Aurobindo Pharma, part of the pharma space, has rallied more than 100% in FY24 but found some resistance above Rs 1,100 levels in January 2024. The stock underwent price wise correction since January 2024 and is now showing signs of bottoming out which suggests that bulls are ready to take the charge again. Short-term traders … Read more
After the IT sector it was the pharmaceutical sector which came into limelight as another big exporter from India. The valuations exploded and for a decade, pharma stocks were big wealth creators and also strong out performers. However, post 2014, both in terms of bottomline and stock price performance, pharma stocks had been under pressure. … Read more
Trideep Bhattacharya, CIO, Edelweiss MF, says: “It will probably take the next year for that improvement to come through. But the valuations over the next one or two quarters would be such that they may be good to add. On net balance, we were underweight on IT by about 300 bps at the end of … Read more
Abhishek Basumallick, Chief Investment Adviser, Intelsense Capital, says “the problem with IT, especially IT services, is that until and unless there is very clear visibility of growth in the US market, the buyers or the clients do not tend to go and start giving new projects. They have always been cautious in giving out new … Read more
” I think there is a longer-term challenge to the business. Near-term, of course, the deal gains have been fairly robust. So this year is going to be definitely a challenging year for the IT sector. I think the market has already realized that and has traded it down. What we are looking now is … Read more
“Several infrastructure stocks where order books are almost 3x last year’s sales, and there are some of them which are even 3.5, 3.7 times their last year’s sale so there were good order books plus execution picks up in the second half of the year. So this quarter and the next quarter can be very … Read more
, part of the pharma sector, gave a breakout from an inverse head & shoulder pattern on the weekly charts which suggests the beginning of a new trend that could take the stock above Rs 400-440 in the coming 3-4 months. Short-term traders who missed the rally seen in the last three months can look … Read more
Lupin, part of the pharma industry, is down more than 30 per cent from its September 2021 highs and a breakdown from the consolidation pattern in August further strengthens the bearish argument. Short-term traders can look to sell the stock for a possible target of Rs 620. Any rally towards Rs 667-680 can also be … Read more
New Delhi: Domestic equity market ended another week in the negative zone as Nifty 50 dropped over a per cent, whereas Nifty Bank underperformed its larger peer with more weakness. Market experts suggested that red hot US inflation data led to another round of aggressive rate hikes and muted corporate earnings from India Inc in … Read more
The US economy also witnessed substantial issues in its pharma market. In addition to these, manufacturing & exporting countries around the world saw heightened raw material price inflation followed by supply chain disruption. All these affected the margins of the companies deeply. Synopsis Indian pharmaceutical market flattened after the pandemic led to a massive upsurge … Read more