Sun Pharma reports first-quarter loss as generics business suffers

Sun PharmaIndia’s largest drugmaker Sun Pharmaceutical Industries Ltd posted a surprise quarterly loss on Friday due to one-off legal costs and pressure over prices in its largest market, the United States, casting a shadow over its growth prospects.

Sun is the latest maker of generic drugs to report poor sales as uncertainty grows in the global market for copycat drugs due to rising competition and pricing scrutiny in the United States.

India’s drugs industry, the world’s fourth largest, has been hit particularly hard due also to challenges at home, where the government is tightening control over prices, and a nationwide tax reform has hit supplies.For Sun, recent pricing challenges have compounded problems: it had already been struggling to get clearance for its key factories that are under U.S. supply bans due to quality control failures.

The company, the world’s fifth-largest maker of generic drugs, said it expects profit margins to improve gradually to reach about 20 to 22 percent in the second half of this year from 17.1 percent in the June quarter.

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Share Market Updates – BSE Telecom index extends losses for the sixth session

Extending its losing-run for the sixth session, the BSE Telecom index was trading 0.20 % down at 1,390 around 11.27 am (IST) in Friday’s trade with shares of Vindhya Telelinks (down 1.83 %), Sterlite Technologies (down 3.04 %), Mahanagar Telephone Nigam (MTNL) (down 1.12%), Reliance Communications (down 0.94 %) and Bharti Airtel (down 0.56%) as the top losers in the index.

Reliance Communications saw some selling on reports that the National Company Law Tribunal is set to pronounce its decision on Monday on whether or not to consider the proposal of the merger between Reliance Communications’ wireless business and Aircel.

Stocks such as ITI (up 4.25 %), OnMobile Global (up 3.73 %), Himachal Futuristic Communications (up 2.97 %) and Tata Communications (up 2.95 %) were gaining in the index

Benchmark Nifty50 and Sensex remained low despite a fresh spell of buying emerged in pharma and banking stocks.

Nifty was trading 76 points lower at 9,743, while Sensex was 209 points down at 31,322 around 11.27 am (IST).

Axis Bank, State Bank of India and YES Bank, Lupin and Dr. Reddy’s Laboratories were trading in green in the Nifty chart, whereas Vedanta, hindalco, Hero MotoCorp and Reliance Industries were losing.

Shares of JP Associates, Suzlon Energy, Unitech, HCL Tech, HDIL, NCC, IFCI, Adani Power, South Indian Bank, Union Bank India, Tata Motors and IDFC Bank were among most traded securities on NSE.

In the Nifty50 pack, 14 stocks were trading in green, while 37 stocks were in red.

On BSE, 878 stocks were advancing whereas 1,379 stocks were lagging.

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Share Market :- Stock 20-20 News Update

stock2020_new_240 हम आपको उन 20 स्टॉक्स के बारे में जानकारी देंगे जिनमें आज ट्रेडिंग कर के आप कमा सकते हैं मुनाफा। भले ही वो शेयर चढ़े या लुढ़के आपको फायदा देकर ही जाएंगे। यानी 20 शेयरों में आज खरीदने या बेचने पर सलाह।


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विप्रो : खरीदें – 494.9, लक्ष्य – 504, स्टॉपलॉस – 490

अमारा राजा : खरीदें – 893.2, लक्ष्य – 910, स्टॉपलॉस – 885
सन फार्मा एडवांस्ड : खरीदें – 320.5, लक्ष्य – 328, स्टॉपलॉस – 318

सुबेक्स : खरीदें – 10.8, लक्ष्य – 11.5, स्टॉपलॉस – 10.5

इंटलेक्ट डिजाइन : खरीदें – 125.6, लक्ष्य – 129, स्टॉपलॉस – 124

युनाइटेड ब्रेवरीज : खरीदें – 771.3, लक्ष्य – 795, स्टॉपलॉस – 762

पीवाआर : बेचें – 1600.6, लक्ष्य – 1570, स्टॉपलॉस – 1615
बर्जर पेंट्स : बेचें – 257.7, लक्ष्य – 252, स्टॉपलॉस – 260

यूबी होल्डिंग्स : खरीदें – 26.8, लक्ष्य – 28, स्टॉपलॉस – 26.5

मैक्डॉवैल होल्डिंग : खरीदें – 36.9, लक्ष्य – 39, स्टॉपलॉस – 36.5

कर्नाटक बैंक : खरीदें, लक्ष्य – 175, स्टॉपलॉस – 165

ऑयल इंडिया : खरीदें – 329, लक्ष्य – 345, स्टॉपलॉस – 326

जेएम फाइनेंशियल : खरीदें – 117, लक्ष्य – 132, स्टॉपलॉस – 115

टीवीएस मोटर्स : खरीदें – 494, लक्ष्य – 515, स्टॉपलॉस – 490

एचडीआईएल : बेचें – 89, लक्ष्य – 83, स्टॉपलॉस – 91

डालमिया भारत : खरीदें – 2190, लक्ष्य – 2250, स्टॉपलॉस – 2180

मैरिको : खरीदें – 319, लक्ष्य – 335, स्टॉपलॉस – 31

एशियन ग्रेनिटो : खरीदें – 383, लक्ष्य – 400, स्टॉपलॉस – 380

एडीएफ फूड्स : खरीदें – 218, लक्ष्य – 233, स्टॉपलॉस – 215

आरबीएल बैंक : खरीदें – 585, लक्ष्य – 600, स्टॉपलॉस – 580

Stocks in News today – Maruti, Religare, Cairn India, Kotak Bank, L&T, Central Bnak, Sobha

Prakash Industries – Q4 production up 16.7 percent at 1.7 lakh tonne, sales up 19.5 percent at 1.69 lakh tonne (YoY)

– FY17 production up 13.4 percent at 6.15 lakh tonne, sales up 14.9 percent at 6.10 lakh tonne (YoY)

Religare to sell stake in Religare Health Insurance for Rs 1,040 cr

L&T – Appoints AM Naik as non-executive chairman for 3 years from October 1

– Appoints SN Subrahmanyan as CEO & MD from July 1

Kotak Mahindra Bank in focus – Kotak Infrastructure Debt Fund gets RBI approval for NBFC

Cairn India gets fresh demand notice of Rs 10,247 crore from tax department

Central Bank to consider entire IPDI capital of Rs 583 crore held by government to equity on April 12

NMDC total production up to March 31 at 34.03 MT, sales at 35.62 MT

Sobha promoter Sobha Menon sells 4.15 percent stake in company on April 7 via open market sale

Maruti Suzuki shifting to safer vehicles, plans to consolidate more models

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SBI to raise stake in SBI Card to 74% by June-end

State Bank of India (SBI) said it will increase its stake in SBI Card to 74 % by June end, reported PTI. “Stake will be increased by first quarter of next financial year.There are few regulatory issue that is being sorted out,” SBI chairperson Arundhati Bhattacharya said at the launch of SBI Card Unnati.

The board of SBI has already given approval for hike of the bank’s stake in its two credit card joint ventures with General Electric Company to 74 %. The bank has approval to infuse Rs 1,160 crore in the two JVs SBI Cards and Payment Services Pvt Ltd (SBICPSL) and GE Capital Business Processes Management Services Ltd (GECBPMSL)– through purchase of equity shares from GE Capital so as to increase the bank’s stake in both the companies to 74 %. Asked about remaining 26 % stake, she said, the decision has to be taken by GE. “Within next one month there should be finality on the remaining stake sale,” it said. The American company seeks to exit SBI Cards. SBI currently holds 60 % stake in SBICPSL and 40 % in GECBPMSL.
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Market Magnify Turmeric News Update

Turmeric on NCDEX settled up by 0.5% at 6384 on short covering after prices dropped on expectations of higher output and increasing supplies of new crop. The demand for the new season turmeric in recent weeks is lower from the up country traders. The turmeric arrivals in the country slow down last week (20-25 Mar) to 21,220 tonnes compared to 621,061 tonnes during previous week, as per the data. On the export front, country exported about 82,115 tonnes during April-Dec period; up by 28% compared to last year exports of 64,105 tonnes, as per government data.

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                          Trading Ideas

*Turmeric trading range for the day is 6244-6520.

*Turmeric prices gained on short covering after prices dropped on expectations of higher output and increasing supplies of new crop.

*urmeric output is expected to be bumper as not only the acreage was higher but weather remained favourable.

*NCDEX accredited warehouses turmeric stocks gained by 249 tonnes to 1657 tonnes.

*In Nizamabad, a major spot market in AP, the price ended at 6173.1 Rupees dropped -6.9 Rupees.


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