Stock markets in India are presently trading lower ahead of Reserve Bank of India's (RBI) bi-monthly monetary policy. Among the sectoral indices, PSU stocks and metal stocks are witnessing maximum selling pressure. While capital goods stocks and FMCG stocks are trading in green.

The BSE Sensex is trading lower by 223 points and the NSE Nifty is trading lower by 77 points. Meanwhile, the BSE Mid Cap index and the BSE Small Cap index both are trading down by 1%. The rupee is trading at 70.48 to the US$.

Automobile stocks opened the day on a mixed note with Mah. Scooters & TVS Motors leading the pack of gainers. Maruti Suzuki share price is trading down by 1.3% after it reported 12.6% fall in its production to 135,946 vehicles in November 2018. It had reported 155,568 vehicles in November 2017.

Of the total, the company manufactured 30,147 vehicles under mini segment in November 2018, as against 39,115 units manufactured in corresponding month the previous year.

The company manufactured 65,736 vehicles under Compact segment; 1,460 vehicles under Midsize; 23,038 units under Utility Vehicles segment and 13,768 units under Vans category.

The company has also produced 1,797 vehicles under Light Commercial Vehicles (CV) segment (including super carry) in November 2018, as against 1,565 units produced in corresponding month the previous year.

Speaking of blue-chip automobile stocks, one out of every three households in India is a buyer of their products. They own some of the cult brands in Indian automobile space.

Bluechip Auto Are Stocks Way Off Their Valuation Peaks

They have formidable R&D teams. They have been through several economic cycles over decades. Few have even visited near-bankruptcy in the past and come out successful.

Yet, some of the biggest passenger car, commercial vehicle, and two-wheeler companies in India have seen a huge dent in valuations in recent times.

Moving on to the news from the pharma sector. As per an article in a leading financial daily, Alembic Pharmaceuticals received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Candesartan Cilexetil tablets USP, 4 mg, 8 mg, and 16 mg.

The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Atacand Tablets, 4 mg, 8 mg, and 16 mg, of ANI Pharmaceuticals, Inc.

These tablets are indicated for the treatment of hypertension in adults and in children to lower blood pressure. They are also indicated for the treatment of heart failure.

Candesartan Cilexetil Tablets have an estimated market size of US$22 million for twelve months ending December 2017 according to IQVIA.

The company has a cumulative total of 82 ANDA approvals (69 final approvals and 13 tentative approvals) from USFDA.

To know more about the company, you can access to Alembic Pharma's Q2FY19 result analysis and Alembic Pharma's Stock Analysis on our website.

At the time of writing, Alembic Pharma share price was trading up by 1.8%.