Deal valuations weigh on Apollo Hospitals stock rediff.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rediff.com Daily Mail and Mail on Sunday newspapers.
Since the start of this financial year (FY24), the stock of Aurobindo Pharma has been one of the top pharma gainers, enhancing investor wealth by over 68 per cent, with a third of those gains coming in the last three months.
The stock is riding on multiple triggers given its investments in the production-linked incentive or PLI scheme, biosimilars, injectables and vaccines, which should drive revenues and profits over the medium term.
Better than expected performance after the June quarter results led to a revision of earnings estimates for FY24 and FY25.
According to analysts, the sale of Glenmark Life could impact the profitability of Glenmark Pharma in FY25 but lower interest payments could offset the impact. ICICI Securities said the company will use the proceeds to clear its outstanding debt of 4,340 crore as of FY23 but the transaction is likely to result in an earnings cut of 5% for FY25. The brokerage has a sell rating on the stock with a price target of 660.
Indian designers showcase apparel from recycled turbans and heirloom saris at Redress Design Award thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
Environmental NGO Redress announces the 30 Semi-finalist designers of the world’s largest sustainable fashion design competition, the Redress Design Award 2023, and calls for the global public to vote for the designer who can best influence the future of the fashion industry.
The Redress Design Award, with Create Hong Kong (CreateHK) of the Government of the Hong Kong Special Administrative Region (HKSAR) as the Lead Sponsor, scours the globe for talent.