www.rupeedesk.in
Stocks of major pharmaceutical companies are seen moving upwards next week
following the broad market that is expected to gain due to the upbeat sentiment of
investors. Investor sentiment remains positive as National Stock Exchange's 50-share
Nifty ended above the psychologically important 6500-mark yesterday. The next week
being a truncated one on the occasion of Holi, investors would remain slightly conscious
and also will track global developments for initial cues. The market will also be driven
largely by the political developments in the run-up to the general elections next month.
Next week Sun Pharmaceuticals Industries Ltd's stocks will continue to lose on US Food
and Drug Administration's import alert on its Karkhadi plant in Gujarat. The company
has received an import alert from the US regulator for its cephalosporin facility located in
Gujarat, for non-compliance of good manufacturing practices. Also Ranbaxy
Laboratories Ltd's stocks will be under close watch after the Supreme Court yesterday
issued a notice to the company. Supreme Court has issued a notice to the pharmaceutical
company and centre on a Public Interest Litigation seeking probe against the company for
allegedly supplying adulterated drugs in the country.
Stocks of major pharmaceutical companies are seen moving upwards next week
following the broad market that is expected to gain due to the upbeat sentiment of
investors. Investor sentiment remains positive as National Stock Exchange's 50-share
Nifty ended above the psychologically important 6500-mark yesterday. The next week
being a truncated one on the occasion of Holi, investors would remain slightly conscious
and also will track global developments for initial cues. The market will also be driven
largely by the political developments in the run-up to the general elections next month.
Next week Sun Pharmaceuticals Industries Ltd's stocks will continue to lose on US Food
and Drug Administration's import alert on its Karkhadi plant in Gujarat. The company
has received an import alert from the US regulator for its cephalosporin facility located in
Gujarat, for non-compliance of good manufacturing practices. Also Ranbaxy
Laboratories Ltd's stocks will be under close watch after the Supreme Court yesterday
issued a notice to the company. Supreme Court has issued a notice to the pharmaceutical
company and centre on a Public Interest Litigation seeking probe against the company for
allegedly supplying adulterated drugs in the country.
