rupeedesk.in
Stocks of major pharmaceutical manufacturers are seen moving along with the broader markets next week, even as stock specific triggers may affect movement of some stocks. Pharmaceutical stocks are considered defensive stocks, but are seen moving along with market as macro economic news flow steers the marker momentum in the next few sessions. Ranbaxy Laboratories stocks are seen gaining some momentum as the drug regulatory authority of the UK is reported to have issued a statement clarifying that they have found no evidence of any Ranbaxy product in the UK market being of unacceptable quality.Last month, World Health Organisation had issued a similar statement. Also on Tuesday, the Supreme Court dismissed a public interest litigation seeking cancellation of Ranbaxy Laboratories' manufacturing licence. Stocks of pharmaceutical companies are also likely to take cues from the broader market that has seen choppy trade this week due to the rupee falling to new lows against the greenback. Indian pharmaceutical companies are seen gaining from the rupee's fall against the US dollar as they export to the US and Europe, among other markets. Stocks of the companies are expected to reflect this.
Stocks of major pharmaceutical manufacturers are seen moving along with the broader markets next week, even as stock specific triggers may affect movement of some stocks. Pharmaceutical stocks are considered defensive stocks, but are seen moving along with market as macro economic news flow steers the marker momentum in the next few sessions. Ranbaxy Laboratories stocks are seen gaining some momentum as the drug regulatory authority of the UK is reported to have issued a statement clarifying that they have found no evidence of any Ranbaxy product in the UK market being of unacceptable quality.Last month, World Health Organisation had issued a similar statement. Also on Tuesday, the Supreme Court dismissed a public interest litigation seeking cancellation of Ranbaxy Laboratories' manufacturing licence. Stocks of pharmaceutical companies are also likely to take cues from the broader market that has seen choppy trade this week due to the rupee falling to new lows against the greenback. Indian pharmaceutical companies are seen gaining from the rupee's fall against the US dollar as they export to the US and Europe, among other markets. Stocks of the companies are expected to reflect this.
