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BSE Healthcare index touches new yearly low at 12,513 points

Sanjay Pingle, Mumbai
Saturday, August 12, 2017, 08:00 Hrs  [IST]

BSE Healthcare index of 68 major pharmaceutical and healthcare companies, moved southward during the last one month and reached at its new low at 12,513.13 points on August 11, 2017 and closed at 12,807.82 points. Almost all pharma shares hit by poor financial performance during the full year 2016-17 and the same trend continued in the first quarter ended June 2017. The financial year 2017-18 will be challenging one for the pharmaceutical segment due to GST implementation, quality problems and competition. Further, exchange rates, global change in government policies and lower outcome from R&D activities are likely to put additional burden on Indian pharma players.

Several prominent scrips declined on August 11, 2017 as compared to share prices of June 30, 2017. Ajanta Pharma, Dr Reddy's Laboratories, Granules India, Ipca Laboratorieis, Kopran, Lupin, Morepen Labs, Natco Pharma, Nectar Lifesciences, RPG Lifesciences and Sun Pharmaceutical declined over 10 per cent. Out of 68 BSE Healthcare companies, the share price of 54 companies declined during this period and small gains recorded by other companies. Several companies market prices are moving around their lowest level.

Sun Pharma scrip of Re one each declined sharply during last one month and touched to its yearly lowest level at Rs.445.05 on August 11, 2017. Dr Reddy's Laboratories also declined and reached at its lowest level at Rs.1,935, followed by Glenmark (Rs.592), Ipca Labs (Rs.400), Wockhardt (Rs.538.05), Marksans (Rs.35.75), Nectar Life (Rs.24), Morepen Labs (Rs.14.80) and Novartis (Rs.579). Other shares like Opto Circut and Ortin Labs also touched to their lowest level during June and August 2017.

The financial performance of pharma companies was under tremendous pressure during 2016-17 and the first quarter ended June 2017. The net profit of Dr Reddy's Laboratories, Ajanta Pharma, Alembic Pharma, Aurobindo Pharma, Biocon, GlaxoSmithKline, Jubilant Lifesciences and Torrent Pharma declined significantly during the first quarter ended June 2017 which impacted their share price. Further, Sun Pharma, Wockhardt and Indoco Remedies incurred net loss as against net profit in the similar quarter of last year. However, Glenmark Pharma, Natco Pharma, Piramal Enterprises and Cipla posted strong growth in top line and bottom line.

 

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