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PI Industries shares nosedive 9% as Q2 results disappoint Street
PI Industries Share Price: PI Industries shares dropped 9% despite a 6% YoY rise in Q2 profit, driven by biological growth and improved gross margins. However, domestic revenue saw a decline.
Suven Pharma Q2 Results: Net profit rises 3% to Rs 82 crore
PE firm Advent backed Suven Pharma net profit rose 3% year-on-year (YoY) to Rs 82 crore in Q2FY25 compared to Rs 79.6 crore in the corresponding period of the previous year.
US-based AptarGroup breaks ground for new pharma plant in Taloja, near Mumbai
AptarGroup held a groundbreaking ceremony for a new pharmaceutical plant in Taloja, India. The facility expands AptarGroup's presence in the region. The plant will produce pressurized metered dose inhaler valves, breath-actuated devices, and single-dose nasal sprays. The company is exploring acquisitions to expand its drug delivery offerings.
Dipan Mehta sees long-term potential in Varun Beverages despite high valuations
See, when it comes to FMCG, look at Britannia, from 2010 to 2020, what went right was expanding the distribution network and what is going right for Varun Beverages just now also is expanding the distribution network.
Expect sectoral rotation, money to flow into IT, bank stocks: Rajat Sharma
Indian stock market expert predicts shifts in investments. Sharma sees potential in banking, technology, and pharma sectors. He suggests investors watch for movement in stocks like HDFC Bank, Axis Bank, Infosys, and Mphasis. Sharma also advises keeping an eye on pharma companies like Laurus Lab and ITC as ITC Hotels prepares to list separately.
Dr Reddy's Labs, Mankind Pharma riding on strong growth drivers
Indian pharmaceutical giants, Dr. Reddy's Labs and Mankind Pharma, reported impressive double-digit revenue growth in the September quarter. Dr. Reddy's achieved this milestone despite challenges in Europe and increased expenses, while Mankind Pharma thrived on robust domestic sales and expansion into consumer healthcare. Both companies remain optimistic about future prospects.
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Mankind Pharma shares gain over 6% as profit jumps nearly 30% in Q2
Mankind Pharma's shares surged by 6% after reporting a 29% rise in Q2 profits, reaching ₹658.88 crore. The company attributed this growth to sales volume recovery, particularly in the chronic segment and domestic sales. Exports also saw a significant 57% increase. Motilal Oswal raised its target price on the stock, citing the company's strong growth prospects.
Largecaps in these 5 sectors are good places to invest in Samvat 2081: Rajesh Bhatia
CIO Rajesh Bhatia of ITI MF sees largecap valuations as reasonable, favoring private banks for their solid business models and predictability. He anticipates growth in financial year 2027, with telecom, insurance, capital goods, and domestic pharma also being attractive in largecaps. Despite market corrections, Bhatia remains bullish on India's GDP growth and capex-driven opportunities.
Bullish on pharma, especially CDMO; slightly negative on auto: Daljeet Kohli
Daljeet Kohli of Roha Asset Managers LLP is bullish on the pharma sector, anticipating strong performance over the next one-two years. He mentions the Biosecure Act of the US and the potential growth for companies involved in CDMO, CMO, and CRMO. Kohli expresses caution towards the auto sector, noting that its recent rally may be slowing down.
Sandip Sabharwal on defence and railway plays which are still worth a bet
So, just hold on because the tailwinds for the sector seem to be there in the near term. Hold on to what we have unless and until we get better prices.
Oyo registers Rs 158 crore net profit in July-Sept quarter
The hospitality company had made a loss of Rs 50 crore in the same period last year. Its emphasis on premiumisation through the launch of company-serviced hotels under its Townhouse banner, and other hotel brands, helped the Gurugram-based company add to Q1 profit of Rs 132 crore.
Mankind Pharma completes Rs 13,768 cr BSV acquisition
Mankind Pharma has completed the acquisition of Bharat Serums and Vaccines Ltd for Rs 13,768 crore. This acquisition strengthens Mankind Pharma's position in the Indian women's health and fertility drug market. The transaction aligns with Mankind's strategy to access high entry barrier products and complex R&D platforms, promising accelerated growth and expanded market access.
Lupin subsidiary acquires 9 brands South African firm
Lupin's subsidiary, in partnership with ImpiloVest, has acquired nine brands from MNI in South Africa, enhancing its portfolio in complementary and alternative medicines. The acquired brands address various health issues, aligning with Lupin's commitment to holistic and sustainable healthcare solutions.
CCI clears Rs 13,630 cr Mankind Pharma acquisition of Bharat Serums
The Competition Commission of India (CCI) has approved Mankind Pharma's ₹13,630-crore acquisition of Bharat Serums and Vaccines. This acquisition will strengthen Mankind's position in the Indian women's health and fertility drug market. Mankind Pharma and Bharat Serums both specialize in pharmaceutical formulations and healthcare products.
Aurobindo to acquire 49% stake in GLS Pharma for Rs 22.5 crore
Aurobindo Pharma Ltd on Wednesday said it will acquire the balance 49 per cent stake in GLS Pharma Ltd for Rs 22.5 crore to make the latter a wholly-owned subsidiary.
Mankind: How Meerut brothers built India's 4th largest pharma firm
Mankind Pharma has announced a significant move by acquiring Bharat Serums and Vaccines Ltd for Rs 13,630 crore. The acquisition, partly funded by debt, aims to strengthen Mankind’s portfolio. The Juneja brothers are confident in their strategy despite market concerns about integration and cost.
Mankind can clear debt taken for BSV buy in 3 years: MD Rajeev Juneja
Mankind Pharma aims to clear its ₹13,630-crore debt from acquiring Bharat Serums and Vaccines within three years, according to MD Rajeev Juneja. He was optimistic about using Mankind's reach and marketing skills to expand BSV's range. The successful integration of Panacea in 2022, despite initial doubts, was cited as a positive precedent.
Torrent Pharma is said to seek raising $3 billion for KKR’s stake in JB Chemicals
Torrent Pharmaceuticals Ltd. is planning to raise up to $3 billion from global banks to acquire a controlling stake in JB Chemicals & Pharmaceuticals Ltd. This move involves the purchase of KKR & Co.'s 53.8% stake in JB Chemicals.
Market not much enthused by Mankind's BSV buy
After initially cheering the deal, the stock market gave its thumbs-down to Mankind acquiring BSV at the premium valuations of eight times its FY24 revenues and 23 times its estimated ebitda of FY25. The Mankind stock opened 4.5% higher on Friday but closed 3.6% lower. Worries over funding of expensive deal and taking of debt for a debt-free company dragged down the positive sentiment.
Mankind Pharma has appointed Barclays and Deutsche Bank to arrange financing for its Rs 13,630 crore acquisition of Bharat Serums & Vaccines. The deal will be partly funded through Rs 4,000 crore in internal accruals and the rest via debt. Mankind’s board approved raising ₹7,500 crore in equity and increasing the borrowing limit to ₹12,500 crore.
Mankind to use debt, internal accruals to fund BSV buyout
Mankind Pharma announced a ₹13,630 crore acquisition of Bharat Serums and Vaccines (BSV) to be funded through internal accruals and a mix of debt and equity. This strategic move will make them leaders in the gynaecology-fertility segment. The acquisition aligns with their goal to expand in high-potential areas and is expected to boost earnings from the second year.
Mankind Pharma shares fall 2.5% after BSV acquisition
Mankind Pharma Share Price: Mankind Pharma shares dropped by 2.5% following the announcement of a Rs 13,630 crore acquisition of Bharat Serums and Vaccines (BSV). The acquisition aims to strengthen Mankind's position in women's health and fertility drugs. BSV reported strong revenue growth in FY24, with a notable presence in IVF and critical care segments.
Zensar Technologies to buy US firm BridgeView Life Sciences
Pune-based Zensar Technologies said in a statement, “This strategic move strengthens Zensar's Healthcare and Life Sciences (HLS) vertical and expands its pharma commercial and product launch expertise." The company is part of the $4.8 billion conglomerate RPG Group, has a total services revenue at $591.3 million as on FY24 with the US contributing to 67.2% of the revenue share.
Pharma sector: Turnaround for good, 6 small and mid cap pharma stocks with upside potential of up to 32%
While it might not have been making it headline, the pharmaceutical sector or commonly called as pharma has come through a tough period due to US FDA and other factors. It has been witnessing a turnaround of sorts which has been slow but more companies are showing improvement in their performance. Also there is a process of re-rating which is quietly going on in the sector. It was large players which got the attention of tend to gain first and then it is smaller and mid sized. If one looks at the corporate announcement about approval of drugs by the US FDA or other drug regulator or any entry into new markets, a number of them are coming from mid and small companies. Given the lesson which the Indian pharma industry has learnt after its reckless approach between 2005 to 2015, there is a high probability that the sector may gain attention.
Kotak Alternate Asset Managers invests Rs 1,445 cr to help Matrix Pharma execute acquisition
Kotak Alternate Asset Managers Ltd invested Rs 1,445 crore in Matrix Pharma for acquiring Vaitris' API business, making Matrix the 2nd largest Indian API player with global leadership in ARV APIs.
Mankind Pharma, the fourth-largest pharmaceutical company in India, led by Rajeev Juneja, is seeking mergers, acquisitions, and in-licensing deals to enhance its branded formulation business.
ChrysCapital sets sights on pharma buyout deals
ChrysCapital, led by MD Kshitij Sheth, aims to acquire Indian companies in the formulation business with potential valuations of $200 million-$500 million, focusing on growth and eventual public listings.
Sun Pharma, India's leading pharmaceutical company, plans to pursue licensing and acquisitions as part of its strategy to grow its specialty business, according to a senior executive of the company. The executive noted that in recent years, Sun Pharma has been actively working on building a portfolio of products internally. Moving forward, the company intends to adopt a dual approach, combining both mergers and acquisitions with in-house product development.
Torrent Pharma board approves to raise Rs 5,000 crore
Torrent Pharmaceuticals, actively seeking to expand through acquisitions, has expressed interest in purchasing Mumbai-based pharmaceutical company JB Pharma, according to a report by ET on Friday.
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