Indian Indices Recover; Healthcare & IT Stocks Witness Buying

Share markets in India have trimmed their early losses and are presently trading marginally lower. Sectoral indices are trading mixed with stocks in the healthcare sector and IT sector witnessing maximum buying interest while oil & gas stocks and realty stocks are witnessing selling pressure.

The BSE Sensex is trading down by 41 points (down 0.1%), while the NSE Nifty is trading on a flat note. The BSE Mid Cap index is trading up by 1.1% and the BSE Small Cap index is trading up by 0.6%.

The rupee is trading at Rs 71.88 against the US$.

In the news from the pharma spaceStrides pharma science is witnessing buying interest today as the company's joint venture firm has received approval from the US health regulator for Albendazole tablets, used in the treatment of certain infections caused by tapeworm.

Strides Vivimed Pte Ltd, Singapore, a 50-50 joint venture with Vivimed Labs, has received approval from the United States Food & Drug Administration (USFDA) for Albendazole tablets in the strength of 200 mg.

Strides Pharma Science is presently trading up by 5.4%.

To know more about the company, you can read Strides Pharma Q2FY19 result analysis and Strides Pharma annual report on our website.

In another news, Lupin is also in focus today as the company has received tentative approval for its Apixaban tablets, 2.5 mg and 5 mg from the United States Food and Drug Administration (USFDA) to market a generic version of Bristol-Myers Squibb Company's Eliquis Tablets, 2.5 mg, and 5 mg.

Speaking of pharma sector, note that the BSE Healthcare Index has been on a roller coaster ride in the past few years. The period from 2012 to 2015 saw the index go up more than three times.

We believe that pharma companies that invest in creating a pipeline of complex generics or building competencies in alternative dosage forms are better equipped to tackle the changing dynamics in the US generics market as well as in the overall industry.

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Disclosure: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. ...

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