Indian Indices Open Flat

Mon, 19 Sep 09:30 am

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Major Asian stock markets have opened the day on a positive note with the stock markets in Taiwan and China are trading higher by 2.6% and 0.6% respectively. Benchmark indices in Europe and the US ended their previous session in red with benchmarks indices in US ending the day lower by 0.5%. The rupee is trading at 66.88 per US$.

Indian stock markets have opened the day on a flattish note. The BSE Sensex is trading marginally higher by 38 points (up 0.1%) and the NSE Nifty is trading higher by 8 points (up 0.1%). Both, BSE Mid Cap and BSE Small Cap are trading higher by 0.5% each.

Barring information technology, major sectoral indices have opened the day on a positive note. Stocks from banking sector are witnessing maximum buying interest.

As per an article in Livemint, Lupin is looking for opportunities for an acquisition in the domestic market. The company has made significant number of acquisitions in the overseas market in the preceding two years. This includes the likes Gavis Pharmaceutical acquired for a sum of US$ 880 million and Shionogi's product portfolio in Japan.

Now it is looking out for opportunities in the domestic market, considering that pharmaceutical market in India is expected to grow to US$ 55 billion in 2020 from the current US$ 20 billion as per reports.

Reportedly, according to management the acquisition in the domestic space will be done for the therapies in which the company has lower market share or little presence. This will enable the company to diversify its presence across varied therapies.

India business currently accounts for 29% of the company's revenues. Lupin is currently ranked 8th in the domestic Pharmaceutical market. It is the leading player in the Anti-TB segment. Further, the company also derives major portion of its revenues from respiratory, anti-diabetic and cardiology segments in the domestic market.

Thus one will have to look into as to which new therapies Lupin will enter. The stock is trading marginally higher by 0.1%.

In another news update, a committee headed by the chief economic advisor, Mr Arvind Subramanian, has recommended increasing the minimum support price of tur and urad dal by 20%.

Reportedly, the committee stated that the MSP of the two pulse variety should be increased to Rs 60 kg from the prevailing Rs 50 kg. The increase in MSP if accepted will help the farmers with increased income. This in-turn can spurt the rural consumption which has remained subdued since a while now. Further, a normal monsoon this year is expected to bring in bumper production of agriculture produce of pulses in India.

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