Jefferies says big pharma firms to get bigger; lists Sun Pharma and Syngene as top picks, downgrades Biocon, Cipla

Jefferies expects big companies and big brands to become bigger as consolidation gathers pace in the pharma sector.

Biocon hits 52-week low as USFDA issues complete response letter for its Insulin application

Biocon Biologics' shares dropped to a new 52-week low after the US FDA disapproved its Insulin application citing the need for further data and corrective measures. Analysts have a 'HOLD' call on the stock, which has decreased by 23% in the past six months.

From Paytm to Biocon: These 12 Nifty 100 stocks are the biggest wealth destroyers in 2022

Shares of One 97 communications, Paytm's parent company stood at the top of the list. The stock lost 62.6% of its value in 2022, falling from ₹1334.55 apiece to the current market price of ₹512.15. Gland Pharma, a pharmaceutical firm, was another stock that lost investors' wealth in 2022.

Stocks To Watch: Biocon, Gland Pharma, NDTV, IndiGo, SpiceJet in news today; Details here

Data due at 5:30 p.m. IST on Wednesday is expected to show the Indian economy likely returned to a more normal 6.2% annual growth rate in July-September after double-digit expansion in the previous quarter.

Stocks To Watch: Biocon, M&M Financial, Zee Entertainment, Shoppers Stop, IIFL Wealth

India's NSE stock futures listed on the Singapore exchange were up 0.45% at 18,336 as of 0116 GMT.

Stocks To Watch in Trade: Biocon, Tata Motors, SpiceJet, Apollo Tyres and Grasim Industries are stocks in news today

India's NSE stock futures listed on the Singapore exchange were up 0.29%, as of 0150 GMT. The MSCI's broadest index of Asia-Pacific shares outside Japan rose about 0.8%.

Biocon Q2 net dips 11% to ₹168 crore; board approves fundraising

Biocon had reported a net profit of ₹188 crore (before exceptional items) in the July-September quarter of previous fiscal. Revenue from operations rose to ₹2,320 crore in the period under review as compared with ₹1,840 crore in the September quarter, Biocon Ltd said in a statement.

Top Biocon News

markets

Jefferies says big pharma firms to get bigger; lists Sun Pharma and Syngene as top picks, downgrades Biocon, Cipla

markets

markets

markets