97 Communications, Biocon, Godrej Properties, Jubilant FoodWorks, Piramal Enterprises, and Sona BLW are the six stocks excluded from the large-cap index.
Given the multiple near-term levers, enviable biosimilars pipeline, strengthening of leadership teams, favourable valuation and marquee investors backing, JM strongly believes the company is well poised to turn the tide in its favour.
Biocon reports a consolidated net loss of Rs 42 crore in Q3. Here’s what analysts say
A one-time loss of Rs 271 crore during the quarter, mainly owing to professional fees paid for the acquisition of the global biosimilars business of American company Viatris, triggered the loss
Given the multiple near-term levers, enviable biosimilars pipeline, strengthening of leadership teams, favourable valuation and marquee investors backing, JM strongly believes the company is well poised to turn the tide in its favour.
Hot Stocks: Brokerages view on steel stocks, Apollo Hospitals, PB Fintech, Biocon and others
JP Morgan on Tata Steel and SAIL said, "Investor sentiment remains bearish on metals, lacking a meaningful demand recovery in China. Either steel prices need a rally or coking coal prices need to fall. Indian steel mills are well positioned".
Kiran Mazumdar Shaw on Viatris acquisition, R&D spend & Q3 result
“The highest R&D spends will always happen in biologics because the highest cost of R&D spend is in clinical trials. As we move forward, there are indications that we can shrink the clinical trials to smaller and smaller cohorts as the regulatory agencies and the markets become more mature in terms of biosimilars. We expect the R&D spends to reduce from current levels.”
Biocon reports Rs 42 crore net loss in Q3 due to exceptional item
The biggest contribution came from the biosimilars business, which reported a 54% increase in revenues to Rs 1,507 crore. Research Services revenues (Syngene) rose 23% YoY to Rs 786 crore and generics business revenues grew 18% YoY to Rs 718 crore.
Biocon Q3 Results: Firm posts Rs 42 cr loss on one-time exceptional item
The profit was also impacted due to dilution of Biocons stake in Biocon Biologics and Syngene. Net profit for the quarter, excluding an exceptional item, stood at Rs 140 crore
MSCI has marginally increased the weights of Reliance Industries, HDFC, Infosys, ICICI Bank, and TCS. The other stocks where outflows could be seen due to a reduction in weightage include HCL Technologies ($97 million), Jindal Steel & Power ($19 million), Shriram Finance ($14 million), and ACC ($12 million), according to Nuvama.