SGX Nifty Down 45 Points | Monte Carlo & Apollo Hospitals Q4 Results | Sun Pharma Partners Philogen | Top Buzzing Stocks Today

Wed, 31 May Pre-Open

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On Tuesday, Indian share markets continued their momentum as session progressed and ended higher for the fourth straight session.

Benchmark indices ended with gains after trading flat for most of the session. Investors remained cautiously optimistic, which was aided by broad-based gains across sectors, on improved global cues after US lawmakers reached a tentative debt ceiling deal over the weekend.

At the closing bell on Tuesday, the BSE Sensex stood higher by 123 points (up 0.2%).

Meanwhile, the NSE Nifty closed up by 35 points (up 0.2%).

HCL Tech and Kotak Mahindra were among the top gainers.

Hindalco and Tata Steel, on the other hand, were among the top losers.

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

Broader markets ended higher. The BSE Midcap index and BSE SmallCap ended 0.2% higher.

Sectoral indices ended on a mixed note with stocks in the financial sector and banking sector witnessing most of the buying.

On the other hand, stocks from the metal sector and energy sector witnessed selling pressure.

Shares of JK Cement and Cummins hit their 52-week highs on Tuesday.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee was trading at 82.7 against the US$.

Gold prices for the latest contract on MCX were trading 0.6% higher at Rs 59,839 per 10 grams at the time of Indian market closing hours on Tuesday.

At 7:45 AM today, the SGX Nifty was trading down by 50 points or 0.3% lower at 18,680 levels.

Indian share markets are headed for a negative opening today following the trend on SGX Nifty.

Speaking of stock markets, is CCI Products a multibagger in making?

The company is evolving from differentiated commodity player to FMCG brand.

Richa Agarwal talks more about the company in the below video.

Top Buzzing Stocks Today

Venus Remedies will be among the top buzzing stocks today.

Venus Remedies on Tuesday hit the 20% upper circuit after the company reported an over 4000% jump in its March 2023 quarter net profit.

The net profit for the March 2023 quarter stood at Rs 110 million (m), up 4700% YoY from Rs 2.3 m a year ago. Revenue climbed 9.3% to Rs 1.6 bn.

RVNL will also be in focus today.

Shares of railway PSU firm Rail Vikas Nigam (RVNL) fell 4.6% on Tuesday after the firm reported a weak result for March 2023 quarter.

The company reported a 5% YoY drop in consolidated net profit at Rs 3.6 billion (bn), compared to Rs 3.8 bn in the corresponding period last year.

Sun Pharma's new collaboration with Philogen

Sun Pharma, on Tuesday, entered into a licensing pact with Philogen to commercialise under-development skin cancer drugs in Europe, Australia and New Zealand.

The companies have come together to commercialise Philogen's speciality product Nidlegy, an anti-cancer biopharmaceutical currently in Phase III clinical trials.

Philogen, a Swiss-Italian firm, is developing it for the treatment of melanoma and non-melanoma skin cancers.

Under the terms of the agreement, Sun Pharma will have exclusive rights to commercialise Nidlegy.

Philogen will complete pivotal clinical trials for the product in Europe, pursue marketing authorisation with the regulatory authorities and manufacture commercial supplies.

The two partner companies will share post-commercialisation economics in about a 50:50 ratio.

While other financial terms were not disclosed, Philogen will retain the IP rights for Nidlegy for other territories and indications other than skin cancers.

This collaboration is in line with Sun Pharma's goal to bring innovative products to patients.

Sun Pharma is one of the leading players in the chronic therapies segment in India. In the past five years, the stock has gained 84.7% and is a strong candidate among the 4 pharma stocks to watch out for potential multibagger return.

Increasing demand for chronic conditions and ailments will be the growth driver for Sun Pharma in the future.

If you want to bank on a specialty pharma story, Sun Pharma is your best bet.

Monte Carlo Q4 results

Monte Carlo for March 2023 quarter reported a 45.7% YoY growth in revenue at Rs 2.4 bn, compared to Rs 1.6 bn in the year-ago period.

On the operating front, the company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) came in at Rs 323 m, up 43.1%.

The net profit for the quarter jumped 56% YoY to Rs 198 million (m).

Monte Carlo opened a total of 47 exclusive brand outlets, surpassing its target for the year of 40 to 45. As of March 2023, the total exclusive brand outlets stood at 356.

Along with announcing the financial results, the company is also seeking shareholders' approval to increase the borrowing limit to Rs 10 bn from the existing Rs 5 bn.

However, the management remains cautiously optimistic about the demand situation. They expect some reductions in discretionary spending.

This multibagger textile stock is a part of Dolly Khanna's portfolio.

Dolly Khanna first picked up 0.2 m shares in December 2021. To know more, read our editorial- Dolly Khanna turns bearish on these 2 smallcap stocks.

Apollo Hospital's Q4 profit rises 50%

The leading hospital chain's revenue from operations jumped 21% YoY to Rs 43 bn in the quarter under review. The same was Rs 35.5 bn in the year-ago period.

The company's EBITDA (earnings before interest, tax, depreciation, and amortisation) came in at Rs 4.9 bn, up 5.4% from Rs 4.6 bn in the year-ago period.

The company reported a 50% YoY surge in net profit to Rs 1.5 bn for the fourth quarter, compared to Rs 970 a year back.

The multinational healthcare group has also recommended a final dividend of Rs 9 per equity share (180%) of the face value of Rs 5 per share to the shareholders of the firm for the financial year (FY) 2022-2023. The record date has been fixed as Saturday, 19 August 2023.

Apollo Hospitals is one of the stocks with the highest promoter pledging.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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