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Pharma shares witnessed buying interest for six consecutive trading session.
At 11:25 IST, the barometer index, the S&P BSE Sensex declined 107.51 points or 0.13% to 80,891.89. The Nifty 50 index shed 41.45 points or 0.17% to 24,944.95.
In the broader market, the BSE 150 MidCap Index declined 0.33% and the BSE 250 SmallCap Index fell 0.37%.
The market breadth was negative. On the BSE, 1,678 shares rose and 2,352 shares fell. A total of 275 shares were unchanged.
Buzzing Index:
The Nifty Pharma Index jumped 1.78% to 28,933.45. The index jumped 6.75% in the six consecutive trading sessions.
Gland Pharma (up 6.62%), Sai Life Sciences (up 5.64%), Divis Laboratories (up 5%), Laurus Labs (up 4.33%), Glenmark Pharmaceuticals (up 3.49%), Wockhardt (up 2.93%), Mankind Pharma (up 2.92%), Alkem Laboratories (up 2.69%), Zydus Lifesciences (up 2.55%) and Aurobindo Pharma (up 1.86%) surged.
Global Market:
Dow futures rose 362 points, signalling a strong opening for US stocks.
Most Asian indices traded higher on Monday, 9 November 2026, as investors assessed the latest US market rebound, fresh economic data and the outlook for interest rates. Trading remained cautious following last week's sharp volatility in technology and semiconductor stocks. Investors also monitored developments in US-China trade relations and movements in crude oil prices.
China's inflation data released on Monday showed producer prices rising 5.7% year-on-year in October, accelerating from 5% in September. Consumer inflation slowed to 0.7% from 0.9%, while core inflation eased to 0.8% from 1%.
The data pointed to persistent cost pressures at the producer level, while subdued consumer demand continued to limit broader price increases.
US stocks ended mixed on Friday, 06 November 2026, as technology shares recovered from the previous session's sharp sell-off. The S&P 500 rose 0.31% to 7,376.86, while the Nasdaq Composite advanced 1.09% to 24,579.42. The Dow Jones Industrial Average declined 0.46% to 51,285.73.
Semiconductor and AI-related stocks led Friday's recovery. Advanced Micro Devices (AMD) surged around 11%, while Nvidia gained 2.8% and Micron Technology advanced 5.1%. Intel also climbed 7.7% as investors bought beaten-down technology stocks. IREN jumped 20% following stronger-than-expected revenue and growth in its AI cloud business.
Airbnb gained 11.7% after reporting stronger third-quarter demand and raising its full-year revenue growth outlook to the high teens. The company also lifted its adjusted EBITDA margin forecast to around 36%.
The US labour market delivered a stronger-than-expected performance in October. Non-farm payrolls increased by 165,000, against expectations of around 65,000. September's job additions were revised upwards to 60,000 from 29,000. The unemployment rate declined to 4.1% from 4.2%.
Average hourly earnings rose 0.4% month-on-month and 3.1% year-on-year. The stronger employment data reinforced expectations that the Federal Reserve could raise interest rates in December. Market-implied odds of a 25-basis-point increase rose to around 79%, compared with 71% a week earlier.
The next major US data release is the October consumer price index (CPI), scheduled for Tuesday, 10 November 2026. The reading will be important in assessing whether inflationary pressures could prompt further monetary tightening.
Brent crude futures declined in early Monday trading followed by comments from US President Donald Trump that fresh attacks on Iran were unlikely if negotiations to end the conflict continued.
Brent had fallen 17% last week, marking its steepest weekly decline since the start of the Covid-19 pandemic. However, reports of attacks on vessels near the Strait of Hormuz kept geopolitical risks in focus. Iraq also reached an understanding with the US to allow oil exports through the strait using a shipping lane near Oman.
Revenue from operations increased 23.3% YoY to Rs 1,833.6 crore from Rs 1,486.9 crore. Sequentially, revenue rose 1.8% from Rs 1,800.3 crore.
Gross profit increased 24.7% YoY to Rs 1,163.8 crore from Rs 933.1 crore. Gross profit margin remained unchanged at 63% compared with the year-ago quarter, while it declined from 65% in Q1 FY27.
EBITDA increased 53.0% YoY to Rs 480.4 crore from Rs 313.9 crore. Sequentially, EBITDA declined 2.6% from Rs 493 crore. EBITDA margin improved to 26% from 21% a year ago but declined from 27% in the previous quarter.
Adjusted EBITDA rose 49.9% YoY to Rs 503 crore from Rs 335.5 crore. Adjusted EBITDA margin improved to 27% from 23% in Q2 FY26.
Profit before tax increased 51.8% YoY to Rs 430.9 crore from Rs 283.9 crore. Sequentially, PBT declined 0.9% from Rs 435 crore.
The CDMO business reported revenue growth of 30.8% YoY to Rs 822.7 crore, while Critical Injectables revenue increased 17.8% to Rs 1,010.9 crore. The two businesses contributed 45% and 55% of consolidated revenue, respectively.
On a geographical basis, US revenue increased 42.5% YoY to Rs 1,179.5 crore, while European revenue rose 30.3% to Rs 371 crore. Revenue from Canada, Australia and New Zealand declined 18.0% to Rs 40 crore. India revenue fell 41.8% to Rs 38.7 crore, while revenue from the rest of the world declined 21.1% to Rs 204.4 crore.
Research and development expenditure stood at Rs 107.7 crore during the quarter, accounting for 6% of consolidated revenue, compared with Rs 81.7 crore in Q2 FY26.
The company launched four molecules in the US during the quarter: Sugammadex, Erythromycin, Fluorouracil and Atropine Sulfate. It filed 11 ANDAs and received 10 approvals. Its cumulative US ANDA filings stood at 399, including 350 approved and 49 pending.
The company has launched six products from its in-house complex pipeline, with three more awaiting approval. It also has 15 products under co-development, comprising seven 505(b)(2) products and eight ANDAs, with commercialisation expected to begin in FY29.
Gland Pharma has filed 24 Ready-to-Use (RTU) infusion bag products and received approvals for 18. Another eight products are under development. The portfolio addresses an estimated US market opportunity of approximately US$640 million.
Executive chairman Srinivas Sadu said revenue growth was supported by strong execution across businesses. He highlighted expanding customer engagements, strategic partnerships and a robust opportunity pipeline in the CDMO business.
The company said technology transfer activities under its CDMO partnership with a global pharmaceutical company were progressing as planned. It also secured manufacturing contracts for microspheres and respiratory products.
On the regulatory front, two manufacturing facilities underwent US FDA audits. The VSEZ facility received zero observations, while the Dundigal facility concluded its inspection in October 2026 with four procedural observations.
Gland Pharma is an injectable-focused pharmaceutical company with operations across 60 countries. It primarily follows a contract development and manufacturing (CDMO) and business-to-business (B2B) model, specialising in the development, manufacturing and marketing of sterile injectables. Its product portfolio includes vials, ampoules, pre-filled syringes, lyophilised vials, dry powders, infusions, oncology and ophthalmic solutions.
Gland Pharma has received approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application filed for Methylprednisolone Acetate Injectable Suspension USP, 40 mg/mL and 80 mg/mL Single-Dose Vials and 200 mg/5 mL (40 mg/mL), 400 mg/10 mL (40 mg/mL), and 400 mg/5 mL (80 mg/mL) Multiple-Dose Vials.
The Product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Depo-Medrol Injectable Suspension, 40 mg/mL and 80 mg/mL, of Pfizer Inc.
The Product is indicated for the treatment of Allergic States, Dermatologic Diseases, Endocrine Disorders, Gastrointestinal Diseases, Hematologic Disorders, Neoplastic Diseases, Nervous System, Ophthalmic Diseases, Renal Diseases, Respiratory Diseases, Rheumatic Disorders and Miscellaneous.
Ajay holds a bachelor’s degree in business administration from European University of Brussels, Belgium. Sahni has over 36 years of experience in FMCG & pharmaceutical industries. His expertise spans financial management, business development and general management.
Ajay in his previous leadership roles, was the managing director for Pinewood Healthcare, Ireland; managing director for Wockhardt Bio AG, Switzerland; president of Wockhardt France SAS and its subsidiaries.
He has a vast experience performing all kinds of roles including finance director, project manager- business development, director (financial control, planning and analysis), regional finance director for South and South-East Asia, president, and managing director in various companies viz., Sanofi SA, SanofiSynthelabo Inc., Sanofi-Synthelabo Pte., Ferring Pharmaceuticals, Wockhardt France SAS and multiple subsidiaries including Laboratoires Negma SAS, Wockhardt Bio AG. and Pinewood Healthcare.
Gland Pharma is a Hyderabad-based pharmaceutical company focused on generic injectables and ophthalmics. It operates in more than 60 countries under a business-to-business model and offers a broad portfolio of sterile injectable products, including vials, ampoules, pre-filled syringes, lyophilized vials, infusions, oncology and ophthalmic solutions.
The company’s consolidated net profit jumped 47.09% to Rs 316.96 crore in Q1 FY27 compared with Rs 215.48 crore in Q1 FY26. Revenue from operations climbed 19.57% YoY to Rs 1,800.27 crore in Q1 FY27.
The scrip 0.74% to settled at Rs 3097.50 on the BSE.
Gland Pharma Ltd gained for a fifth straight session today. The stock is quoting at Rs 3081.9, up 0.24% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.72% on the day, quoting at 23102.8. The Sensex is at 74685.25, up 0.72%. Gland Pharma Ltd has gained around 7.22% in last one month.
Meanwhile, Nifty Pharma index of which Gland Pharma Ltd is a constituent, has gained around 3.43% in last one month and is currently quoting at 26710.8, up 1.88% on the day. The volume in the stock stood at 89853 shares today, compared to the daily average of 3.98 lakh shares in last one month.
The PE of the stock is 35.92 based on TTM earnings ending June 26.
Gland Pharma Ltd is up for a third straight session today. The stock is quoting at Rs 3015.2, up 1.85% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.19% on the day, quoting at 22705.75. The Sensex is at 73291.61, down 0.42%. Gland Pharma Ltd has gained around 0.85% in last one month.
Meanwhile, Nifty Pharma index of which Gland Pharma Ltd is a constituent, has gained around 1.54% in last one month and is currently quoting at 26267.25, up 0.96% on the day. The volume in the stock stood at 1.19 lakh shares today, compared to the daily average of 4.37 lakh shares in last one month.
The PE of the stock is 34.6 based on TTM earnings ending June 26.
Gland Pharma Ltd dropped for a fifth straight session today. The stock is quoting at Rs 2833.6, down 0.59% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 1.24% on the day, quoting at 22406.15. The Sensex is at 72534.84, down 0.98%.Gland Pharma Ltd has lost around 2.2% in last one month.Meanwhile, Nifty Pharma index of which Gland Pharma Ltd is a constituent, has eased around 7.21% in last one month and is currently quoting at 25596.65, down 2.02% on the day. The volume in the stock stood at 2.88 lakh shares today, compared to the daily average of 4.04 lakh shares in last one month.
The PE of the stock is 33.4 based on TTM earnings ending June 26.
Gland Pharma Ltd gained for a third straight session today. The stock is quoting at Rs 3141.1, up 4.49% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.53% on the day, quoting at 22655.35. The Sensex is at 72805.99, down 0.36%. Gland Pharma Ltd has risen around 6.14% in last one month.
Meanwhile, Nifty Pharma index of which Gland Pharma Ltd is a constituent, has risen around 1.4% in last one month and is currently quoting at 26549.6, down 0.17% on the day. The volume in the stock stood at 8.23 lakh shares today, compared to the daily average of 4.76 lakh shares in last one month.
The PE of the stock is 35.13 based on TTM earnings ending June 26.
The Fed’s indication of another rate hike in 2026 is likely to keep investors cautious, particularly in rate-sensitive and foreign-portfolio-investment-driven segments. However, buying interest in select domestic sectors provided some support, the Nifty hovered above the 23,250 mark. Market participants are likely to track currency movements, US bond yields and foreign fund flows for further direction.
Pharma shares jumped after declining in the past five consecutive trading sessions.
At 13:27 IST, the barometer index, the S&P BSE Sensex jumped 51.75 points or 0.06% to 74,383.03. The Nifty 50 index added 53.65 points or 0.24% to 23,269.85.
The broader market outperformed frontline indices. The BSE 150 MidCap Index jumped 0.90% and the BSE 250 SmallCap Index rose 0.71%.
The market breadth was strong. On the BSE, 2,517 shares rose and 1,707 shares fell. A total of 235 shares were unchanged.
Trump Tariffs:
The US House of Representatives on Wednesday passed a Russia sanctions bill by 262-159 that gives President Donald Trump the power to impose tariffs of up to 100% on countries buying Russian oil and gas, directly targeting major importers such as India and China. The bill, which follows Senate approval on 7 August 2026, also expands sanctions on Russian officials, financial institutions and vessels linked to Russia's shadow fleet, while extending existing Iran sanctions by five years.
IPO Update:
National Stock Exchange of India (NSE) received bids for 2,98,19,560 shares as against 8,86,42,911 shares on offer, according to stock exchange data at 14:27 IST on 16 September 2026. The issue was subscribed 0.34 times.
The issue opened for bidding on 17 September 2026 and will close on 19 September 2026. The price band of the IPO is fixed between Rs 1,700 and 1,785 per share. An investor can bid for a minimum of 8 equity shares and multiples thereof.
Hero Motors received bids for 25,08,64,122 shares as against 8,86,07,596 shares on offer, according to stock exchange data at 14:27IST on 17 September 2026. The issue was subscribed 2.83 times.
The issue opened for bidding on 16 September 2026 and will close on 18 September 2026. The price band of the IPO is fixed between Rs 79 and 84 per share. An investor can bid for a minimum of 178 equity shares and multiples thereof.
The Nifty Pharma index jumped 1.28% to Rs 26,480.80. The index declined 2.73% in the past five consecutive trading sessions
Alkem Laboratories (up 3.36%), Gland Pharma (up 3%), Aurobindo Pharma (up 2.88%), Dr Reddys Laboratories (up 2.81%), Laurus Labs (up 2.45%), Lupin (up 2.14%), Zydus Lifesciences (up 2%), Mankind Pharma (up 1.76%), Divis Laboratories (up 1.62%) and Biocon (up 1.54%) surged.
Numbers to Track:
The yield on India's 10-year benchmark federal paper fell 0.11% to 7.047 compared with the previous session close of 7.055.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 95.9200 compared with its close of 95.9100 during the previous trading session.
MCX Gold futures for 5 October 2026 settlement fell 0.64% to Rs 1,51,493.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.04% to 100.21.
The United States 10-year bond yield fell 0.32% to 4.988.
In the commodities market, Brent crude for the November 2026 settlement declined $1.40 or 1.32% to $104.43 a barrel.
Stock in Spotlight:
Semiconductor and electronics manufacturing stocks were in demand on Thursday, 17 September 2026, as SEMICON India 2026 got underway at Yashobhoomi in New Delhi. The three-day event is being held from 17 to 19 September under the theme 'Silicon to Systems: Building the Ecosystem'
Syrma SGS Technology was the top gainer, rising 7.11%. MosChip Technologies surged 4.95%, followed by Kaynes Technology India, which gained 4.71%. Dixon Technologies advanced 1.11%, while Avalon Technologies rose 1.07%.
Prime Minister Narendra Modi inaugurated SEMICON India 2026 on Thursday. The event brings together companies, policymakers, investors, researchers, startups and academic institutions from across the semiconductor and electronics value chain. The PMO said more than 600 companies and representatives from 52 countries are participating.