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DRL Q4 results preview: Nirmal Bang sees US revenue for the drug maker rising 23 per cent YoY to $378 million on account of a lower base last year. ....
The drugmaker is expected to report a 1.1% YoY drop in consolidated net profit to Rs 1,247 crore, according to the average of estimates given by seven brokerages. The company is scheduled to release its quarterly earnings on Tuesday. ....
On Tuesday, when the whole market was reeling under pressure, two stocks reacted to their numbers in a positive direction. Both of them were large caps from one sector which is pharma. This becomes significant from three perspectives. First, that positive reaction was there on the day when there was a bloodbath on the street. Second, these stocks were already sitting on gains, so there is little probability of short covering leading to this sort of gains. Last but not the least it has come from sectors like pharma which have seen a very long phase of business remodelling and valuation readjustment, which makes it worth noticing. It might be too early to call, but if a re-rating gets momentum then they might be candidates for volatile markets. ....
Tata Steel traded at a discount of 39 per cent at 12.4 times against a 10-year PE average of 20.4 times. This stock is up 19 per cent in the last six and 15 per cent in the last one year. ....
India VIX was down by 0.68% from 14.68 to 14.58 levels in the previous trading session. Volatility was slightly down and has been cooling off from the last four sessions. ....