Cipla: Indian Pharma Market Grows by 9% in February
Indian Pharma industry registered 9% growth in February. Most sales done by Glaxosmithline, CIPLA, Mankind Pharma and Abbot companies.
In February, the Indian pharmaceutical market recorded a 9 percent increase in value, with positive trends in major therapeutic categories. Cardiac, anti-infective, and anti-neoplastic systems showed notable volume growth, while the respiratory segment experienced a -11.7 percent decline after a winter surge. New product launches and pricing strategies contributed to the growth, with a modest unit increase of 0.2 percent.
CIPLA Market Price is moving in Ascending channel and market has fallen from the higher high area of the channel
Top-selling brands included Glaxo Smith Kline’s Augmentin and USV’s Glycomet GP. Mankind’s Manforce condom brand regained the third position, and Abbott’s Rybelsus exhibited triple-digit growth in both value and unit rates.
Indigo: IndiGo Co-founder Rakesh Gangwal Eyes $450M in Block Deal
Indigo Co Founder Rakesh Gangwal is planning to sell his stake of 3.3% and worthe about $450 million in his company. He has already step down from February 2022, So he announced plans for sell his stake in phased manner.
Interglobe Aviation’s co-founder, Rakesh Gangwal, is reportedly planning to sell a 3.3 percent stake, aiming to raise approximately $450 million, according to sources familiar with the matter.
INTERGLOBE AVIATIO is moving in Ascending channel and market has reached higher low area of the channel
The proposed block deal has an offer floor price of Rs 2,925 per share, reflecting a 5.8 percent discount to the last closing price. Investment banks Morgan Stanley, JP Morgan, and Goldman Sachs are advising Gangwal on the transaction. Gangwal and his family trust currently own around 25 percent of Interglobe Aviation. This move follows his earlier stake dilution plans, with the most recent block deal in August 2023.
Bharati Airtel : Pastel offloads Rs 5,849 crore stake in Bharti Airtel
Pastel the Foreign Promoter of Bharti Airtel sold 0.81% percent stake in Bharti Airtel worth of Rs.5849.13 Cr.
Pastel, the foreign promoter of Bharti Airtel, divested 4,90,00,000 shares, representing a 0.81 percent stake, at an average price of Rs 1193.7 per share. The total value of the stake sold reached Rs 5,849.13 crore, with Bharti Airtel shares closing at Rs 1,205 on NSE, up by 0.95 percent.
– In Mahindra and Mahindra, promoter entity Prudential Management and Services sold 93,00,000 shares, equivalent to a 0.74 percent stake, at an average price of Rs 1,912.04 per share, resulting in the sale of stake worth Rs 1,778.19 crore. Mahindra and Mahindra stock declined 3.99 percent to Rs 1,892 on NSE.
– In Cartrade Tech, foreign investor Springfield Venture International sold 3,80,000 shares or 0.81 percent stake at Rs 739.39 per share. Springfield Venture offloaded 1.34 percent stake in the previous session.
– In G R Infraprojects, promoters Lalita Agarwal, Kiran Agarwal, Suman Agarwal, Ritu Agarwal, Laxmi Devi Agarwal, Agarwal Ritu collectively sold 48,34,450 shares, amounting to 4.99 percent stake at an average price of Rs 1171.01 per share. The promoters are selling shares to meet the minimum public shareholding norms of 25 percent. The promoter held 79.74 percent stake in the company til December 2023. Furthermore, SBI Mutual Fund acquired 11,50,664 shares or 1.19 percent stake in G R Infraprojects at Rs 1171 per share.
BHARTI AIRTEL has broken box pattern in upside
– In SBFC Finance, promoter entity SBFC Holdings PTE offloaded 2,96,13,444 shares or 2.77 percent stake at an average price of Rs 86.35 per share. SBFC Holdings held 58.26 percent stake in the company til December 2023. Aditya Birla Sun Life Multi Cap Fund bought 55,64,648 shares or 0.52 percent stake at an average price of 85.52 per share.
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