“We believe that Ciplas Pithampur facility was inspected in February and post that, they got an OAI in August and post that, it has escalated to a warning letter. We believe that it is unlikely that this will escalate further to import alerts, though this may take some time to resolve.”

​​Stocks such as Axis Bank, SBI, Tata Motors, Sun Pharma, Canara Bank, PFC, DLF, Godrej Properties, PI Industries, Aurobindo Pharma, and Dr Lal Path Labs have exhibited bullish trend on the charts, as per the analysts.

Among the Sensex stocks, Sun Pharma, Tech Mahindra, Bharti Airtel, HDFC Bank, and Reliance Industries opened with cuts, while M&M, L&T, Titan, and Tata Steel opened with gains.

“Pharma sector can be a very good proxy to a weak rupee. Rather than IT, be in pharma to play a weak rupee. That has been a splendid outperforming sector. Cipla, Sun Pharma, Aurobindo are just coming of age and I still continue to think Lupin can be a huge outperformer.”

Prabhudas Lilladher is bullish on Sun Pharmaceutical Industries has recommended buy rating on the stock with a target price of Rs 1280 in its research report dated November 02, 2023.

Zydus launched the drug under the brand names Lipaglyn and Bilypsa and will continue to market them. Lupin will pay Zydus upfront licensing fees and milestone payments based on the achievement of pre-defined milestones. With a once-daily, 4mg dose regimen, Saroglitazar Mg enables better compliance, reduces pill burden, and offers greater convenience for patients.

Sharvil Patel, managing director of Zydus Lifesciences said, half of the research and development (R&D) allocation is geared towards developing new chemical entities (NCEs), biologics and differentiated products. On average, Zydus spends about 8% of its revenue on R&D, which is higher than the industry average of 6%.

Sun Pharmaceutical Industries Ltd., incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 268329.63 Crore) operating in Pharmaceuticals sector.

The healthy earnings growth for Sun Pharma was aided by strong global specialty sales and an industry-beating performance in the domestic market even as US sales faltered sequentially.

The earnings for interest, tax, depreciation and ammortisation (EBITDA) rose 7.5% to Rs. 3179.4 crore in Q2, and EBITDA margins declined 90 basis points YoY to 26.1%. India formulation sales rose 11.1% YoY to Rs. 3843 crore in Q2FY24. India accounts for 32% of Sun Pharma sales