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Novartis Gains 8%; BSE HEALTHCARE Index Down 0.4%
Thu, 26 Sep 14:47

Novartis Gains 8%; BSE HEALTHCARE Index Down 0.4%Image source: Sefa Ozel/www.istockphoto.com

Novartis share price has zoomed 8% and is presently trading at Rs 1,166.0.

Meanwhile, the BSE HEALTHCARE index is at 43,997.4 (down 0.4%).

Among the top gainers in the BSE HEALTHCARE index today are FORTIS HEALTHCARE (up 2.3%) and Abbott India (up 2.0%).

Sanofi India (down 2.9%) and DR. LAL PATHLABS (down 2.8%) are among the top losers today.

Over the last one year, Novartis has moved up from Rs 722.1 to Rs 1,166.0, registering a gain of Rs 443.9 (up 61.5%).

On the other hand, the BSE HEALTHCARE index has moved up from 27,800.9 to 43,997.4, registering a gain of 58.3% during the last 12 months.

The top gainers among the BSE HEALTHCARE index stocks during this same period were Jubilant Pharmova (up 182.8%), SUVEN PHARMACEUTICALS (up 124.2%) and Glenmark Pharma (up 112.9%).

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What About the Benchmark Indices?

The BSE Sensex is at 85,700.6 (up 0.6%).

The top gainers among the BSE Sensex today are Maruti Suzuki (up 4.8%) and M&M (up 3.3%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 26,189.9 (up 0.7%). Maruti Suzuki and M&M are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,023.7 to 85,700.6, registering a gain of 19,676.9 points (up 29.8%).

Novartis Financial Update...

Novartis net profit grew 27.0% YoY to Rs 257 million for the quarter ended June 2024, compared to a profit of Rs 203 million a year ago. Net sales rose 1.9% to Rs 923 million during the period as against Rs 906 million in April-June 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 31.8.


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