ALERT :: Strides Pharma receives USFDA approval for Fluoxetine tablets
>> Fluoxetine is an antidepressant of the Selective Serotonin Reuptake Inhibitor (SSRI) class.
>> Fluoxetine tablets has a market size of $23.9 million as per IMS
>> The company has 260 cumulative ANDA filings (including the recently acquired portfolio from Endo at Chestnut Ridge) with USFDA, of which 245 ANDAs have been approved.
>> The company has set a target to launch ~ 60 new products over three years in the US.
Godrej Properties surges 8%, hits new high on strong Q4 business update
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ALERT :: Natco Pharma receives Warning Letter from the USFDA
>> The Company does not believe that the Warning Leter will have an impact on disruption of supplies or existing revenues from this facility.
>> It may cause delay/withholding of pending product approvals from this site.
Comment :: ‘There is valuation comfort in large-cap banking stocks’
The new records set by the market yesterday confirms the bullish market undertone. A healthy and desirable trend in the market movement yesterday was the outperformance of the largecaps. This trend is likely to continue.
It is important to understand the fact that in this richly valued market, there is valuation comfort in largecap banking stocks. More importantly, Q4 results of the banking majors are likely to be very good. Sectors like capital goods, autos, cement and hospitality are likely to remain resilient.
Views by: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Sula Vineyards rises 3% as Q4 biz update shows revenue grew 10% YoY
>> In absolute terms, net revenue for Q4FY24 stood at Rs 131.8 crore, while full-year revenue came in at Rs 608.6 crore
Q4 result reaction :: Cupid freezes at 5% upper circuit
Dilip Buildcon gains nearly 3% on order win worth Rs 1,092 crore
>> The company won an order worth of Rs 1,092 crore from Haryana Rail Infrastructure Development Corp on EPC mode.
Gland Pharma declines over 5% after large trade
>> According to reports, Nicomac Machinery & RP Advisory Services were looking to sell up to 4.4% equity in Gland Pharma at a floor price of Rs 1,725/share.
Tata Motors gains 1% on healthy JLR sales
Axis Bank volatile after bulk deal; Over 30 mn shares change hands in early deals
>> Bain Capital will sell about 33.40 million shares of the lender, representing an over 1% stake, at an offer price in the range of Rs 1,071 to Rs 1,076.05 per share, the term sheet showed.