This should reverse the US underperformance in FY15-20 with margins too moving up sharply
Sources said that the hospital chain is targeting large Domestic Mutual Funds, Sovereign Funds
Healthcare companies to post decent growth in revenues in Q3FY21
Sharp re-rating has turned the stock into the most expensive in the pharma space
Margin expansion to support profits, clean regulatory track record to help sustain growth journey
Cipla, Cadila Healthcare, Lupin, Sun Pharma and Aurobindo Pharma from the Nifty Pharma index were up in the range of 1 per cent to 2 per cent on the NSE
On Wednesday, Lupin announced in a BSE filing that its dispute with the sellers in the Gavis and Novel transaction has been resolved amicably to the satisfaction of all parties.
Margin gains in the September quarter too are expected to continue
Dishman Carbogen Amcis, Ipca Lab, SPARC, Caplin Point Laboratories, Dr. Lal PathLabs and Granules India from the S&P BSE Healthcare index were up in the range of 4 per cent to 5 per cent on the BSE
The market expects a strong bounce in earnings growth in FY22 with a growth of more than 30 per cent on a YoY basis.
On the other hand, PSU stocks and banks have been laggards - with ONGC, Indian Oil, IndusInd Bank, and Coal India delivering the worst returns.
Till Nifty Pharma holds above the 11,180 mark, the bullish bias will prevail, charts suggest.
Here are some key things to watch in India with respect to the upcoming US vote
Divestment of the US subsidiary is at good valuations and will help attain net cash positive status
Allocation to a thematic offering like the newly-launched healthcare index fund should, however, be limited
Even as overall pharma market was up 5% over the year-ago period, GSK's September sales were down 8%, the firm is banking on recovery led by top brands, new launches
The rating agency reaffirmed its 'CRISIL BBB' rating on long term bank facilities, while short term ratings has been reaffirmed at 'CRISIL A3+'
In the past month, Cipla and Lupin outperformed the market by gaining 12 per cent each, against 8 per cent rise in Nifty Pharma index
Global brokerage Macquarie Capital Securities, on October 6, initiated coverage on the stock with an 'Outperform' rating and a target price of Rs 2,064 in bull-case scenario
IT stocks were expected to re-rate and that is happening now.