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Metal & Realty Stock Lead the Gains
Mon, 11 Jul 01:30 pm

Indian stock market continued to rally in the post noon trading session amid positive global cues. Major sectoral indices are trading in the green with stocks from the metal and realty witnessing maximum buying interest.

The BSE Sensex is trading higher by 471 points (up 1.7%) and the NSE Nifty is trading higher by 134 points (up 1.6%). The BSE Mid Cap index is trading higher by 1.5% while the BSE Small Cap index is trading lower by 0.9%. Gold prices, per 10 grams, are trading at Rs 31,680 levels. Silver price, per kilogram, is trading at Rs 47,913 levels. Crude oil is trading at Rs 3,016 per barrel. The rupee is trading at 67.16 to the US$.

As per an article in The Economic Times, Sun Pharmaceutical Industries Ltd announced the roll-out of Gemcitabine InfuSMART in Europe. Sun Pharma claimed that it is the world's first pharmaceutical company to manufacture and launch a licensed ready-to-administer oncology/cancer product.

In a statement, the company said InfuSMART is a technology in which oncology products were developed in a ready-to-administer bag. One shall note that, until now, compounding of oncology products was done at compounding centers or compounded in hospital pharmacies

Sun Pharma received regulatory approval to produce Gemcitabine InfuSMART in eight key SKUs. Over the next few months, Sun Pharma will launch Gemcitabine InfuSMART across Netherlands, Britain, Spain, Germany, Italy and France.

Reportedly, the Gemcitabine InfuSmart RTA infusion bag is developed at Sun Pharma's R&D centre in India. The company said that this was a part its business strategy to build a meaningful presence globally.

According to WHO, approximately 14 million new cases of cancer and 8.2 million cancer related deaths in 2012 were identified. Moreover, the number of new cases is expected to rise by about 70% over the next two decades. Subsequently, the launch of Gemcitabine offers Sun Pharma a definite first-mover advantage in Europe for cancer treatment.

Sun Pharma was trading up by 1.4% at the time of writing.

Moving on to the news from the steel sector. According to a leading financial daily, Tata Steel announced that it was exploring a joint venture with its German competitor ThyssenKrupp AG. The company has entered into discussions with strategic collaborations through a potential partnership.

Reportedly, after Brexit, Tata Steel may have put on hold the sale of UK steel units. The company's board decided to discover other alternatives including joint venture with the German giant.

Further, Tata Steel has said it was losing about US$ 1.3 million a day in Britain amid high costs and a glut of cheap Chinese steel in the global market. In our recent edition of The 5 Minute WrapUp we have have addressed the issues related to Chinese steel production.

Tata Steel's British assets include a steel plant in Port Talbot, Wales, that employs 4,000 people.

Moreover, in a bid to avert meltdown in the sector, ministers in UK promised to take a stake of up to a 25% in Tata Steel UK. They have also offered to change the law to cut the liabilities of the British Steel Pension Scheme, which has an estimated deficit of Euro 700 m.

As per the reports, it is likely that Tata Steel will consolidate its Ijumuiden plant in the Netherlands. Ijmuiden and ThyssenKrupp are competitors and a consolidation in a weak European market would make sense for both the entities.

Tata Steel was trading up by 1.9% while writing.

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