Pharma Stocks Outlook For The Week - 29.10.2018 To 02.11.2018

Pharma Stocks Outlook For The Week - 29.10.2018 To 02.11.2018

             Equity Cash/Futures/Options Segment 

Earnings of Dr Reddy's Laboratories and Lupin will lend cues to other pharmaceutical companies'
shares next week as investors focus on corporate earnings for the September quarter. Dr Reddy's
Laboratories yesterday announced a better-than-expected consolidated net profit of 5.2 bln rupees
for the quarter ended September. The company's performance in its largest drug market, the US,
was flat and may turn an already cautious investment community negative on the sector. Lupin will
announce its Jul-Sep earnings on Wednesday. Stocks of pharmaceutical companies have seen good
traction with investors over the past quarter on the view that the worst in terms of earnings for the sector has come to an end and that going forward these companies will see good earnings recovery aided by faster drug launches in the US. Last week, the Nifty Pharma index ended with losses of 5.6% underperforming the benchmark which lost nearly 3% in the same period. Cues from the broader equity market are unlikely to aid the sector as benchmark indices are expected to track global equity markets, which have been under pressure lately because of concern over the impact of global trade war on growth and geopolitical tensions in West Asia.

Source : Cogencis Information Services Ltd.

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