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The company is preparing a detailed response to be submitted within the stipulated timelines and said it remains committed to the highest standards of compliance, working closely with the regulator to address all points raised.
Piramal Pharma (PPL) offers a portfolio of differentiated products and services through end-to-end manufacturing capabilities across 17 global facilities and a global distribution network in over 100 countries. PPL includes Piramal Pharma Solutions (PPS), an integrated Contract Development and Manufacturing Organization; Piramal Critical Care (PCC), a Complex Hospital Generics business; and the India Consumer Healthcare business, selling over-the-counter products.
The company reported a consolidated net loss of Rs 99.22 crore in Q2 FY26, compared with a net profit of Rs 22.59 crore recorded in Q2 FY25. Revenue from operations for the period under review declined 8.83% year-on-year (YoY) to Rs 2,043.72 crore.
Shares of Piramal Pharma rose 0.93% to Rs 173.40 on the BSE.
Piramal Pharma Ltd is down for a fifth straight session today. The stock is quoting at Rs 193, down 1.25% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.14% on the day, quoting at 25609.05. The Sensex is at 83614.62, up 0.09%.Piramal Pharma Ltd has lost around 2.32% in last one month.Meanwhile, Nifty Pharma index of which Piramal Pharma Ltd is a constituent, has increased around 0.57% in last one month and is currently quoting at 22379.85, down 0.22% on the day. The volume in the stock stood at 12.78 lakh shares today, compared to the daily average of 35.33 lakh shares in last one month.
The benchmark November futures contract for the stock is quoting at Rs 193.39, down 1.49% on the day. Piramal Pharma Ltd tumbled 22.98% in last one year as compared to a 7.23% rally in NIFTY and a 0.81% spurt in the Nifty Pharma index.
The PE of the stock is 36.8 based on TTM earnings ending September 25.
Realty shares tumbled for second consecutive trading session.
At 14:25 IST, the barometer index, the S&P BSE Sensex declined 47.59 points or 0.06% to 83,419.87. The Nifty 50 index fell 62.95 points or 0.25% to 25,534.40.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1.33% and the S&P BSE Small-Cap index fell 0.47%.
The market breadth was weak. On the BSE, 1,188 shares rose and 2,960 shares fell. A total of 167 shares were unchanged.
Economy:
The seasonally adjusted HSBC India Services PMI Business Activity Index stood at 58.9 in October, comfortably above both the neutral mark of 50.0 and its long-run average of 54.3. October data showed softer, although still substantial, expansions in Indian services output and new business. While factors like demand buoyancy and GST (Goods and Services Tax) relief reportedly led to an improvement in operating conditions, competition and heavy rains constrained growth.
HSBC India Composite PMI Output Index fell to 60.4 in October from 61.0 in September. There was also a weaker, albeit still substantial, upturn in aggregate sales. The rate of expansion was the softest in five months. For new orders and output, the slowdowns in growth were centred on the service economy as manufacturers actually registered quicker rates of expansion.
Buzzing Index:
The Nifty Realty index fell 1.27% to 948.85. The index dropped 2.04% in the two consecutive trading sessions.
Anant Raj (down 3.49%), Godrej Properties (down 3.45%), Brigade Enterprises (down 2.46%), DLF (down 2.03%), Prestige Estates Projects (down 1.31%), Phoenix Mills (down 1.24%) and Oberoi Realty (down 0.02%) declined.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.47% to 6.499 from the previous close of 6.530.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 88.6400 compared with its close of 88.7700 during the previous trading session.
MCX Gold futures for 5 December 2025 settlement rose 0.71% to Rs 121,376.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.15% to 100.02.
The United States 10-year bond yield fell 0.38% to 4.143.
In the commodities market, Brent crude for December 2025 settlement advanced 34 cents or 0.54% to $63.86 a barrel.
Stocks in Spotlight:
Devyani International (DIL) declined 2.105 after the company reported a mixed Q2 FY26 performance, with net loss widening to Rs 23.95 crore from Rs 4.92 crore in Q2 FY25, despite revenue growth driven by network expansion and steady demand. On a consolidated basis, revenue from operations increased 12.7% year-on-year to Rs 1,376.75 crore in the quarter ended September 2025.
Indoco Remedies fell 1.70%. The company consolidated net loss narrowed to Rs 9.21 crore in Q2 FY26, compared with net loss of Rs 10.01 crore reported in Q2 FY25. Revenue from operations stood at Rs 471.83 crore in the second quarter of FY26, up 9.59% as against Rs 430.66 crore posted in Q2 FY25.
Piramal Pharma rose 0.92%, The company reported a consolidated net loss of Rs 99.22 crore in Q2 FY26, compared with a net profit of Rs 22.59 crore recorded in Q2 FY25. Revenue from operations for the period under review declined 8.83% year-on-year (YoY) to Rs 2,043.72 crore. The YoY performance was impacted by inventory destocking by a customer in one large CDMO order.
EBITDA fell 44% YoY to Rs 224 crore in Q2 FY26 from Rs 403 crore in Q2 FY25. The EBITDA margin contracted to 11% in Q2 FY26 from 18% in the corresponding quarter last year.
The company reported a pre-tax loss of Rs 46.18 crore in the September 2025 quarter, compared with a profit before tax of Rs 120.12 crore in the same period last year.
On a half-year basis, the company reported a consolidated net loss of Rs 180.92 crore in H1 FY26, compared with a net loss of Rs 66.05 crore recorded in the same period last year, while revenue declined 5.13% year-on-year (YoY) to Rs 3,977.44 crore in H1 FY26.
Nandini Piramal, chairperson, Piramal Pharma, said “YoY growth in the CDMO Business was primarily impacted by inventory destocking in one large on-patent commercial product. Inconsistent recovery in US biopharma funding along with uncertainties on global trade policies led to adverse impact on order inflows and customer decision making during H1FY26. However, in the months of September and October 2025, we have seen a significant pick up in biopharma funding, which if sustains, should lend impetus to increased RFPs and orders going forward. Also, we are seeing strong customer interest for onshore offerings which bodes well for the investments we have made in our overseas sites.
In our CHG business we further strengthened our leadership position in the US Sevoflurane market, while simultaneously working to obtain regulatory approvals for ex-US markets from our India plant. Our consumer business delivered healthy mid-teen growth, seamlessly collaborating with various stakeholders for smooth transition to new GST rates changes.”
The scrip rose 0.45% to currently trade at Rs 201.40 on the BSE.