The decline in pharma stocks followed comments from President Donald Trump, who indicated that the US may impose tariffs of around 25 per cent on pharmaceutical, automobile, and semiconductor imports
Stocks such as Natco, Dr. Reddy's, Cipla, Mankind, Torrent, Sun Pharma, Abbott, and Glenmark slipped in the range of 1-2 per cent
Divi's Laboratories share price surged 5.36 per cent at Rs 6,205 per share on the BSE in the intraday trade of Tuesday. This came after the pharma company delivered robust third quarter results
Drug firm Divi's Laboratories on Monday said its profit after tax (PAT) increased 65 per cent to Rs 589 crore for the December quarter, on the back of robust sales across markets. The company had reported a profit after tax (PAT) of Rs 358 crore for the October-December quarter of last fiscal. Revenue from operations rose to Rs 2,319 crore in the third quarter as against Rs 1,855 crore in the year-ago period, Divi's Laboratories said in a regulatory filing. The drug firm noted a part of the Kakinada Project (Unit-III) commenced commercial operations from January 1, 2025. The rest of Kakinada project is being implemented and is expected to be operational in about six months, it added. "We have capitalised assets of Rs 433 crore for the quarter and of Rs 557 crore for the nine-month period of the current fiscal year. Of this, capitalisation for Kakinada Project is Rs 418 crore during the 9-month period," the drug firm stated. The company said its board has approved the re-appointme
Divi's Laboratories share price slipped 4.60 per cent at Rs 5,881.15 a piece on the BSE in Monday's intraday trade after the pharmaceutical company's consolidated net profit for the third quarter
Its revenue from operations climbed 25 per cent to Rs 2,319 crore during the quarter, roughly in line with analysts' estimate of Rs 2,343 crore
Thus far in the calendar year 2024 (CY24), the market price of Neuland Laboratories has zoomed 216%, Piramal Pharma (88%), Divi's Labs (53%) and Jubilant Pharmova (52%)
The filing further said that the financials of the company won't be impacted and the penalty will be paid within the prescribed timeline
Shares of Divis's Laboratories scaled up to 3.4 per cent at Rs 6145.60 per share on the BSE after beating street estimates in its second quarter earnings for the financial year 2024-25 (Q2FY25)
Brokerages expect Divis Labs to report a robust quarter on a year-on-year basis and sequentially
The PCR (Put Call Ratio) of these 3 stocks is above 1, implying presence of higher open positions in Puts as against Calls, shows the NSE options data.
Divi's Labs share: In the last four days, Divi's Lab share price has surged 13 per cent after global brokerage firm Citi initiated coverage on Divi's Laboratories with a 'Buy' rating
Among existing gainers, Divi's Lab and Shriram Finance seem poised for further gains, whereas losers IndusInd Bank and Nestle too look promising on technical charts; check key levels.
Derivatives market update for Sept 11: Bank Nifty weekly options PCR stands at 0.9:1; key trigger point at 51,550. Premium in Bank Nifty futures down to 99 pts from 255 pts in just 3 trading sessions.