Share markets in India are presently trading on a negative note. Sectoral indices are trading mixed with stocks in the IT sector witnessing buying interest while realty stocks, metal stocks and auto stocks are witnessing maximum selling pressure.

The BSE Sensex is trading down by 90 points (down 0.3%), while the NSE Nifty is trading down by 32 points (down 0.3%). The BSE Mid Cap index is trading down by 0.3% and the BSE Small Cap index is trading down by 0.7%.

The rupee is trading at Rs 70.16 against the US$.

In the last few sessions, the rupee has been strengthening against the US$. Last week, dollar came under pressure after the Federal Reserve in its policy statement mentioned that rate hike in the coming year could be restricted to two compared to earlier estimates of three rate hikes next year.

In the news from the IT sector, Infosys share price is witnessing buying interest today on reports that the IT major may soon consider a share buyback worth Rs 112 billion.

Reports state that some of the founding family members could also tender shares in the buyback. The share buyback could happen at around 20-25% premium to the current market price, according to news reports.

The IT major is coming off a one-year temporary prohibition for the share buyback that ends in December. Reportedly, the buyback announcement could be a part of the board resolution that meets on January 11 to consider the audited quarterly financial results.

As per an article in The Economic Times, the buyback could be executed faster this time.

Here's an excerpt from the article:

The company's successive buyback, subject to shareholder approval, could be executed much faster this time around as Infosys has voluntarily delisted its American depositary shares from the Euronext Paris and Euronext London exchanges in March.

Infosys share price is presently trading up by 1.3%.

To know more about the company, you can read Infosys Q2FY19 result analysis and Infosys Annual report on our website.

Moving on to the news from the pharma space, Dr. Reddy's Lab share price is in focus today as the company announced the launch of anti-coagulant drug Aspirin and extended-release dipyridamole capsules in the US market.

The product is a therapeutic equivalent to generic version of Aggrenox (aspirin and extended-release dipyridamole) capsules. Dr Reddy's Aspirin and extended-release Dipyridamole capsules is available in 25 mg/200 mg strength with 60 count bottle size. Aggrenox is a trademark of Boehringer Ingelheim.

In another news Strides Pharma share price is also in focus today as the company's subsidiary has received approval from the US health regulator to market laxative Polyethylene Glycol 3350 and Electrolytes for Oral Solution.

Reportedly, Strides Pharma Global, Singapore, has received approval for Polyethylene Glycol 3350 and Electrolytes for Oral Solution USP in the strengths of 236 grams/2.97 grams/6.74 grams/5.86 grams/22.74 grams/4 Liter from the United States Food and Drug Administration (USFDA).

Earlier this month, the company's subsidiary had received approval from the United States Food & Drug Administration (USFDA) for Lidocaine Ointment USP 5%.

Lidocaine Ointment contains a local anesthetic agent which is administered topically to numb and relieve pain from minor burns, skin abrasions, and other painful conditions affecting mucous membranes. Lidocaine Ointment is also used to numb the skin before certain medical procedures.

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

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.

And since then it has been a painful ride downwards, as can be seen from the chart below:

The Roller Coaster Ride of the BSE Healthcare Index

As we wrote in one of our editions of The 5 Minute WrapUp...

• Pre-2015, pharma companies enjoyed a fairytale ride in the US market. Low labor costs, good chemistry skills, along with efficiency, ensured Indian companies could copy innovator drugs to make generic drugs at a fast pace.
  
  The generic business had lucrative margins for all major pharma players. But the party did not last long. In the quest to supply drugs quickly, they compromised on quality at their manufacturing facilities.
  
  No wonder, the US regulatory authority (USFDA) took strict action. Sun Pharma received a warning letter for its Halol manufacturing facility in 2015. It was like a bolt out of the blue. Since then, the downward spiral began and has continued till date.

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.