The pharmaceuticals sector is expected to post a revenue growth of around 13.5 per cent and a net profit growth of 30.3 per cent for the third quarter of 2023-24 (FY24), riding on the approval for niche drugs in the US market, fall in raw material prices and correction in shipping rates. In the healthcare segment, hospitals are expected to post revenue growth of 13 per cent during the coverage, while net profit growth would be around 37 per cent, ICICI Securities said in a note. However, the performance may not be comparable on a sequential basis due to the offset of the festive season in Q3FY24, the analysts noted.
After a turnaround in performance by Indian equity markets since July that has seen the S&P BSE Sensex and the Nifty50 wipe out the year-to-date losses, analysts suggest investors start nibbling into stocks that are focused on the domestic economy. While they say intermittent corrections, led by policies of global central banks and other economic data, cannot be ruled out, analysts expect India's relative outperformance among global equity markets to continue as it looks better placed with a healthy economic recovery, and remains one of the fastest growing major economies. In this backdrop, Neeraj Chadawar, head of quantitative equity strategy at Axis Securities, believes that amid global slowdown, aggressive tightening by the central banks, and preference for domestic interests first (by the local government), export-oriented themes are likely to be muted or will deliver conservative returns in the near-term.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
CII has also called for tax incentives for new health care projects and import duty relief for lifesaving equipment.
Tele/video-consults have been effective for patients requiring post-hospitalisation follow-up, especially if they are from outside the city; patients with chronic diseases that need periodic monitoring; and pregnant women who require routine checkup with minimum exposure.
A glance back at some of the important ups and down Indian Inc faced in 2018.
S&P BSE Midcap index and S&P BSE Smallcap were down 2% and 1.3% respectively
Majority expect economy to slow down, but are satisfied with Modi govt's performance.
Profit taking in index heavweights RIL and HDFC weighed on sentiment while ICICI Bank surged 7%.
Nifty ends above 8,600; Tata Motors, RIL top leaders
Participants are keenly awaiting the rollovers to the next series ahead of the expiry of June F&O.
World Bank lowered its global economic growth outlook for 2016 to 2.9% from 3.3% earlier.
The rupee has depreciated by 0.95 per cent in two days.
Asian markets were trading mixed with shares in China witnessing profit taking after sharp gains in the previous session.
Industry seeks cut in customs duty on natural rubber.
Markets shrugged off RBI's neutral stance on key policy rates.
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Benchmark share indices ended lower on profit taking after they touched record highs in the previous session.
HDFC and Infosys contribute the most to today's rally.
Markets ended flat amid lacklustre participation from institutional investors.
Meanwhile, IT bucks trend; TCS, Tech Mahindra and Infosys from IT pack were up 0.2-1.3%.
Shares of rate sensitive sectors such as realty, infrastructure, banking and automobiles ended higher ahead of the Reserve Bank of India (RBI) mid-quarter policy review on June 17.
Referring to the concerns raised by industry captains and others during the meeting, Gujral admitted that the weakening Rupee is hurting importers.
The dip in industrial production has been described as not a cause for worry as this figure is based against the high growth of 14.8 per cent in March last year.
The market seems to have rewarded stocks in advance building in the Q1 forecast. Investors need to take a cautious stock specific approach to avoid disappointments.
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