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Novartis Plunges 4%; BSE HEALTHCARE Index Up 0.1%
Tue, 23 Jul 9:37

Novartis Plunges 4%; BSE HEALTHCARE Index Up 0.1%Image source: CreativaImages/www.istockphoto.com

Novartis share price has plunged 4% and is presently trading at Rs 1,119.0.

Meanwhile, the BSE HEALTHCARE index is at 38,536.8 (up 0.1%).

Among the top losers in the BSE HEALTHCARE index today are Glenmark Pharma (down 1.2%) and GRANULES INDIA (down 0.9%).

GSK Pharma (up 3.2%) and SUVEN PHARMACEUTICALS (up 2.2%) are among the top gainers today.

Over the last one year, Novartis has moved up from Rs 903.6 to Rs 1,119.0, registering a gain of Rs 215.4 (up 23.8%).

On the other hand, the BSE HEALTHCARE index has moved up from 26,477.4 to 38,536.8, registering a gain of 45.5% during the last 12 months.

The top gainers among the BSE HEALTHCARE index stocks during this same period were Glenmark Pharma (up 96.1%), Lupin (up 94.5%) and GSK Pharma (up 92.8%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 80,579.1 (up 0.1%).

The top gainers among the BSE Sensex today are Ultratech Cement (up 1.5%) and M&M (up 1.2%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,516.5 . Eicher Motor and Ultratech Cement are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,097.4 to 80,579.1, registering a gain of 13,481.7 points (up 20.1%).

Novartis Financial Update...

Novartis net profit fell 41.3% YoY to Rs 147 million for the quarter ended March 2024, compared to a profit of Rs 250 million a year ago. Net sales rose 6.6% to Rs 812 million during the period as against Rs 761 million in January-March 2023.

For the year ended March 2024, Novartis reported 17.6% decrease in net profit to Rs 852 million compared to net profit of Rs 1,034 million during FY23. Revenue of the company fell 11.5% to Rs 3,351 million during FY24.

The current Price to earnings ratio of Novartis, based on rolling 12 month earnings, stands at 32.4.


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