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India's Third Giant Leap

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Indian markets trade flat
Mon, 23 Nov 11:30 am

After opening the day on a positive note, the Indian stock markets registered some losses and are presently trading close to the dotted line. Sectoral indices are trading on a mixed note with stocks from the auto and realty sectors leading the gains. FMCG and metal stocks are trading in the red.

The BSE-Sensex is trading up by 25 points (up 0.1%) and the NSE-Nifty is trading up by 9 points (up 0.1%). The S&P BSE Midcap index and the S&P BSE Smallcap index trading firm, up by 0.4% and 0.8% respectively. The rupee is trading at 66.36 to the US$.

Stocks in the pharma space are trading on a positive note with Pfizer and Sanofi India leading the gains. As per a leading financial daily, Pfizer is reportedly moving forward to sign a deal to buy Botox maker Allergan for US$150 billion. This would be the biggest transaction in drug industry so far.

The deal would involve Pfizer paying with 11.3 of its shares for each Allergan share. Further, there will also be a small cash component, accounting for less than 10% of the value of the deal. As per the sources, Pfizer's Chief Executive Ian Read will be CEO of the combined company, with Allergan's CEO Brent Saunders serving in a very senior role focused on operations and the integration.

Moreover, Pfizer drugs such as Lipitor, Viagra and Lyrica would be brought together with Allergan's Namenda memory loss treatment, Restasis dry eye medication and other leading eye-care brands. If concluded, the deal will be blotting out Pfizer's US$ 90 billion buyout of Warner Lambert in 2000. The deal would also provide Pfizer the tax benefits of an Irish domicile.

Mergers and acquisitions (M&A) activity in the pharma space have been on the rise of late. To know more about the mergers and acquisitions (M&A) activity that has taken place in some past years, please click here.

Automobile stocks are trading on a positive note with Escorts and Hero Motocorp witnessing maximum buying interest. Maruti Suzuki has maintained its leadership in the domestic passenger vehicle (PV) market in October. This comes as four of its models featured in the top 10 selling brands last month.

The company's Alto retained the top position in October with sales of 22,861 units, a 6.6% YoY growth. The sedan Dzire was the second best selling model with 21,084 units as compared to 16,542 units in October last year. Its premium hatchback Swift was the third, with a YoY increase of 23.6% at 17,699 units. WagonR stood at fourth position last month with 2.9% YoY increase in sales at 14,734 units.

Maruti Suzuki is India's largest passenger car company, accounting for over 50% of the domestic car market. The company is engaged in the business of manufacturing, purchase and sale of motor vehicles and spare parts. It is a subsidiary of Suzuki Motor Corporation of Japan. Currently its stock is trading up by 0.7%.

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

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