The near-term worry for the company is the ongoing investigation by the US Department of Justice related to price fixing and cartelisation by generic companies
According to CARE Ratings, pharma exports from India are estimated to rise by about 11 to 12 per cent on a year on year.
Allegations of fund diversion not confirmed
For Sun Pharma, keep a stop at 407 and go short
Balkrishna Industries is currently hovering in a range while holding strong above the support zone of 20 EMA on the daily charts
The company's India sales posted 13% growth
The company had posted a net profit of Rs 1,241.85 crore for the corresponding period of the previous fiscal
A total of 135 companies are scheduled to announce their December quarter earnings today including Eicher Motors, Hero MotoCorp, Sun Pharma, and RITES
On the corporate earnings front, Bharti Airtel, Lupin, Sun Pharma, and Mahindra & Mahindra are among the major companies scheduled to declare their October-December results this week
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
Lupin, Sun Pharmaceutical, Cadila Healthcare, Aarti Drugs and Aurobindo Pharma were up in the range of 2 per cent to 3 per cent.
Dilip Shanghvi, the Sun Pharma promoter has 23% in renewable power firm that has failed to get debt recast plan
Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor
Halol plant observations add to worries on the extent of upsides from specialty drugs
The company said it was preparing the response to the observations, which will be submitted to the US FDA within 15 business days
Shares of the company on Monday ended 2.18 per cent lower at Rs 440 apiece on the BSE
While pricing pressure in the US generics is also stabilising, the specialty products that Sun Pharma has been investing in are seen as a growth driver of its US business
From DGCA directing IndiGo to replace unmodified P&W engines to Karvy denying fund abuse charges, here are the top headlines of the day.
Prosecutors have been investigating allegations that generic drugmakers conspired to prop up the prices of certain widely used medications for more than five years
Among other individual stocks, Lupin, Dr Reddy's Laboratories, Divi's Laboratories and Aurobindo Pharma from the Nifty Pharma index were up 3 per cent each on the NSE.