In the last three years, Novartis is the third MNC pharma company which has announced sale of a part of its business in India. Some of these restructuring are being done as part of the global readjustment being made at the parent companies level. The bigger question is whether after this restructuring will the MNC pharma stocks, which have been underperforming for quite some time, be able to make a comeback on the street or not. This answer to this question would depend on multiple factors. Right from the use of the sale proceeds to whether post restructuring focus would be on a 100 percent subsidiary or not. In both positive and negative cases, these stocks probably should be on watchlist as news flow around them increases in coming quarters. We take a look at 7 MNC pharma companies.
Stocks to watch on August 9, 2023: Indian stock market is likely to consolidate, while Interest sensitive sectors are likely to be in focus in near-term. Tata Power, Coal India, Adani Ports, ICICI Bank, IRCTC, Bharat Forge are among stocks to watch on Wednesday.