Sensex Trades Lower; Cipla & Asian Paints Hit the Most

Fri, 7 Oct 01:30 pm

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Indian share markets are trading lower during the post-noon trading session amid subdued Asian markets. Barring stocks from auto & metal sector, major sectoral indices are trading in the red with stocks from IT, oil & gas sector leading the losses.

The BSE Sensex is trading lower by 95 points (down 0.3%) while the NSE Nifty is trading lower by 31 points (down 0.4%). The BSE Mid Cap index and BSE Small Cap index are both trading flat. Gold prices, per 10 grams, are trading at Rs 29,657 levels. Silver price, per kilogram is trading at Rs 41,532 levels. Crude oil is trading at Rs 3,390 per barrel. The rupee is trading at 66.78 to the US$.

Stocks from pharma sector are trading on a positive note with only HYPERLINK "https://www.equitymaster.com/result.asp?symbol=ELDER&name=ELDER-PHARMA-Stock-Quote-Chart" Elder Pharma and Panacea Biotech trading in the green. As per an article in a leading financial daily, Lupin's US subsidiary, Lupin Pharmaceutical Inc., has agreed to license technology from Monosol Rx to develop multiple pediatric products. MonoSol Rx is a global leader in film based drug delivery applications.

Reportedly, Lupin would develop the pediatric products utilizing MonoSol Rx's proprietary PharmFilm drug delivery technology. PharmFilm technology will be used to treat patients who may have difficulty swallowing pills or tolerating medication in traditional delivery forms.

The agreement would be in line with the company's focus on expanding into the specialty pharmaceutical market and specifically, pediatric needs, the company stated. Other Indian generic drug makers are increasingly investing in new drug delivery mechanisms in a bid to differentiate from competition.

In another development, it was reported that, the Indian Biosimilar market is expected to grow to US$40 billion by 2030. This segment offers US$240 billion global opportunity for Indian drug industry by 2030. Biosimilars are biotech-based medicines mainly for treating life-threatening diseases such as cancer and are follow-on biologics. These are therapeutic proteins manufactured from natural sources.

Indian biosimilars industry stood at US$300 million in 2015 out of which the domestic sales were close to US$250 million. However, the need of the hour is a collaborative effort from industry players as compared to the current strategy of going solo to the market, the reports noted.

Further, Indian pharma companies such as Dr Reddy's, Biocon, and Cadila derive some revenues from the sale of biosimilars, largely from the Indian markets and a smaller portion coming from the emerging markets. But given the complexity of biologics, will Indian companies be able to break some ground in this space? (Subscription Required) One of our premium edition of The 5 Minute Wrap up offers a view on the same.

Currently, shares of Lupin are trading up by 0.8%.

Moving on to news from stocks in telecom sector. As per an article in Livemint, Idea Cellular has bought spectrum worth 128 billion rupees in recent auction. It bought a total of 349.2 MHz across circles.

Reportedly, Idea has acquired additional 2×74.6 MHz spectrum in FDD technology on 1800 and 2100 bands, and 200 MHz of capacity spectrum in Time Division Duplex (TDD) technology on 2300 and 2500 bands. This marks Idea's entry into the world of TDD LTE with its first ever acquisition of unpaired spectrum in the 2016 auctions. Unlike paired band (half of upload and half for download), unpaired spectrum delivers more download speeds due to its fungibility and flexibility.

Idea is now well equipped to offer 4G services on its own spectrum across 20 service areas. Additionally, Idea has also procured 3G spectrum in Bihar & Rajasthan extending its capability to offer 3G services to 15 service areas.

Notably, Idea in this auction has expanded its spectrum portfolio by over 64%. Idea now owns 64 broadband carriers. It further intends to use 47 of these carriers on 4G LTE technology covering 94% of its revenue base and 17 carriers for 3G services.

Moreover, with Bharti Airtel and Reliance Jio's existing edge in the matter of 4G speeds, Idea through this spectrum auction has strengthened its position.

Shares of Idea Cellular are trading flat.

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