Category: Personal Finance

Resignation of Bharat Fin CEO, CFO under board consideration: IndusInd

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IndusInd Bank also informed the exchanges about the resignation of Ashish Damani, executive director and chief financial officer at BFIL.

IndusInd Bank on Monday said managing director (MD) and chief executive officer (CEO) of its wholly owned subsidiary Bharat Financial Inclusion (BFIL) Shalabh Saxena resigned on November 25. The private bank, however, said the board of BFIL had deferred consideration of the decision to relieve him from services till completion of an ongoing review. IndusInd Bank also informed the exchanges about the resignation of Ashish Damani, executive director and chief financial officer at BFIL.

“Both the employees have offered their assistance in the ongoing review of transactions related to BFIL, for which the bank has appointed a renowned international audit firm to conduct independent review and ascertain veracity of the anonymous complaints,” the notice said.

Meanwhile, IndusInd Bank has nominated J Sridharan as the executive director on the board of BFIL and appointed Srinivas Bonam to oversee the day-to-day functioning of BFIL. MR Rao will continue to act as an advisor to BFIL, according to the notice. The lender has also appointed KV Rao as an advisor for strengthening the field process.

The boards of Spandana Sphoorty and IndusInd Bank have been engaged in a tussle in recent weeks over appointment of key managerial personnel. While Spandana Sphoorty had issued a press release on November 22 naming Saxena its new chief and Damani as the president and CFO of the company, IndusInd Bank issued a clarification the following day saying both Saxena and Damani were yet to resign from BFIL.

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Small Cap Company Stock To Watch Out After Dolly Khanna Ups Stake

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Investment

oi-Roshni Agarwal

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As per bulk deals data on the BSE, ace investor Dolly Khanna seems bullish on the scrip of Simran Farms and has bought stake in the firm twice in the last 1-week. Khanna today bought 19642 shares at a price of Rs. 167.96 per share. While the scrip in today’s trade (November 29, 2021) settled at a price of Rs. 173.45 per share, hitting 5 percent upper circuit on the BSE. The scrip is not traded on the NSE.

Small Cap Company Stock To Watch Out After Dolly Khanna Ups Stake

Small Cap Company Stock To Watch Out After Dolly Khanna Ups Stake

On November 24, 2021 also, Khanna bought 22,344 shares in the scrip at a price of Rs. 135.19 apiece.

The competitive strength as highlighted are the company’s increasing net cash flow and cash from operating activity. In a 1-year period the scrip has generated return of 160%, while on a year to date basis, the stock’s return are at 150%.

The small cap company, founded in the year 1984, turned into a public limited company in the year 1993. Indore, MP based company is committed to providing nutritional poultry products.

In the recently concluded September quarter of Fy 22, the company’s income from operations surged QoQ to Rs. 112.44 crore, while net profit declined to Rs. 3.07 crore as against Rs. 5.69 crore in the June ended quarter.

Some of the company’s listed peers include Venkys, Uniroyal Marine and Ovobel Foods among others.

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Story first published: Monday, November 29, 2021, 23:35 [IST]



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2 Pharma Stocks To Buy For Short Term For Potential Upside Up To 17%: ICICI Direct

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1. Biocon: Buy Biocon for 3 months for a target of Rs. 425

ICICI Direct suggest to ‘Buy’ Biocon for a price target of Rs. 425 per share for a 3 month investment horizon. The stop loss recommended is Rs. 327. This implies potential investors into the scrip of Biocon considering the last traded price of Rs. 364.4 apiece can earn returns of 16.76 percent.

Note the brokerage has listed Biocon as its Quant pick and recommends the buy in the scrip of Biocon in the price range of Rs. 360-368.

Brokerage’s take on the pharma sector

The pharma space has witnessed healthy consolidation in the last couple of weeks amid a broader market movement. “We believe the sector is set to resume its next round of upside move”, says the brokerage.

View on Biocon scrip as put by ICICI Direct

The open interest in Biocon is continuously declining. We believe the stock should resume its upward momentum in the near term on the back of continued short covering.

The open interest in Biocon has been declining gradually in the last couple of months. The current open interest in the stock is one of the lowest in the current calendar year and the stock has been trading with a positive bias. We believe short positions are getting closed and continued short covering is expected, which should prompt further up move in the stock.

On the options front, the stock has the highest Call option base at the 370 strike. As the stock is trading near this levels, closure of positions is evident at ATM strikes and positions are moving at higher OTM strike. We expect continued upsides in the stock in the coming sessions.

“After its quarterly results the stock of Biocon has performed relatively well compared to most pharma stocks and declines were used to accumulate further. Significant delivery based buying was observed in the stock in the range of Rs. 350-360 in the November series. We expect these levels to act as major support for the stock in coming weeks the coming weeks.

Biocon has been consolidating below its long term mean levels for almost a year. Also, considering ongoing delivery based activity, we believe it may surpass its mean levels currently near Rs.375. In such a scenario, stock movement towards its mean+1*sigma levels is expected in the coming weeks”, adds the brokerage.

2. Cipla: Buy Cipla for a target price of Rs. 1060

2. Cipla: Buy Cipla for a target price of Rs. 1060

As its Gladiator stock pick, the brokerage house has advised to buy the scrip of Cipla in the price range of Rs. 935-950. The target price set out for the stock is Rs. 1060, implying an upside of 11.58 percent from the scrip’s last traded price of Rs. 965. Stop loss suggested for the investment is Rs. 888. Remember duration for the buy in the scrip is again 3 months.

On the pharma index, the brokerage firm said that the index took a breather over the last 3 months after having shown outperformance during CY 2020-21.

Cipla showed resilience wherein it consolidated in a broader range (Rs. 1000-870) while sustaining above 200 day’s EMA. Currently, it staged strong buying demand from the lower band of consolidation. Hence, it offers a fresh entry opportunity with favourable risk reward.

Key observation on Cipla

“The stock has shown faster retracement on the smaller degree chart as it retraced past six week’s consolidation in just a single week highlighting robust price structure that augurs well for the next leg of up move. We expect the stock to resolve higher and gradually head towards our target of Rs. 1060 in the coming month as it is the 138.2% external retracement September-November decline (Rs.1005-883). On the oscillator front, weekly RSI has generated a buy signal moving above its nine period’s average, indicating positive bias”, adds the brokerage.

Disclaimer:

Disclaimer:

The stocks listed are taken from the brokerage report of ICICI Direct. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.

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List Of Mutual Fund NFOs Currently Open For Subscription

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1. Mirae Asset Hang Seng Tech ETF FoF:

The scheme aims to offer long term capital appreciation by investing primarily in units of Mirae Asset Hang Seng Tech ETF. The open ended scheme offer period is between November 17, 2021 and December 1, 2021. Minimum subscriptoon amount under the scheme is Rs. 5000 and in multiples of Rs. 1/- thereafter.

Post the NFO period, being an open ended scheme, the scheme shall be open for fresh subscriptions beginning December 9, 2021 at the NAV prevalent at that time. Note during the NFO period, the NAV shall remain Rs. 10.

Among its peers, Motilal Oswal NASDAQ 100 ETF commands the largest AUM of Rs. 5700 crore and its returns have also been promising with 5-year return of 29.13%.

2. Nippon India Taiwan Equity Fund:

2. Nippon India Taiwan Equity Fund:

This open ended equity scheme from the stable of Nippon India AMC follows a Taiwan focused theme. The fund is one of its kind diversification opportunity into Taiwan which is among world leaders in science and tech and hence commands the second-highest weight in the MSCI Emerging Markets Index and ranked 8th in IMD World Digital Competitiveness Ranking, 2021.

The NFO which opened on November 22 will close on December 6, 2021.

Minimum application amount : Rs. 500 & in multiples of Re. 1 thereafter; while the benchmark is Benchmark is Taiwan Capitalization Weighted Stock Index (TAIEX).

3. Axis Multicap fund:

3. Axis Multicap fund:

Labelling it the #Powerpackedfund”, the scheme shall invests across market capitalisation and hence provide investors with exposure to large, mid and small cap stocks.

NFO period – November 26-December 10, 2021

As per the mutual fund, the investment shall be apt for those looking for capital appreciation over the long term and looking to invest in a mix of equity securities across m-cap.

Disclaimer:

Disclaimer:

The above mentioned NFOs are not a call for investment in them but as is being seen NFOs are raking in huge money and providing a boost to mutual fund investment landscape as a whole. So, here is collated information on all the NFOs that are currently open.

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ICICI Bank Revises Interest Rates On FD: Check Latest Rates Here

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ICICI Bank FD Rates

With effect from 16th November 2021, ICICI Bank has revised its interest rates on domestic term deposits of less than Rs 2 Cr maturing in 7 days to 10 years. Following the most recent revision, the general public will now get the following interest rates on their fixed deposits.

Tenure Interest rates (p.a.) for deposits of less than Rs 2 Cr. Interest rates (p.a.) for deposits of Rs. 2 Cr and above less than Rs. 5 Cr
7 days to 14 days 2.50% 2.75%
15 days to 29 days 2.50% 2.75%
30 days to 45 days 3.00% 3.00%
46 days to 60 days 3.00% 3.00%
61 days to 90 days 3.00% 3.15%
91 days to 120 days 3.50% 3.15%
121 days to 150 days 3.50% 3.15%
151 days to 184 days 3.50% 3.15%
185 days to 210 days 4.40% 3.65%
211 days to 270 days 4.40% 3.65%
271 days to 289 days 4.40% 3.90%
290 days to less than 1 year 4.40% 3.90%
1 year to 389 days 4.90% 4.05%
390 days to 4.90% 4.05%
15 months to 4.90% 4.15%
18 months to 2 years 5.00% 4.25%
2 years 1 day to 3 years 5.15% 4.50%
3 years 1 day to 5 years 5.35% 4.70%
5 years 1 day to 10 years 5.50% 4.70%
5 Years (80C FD) 5.35% NA
Source: Bank Website. W.e.f. November 16, 2021 W.e.f. November 29, 2021

ICICI Bank FD Rates For Senior Citizens

ICICI Bank FD Rates For Senior Citizens

Senior citizens will continue to get an additional rate of 0.50% over and above the card rate applicable to the general public across all tenors. On the other hand, ICICI Bank also offers a special fixed deposit scheme to senior citizens named ICICI Bank Golden Years FD. Under this scheme, senior citizens would get an additional interest rate of 0.30% per annum on their deposits maturing in 5 years and up to 10 years.

The effective interest rate under the scheme would be an additional 0.30 percent per annum over and above the prevailing additional rate of 0.50 percent per annum on single deposits of less than Rs. 2 crores made by a resident Indian senior citizen for a limited time till 8th April 2022. Here are the latest interest rates on fixed deposits of ICICI Bank for senior citizens.

Tenure Interest rates (p.a.) for deposits of less than Rs 2 Cr. Interest rates (p.a.) for deposits of Rs. 2 Cr and above less than Rs. 5 Cr
7 days to 14 days 3.00% 2.75%
15 days to 29 days 3.00% 2.75%
30 days to 45 days 3.50% 3.00%
46 days to 60 days 3.50% 3.00%
61 days to 90 days 3.50% 3.15%
91 days to 120 days 4.00% 3.15%
121 days to 150 days 4.00% 3.15%
151 days to 184 days 4.00% 3.15%
185 days to 210 days 4.90% 3.65%
211 days to 270 days 4.90% 3.65%
271 days to 289 days 4.90% 3.90%
290 days to less than 1 year 4.90% 3.90%
1 year to 389 days 5.40% 4.05%
390 days to 5.40% 4.05%
15 months to 5.40% 4.15%
18 months to 2 years 5.50% 4.25%
2 years 1 day to 3 years 5.65% 4.50%
3 years 1 day to 5 years 5.85% 4.70%
5 years 1 day to 10 years 6.30% 4.70%
5 Years (80C FD) 5.85% NA
Source: Bank Website. W.e.f. November 16, 2021 W.e.f. November 29, 2021

ICICI Bank NRO & NRE Deposits Interest Rates

ICICI Bank NRO & NRE Deposits Interest Rates

ICICI Bank has also updated its interest rates on domestic, NRO, and NRE deposits of Rs 5 crore and above with a premature withdrawal facility, which entered into force on November 29, 2021.

Tenure Rs 5 Cr to Rs 5.10 Cr to Rs 24.90 Cr to Rs 25 Cr to Rs 100 Cr to Rs 250 Cr to More than Rs 500 Cr
7 days to 14 days 2.75 2.75 2.75 2.75 2.75 2.75 2.75
15 days to 29 days 2.75 2.75 2.75 2.75 2.75 2.75 2.75
30 days to 45 days 2.75 3 2.75 3 3 3 3
46 days to 60 days 2.75 3 2.75 3 3 3 3
61 days to 90 days 2.85 3.15 2.85 3.15 3.15 3.15 3.15
91 days to 120 days 2.85 3.15 2.85 3.15 3.15 3.15 3.15
121 days to 150 days 2.85 3.15 2.85 3.15 3.15 3.15 3.15
151 days to 184 days 2.85 3.15 2.85 3.15 3.15 3.15 3.15
185 days to 210 days 3 3.65 3 3.65 3.65 3.65 3.65
211 days to 240 days 3 3.65 3 3.65 3.65 3.65 3.65
241 days to 270 days 3 3.65 3 3.65 3.65 3.65 3.65
271 days to 300 days 3 3.9 3 3.9 3.9 3.9 3.9
301 days to 330 days 3 3.9 3 3.9 3.9 3.9 3.9
331 days to 3 3.9 3 3.9 3.9 3.9 3.9
1 year to 389 days 3.25 4.05 3.25 4.05 4.05 4.05 4.05
390 days to 3.25 4.05 3.25 4.05 4.05 4.05 4.05
15 months to 3.25 4.15 3.25 4.15 4.15 4.15 4.15
18 months to 2 years 3.25 4.25 3.25 4.25 4.25 4.25 4.25
2 years 1 day to 3 years 3.25 4.5 3.25 4.5 4.5 4.5 4.5
3 years 1 day to 5 years 3.25 4.7 3.25 4.7 4.7 4.7 4.7
5 years 1 day to 10 years 3.25 4.7 3.25 4.7 4.7 4.7 4.7
Rate of Interest (% p.a.) w.e.f November 29, 2021



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SBI enters co-lending agreement with Capri Global Capital Ltd, BFSI News, ET BFSI

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State Bank of India has entered into a co-lending agreement with Capri Global Capital Ltd (CGCL) to boost MSME lending. The two parties have signed a Memorandum of Understanding to create multiple co-lending opportunities for the financial empowerment of the MSMEs, which aims to provide further impetus to financial inclusion in the country, the bank said in a release.

Dinesh Khara, Chairman, SBI said, “To improve the credit to the underserved and unserved, we are happy to associate with Capri Global Capital. We believe this collaboration will provide the nimble footedness of NBFC and quality credit to the right set of the population which will further deepen lending to MSMEs through the last mile connect.”

RBI had issued guidelines on the co-lending scheme for banks and NBFCs for priority sector lending to improve the flow of credit to unserved and underserved sectors of the economy, and make funds available to borrowers at an affordable cost.

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7 Intraday Cash Buy/Sell Recommendations Of Angel Broking

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Investment

oi-Roshni Agarwal

|

Angel One previously known as Angel Broking is the largest independent full-service retail brokerage firm. The firm based on its proprietary research aims to provide exhaustive and accurate data to every online share trader. Likewise, it comes up with stock recommendations for intra-day trade as well as long term picks.

7 Intraday Cash Buy/Sell Recommendations Of Angel Broking

7 Intraday Cash Buy/Sell Recommendations Of Angel Broking

For today i.e. November 29, 2021, after the markets have recovered some of the last week’s whopping losses to the tune of 4% on the Sensex, are trading on a positive note. Sensex at around 12:49 pm traded firm with gains of over 400 points, while Nifty is at 17,128 points.

Here are the intra-day buy and sell recommendations of Angel Broking:

Intraday Cash Buy ideas

Apollo Hospitals: Buy Apollo Hospitals in the price range of Rs. 5787-5795 for a target price of Rs. 6042. Stop loss suggested for the trade is Rs. 5648.7

HCL Tech: Buying price range -Rs. 1132-1133 for a target price of Rs. 1195 with a SL of Rs. 1100

Power Grid: Buy Power Grid at the rate of Rs. 201.45-202.45 for a target of Rs. 210. Stop loss given for the suggested trade is Rs. 197.8

Pfizer: Buying initiation range @ Rs. 5380-5390; target price – Rs. 5600. Stop loss – Rs. 5275

IndiaMart: Buy IndiaMart for a price target of Rs. 7527 in the price range of Rs. 7302-7307, SL- Rs. 7177.

Reliance Industrial Infra: For a price target of Rs. 729, buy this scrip in the range of Rs. 694.1-696.1; SL- Rs. 677

Intraday Cash Sell ideas:

Power Finance Corporation: Sell PFC @ Rs. 117.7-118.7 for a target of Rs. 114; SL- Rs. 119.9

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“BUY” This Mid Cap Auto Stock With A Target Price of Rs. 2000: HDFC Securities

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Q2FY22 results of Escorts Ltd

According to the brokerage “Escorts reported a subdued set of numbers in Q2FY22 as irregular and uneven rainfall impacted demand for tractors. Operating income stood at Rs 1662cr, growing marginally. Agri Machinery revenues decreased 6% YoY to Rs 1241 due to a 14% YoY decline in tractor volumes offset partially by an improved realisation of 9% to Rs 5.9 lakh/unit. Construction Equipment(ECE) division revenue surged 58% YoY to Rs 249cr, as sales volume increased 31% to 1074 units. Railway Equipment Division (RED) recorded a topline of Rs 170cr vs. Rs 160cr in Q2FY21.”

The brokerage in its research report has claimed that the company’s “EBITDA fell 30% YoY to Rs 210cr while EBITDA margin contracted 570bps to 12.6% on account of the adverse impact of rising commodity prices, negative operating leverage, and low volumes. The company reported a PAT of Rs 177cr, a decline of 23% YoY. For the month of Oct, its exports business recorded a robust sales growth of 58% YoY to 765 units v/s 484 in Oct’21. However, in the domestic market, there was a decline of 3%. The sales volume for the domestic business for the month of October stood at 12749 v/s 13180 in Oct’21. Escorts Construction Equipment sales grew by 15.8% in Oct’21. It sold 462 machines, as against 399 machines sold in Oct/20.”

Key triggers for future performance according to HDFC Securities

Key triggers for future performance according to HDFC Securities

The brokerage has reported that “The Board of Escorts approved a preferential allotment of 93.6 lakh shares to Japan’s Kubota Corporation at Rs 2000/share for a total consideration of Rs 1873cr. This would trigger an open offer by Kubota for a 26% stake in Escorts. Assuming that the open offer is successful and the entire treasury shares (held in Escorts Benefit & Welfare trust) are cancelled Kubota would have a 53.5% stake in the company, which could further increase as it evaluates to merge its two JVs in India with Escorts. The Board also proposed to increase the limit on the maximum number of directors of the Company from 15 to 18 as it plans to have four directors nominated by Kubota (from two currently), four nominated by the promoters and eight independent directors.”

HDFC Securities has also commented in its research report that “Investors looking for short-term gain can buy the stock at a current price of ~Rs 1820. The acceptance ratio of shares in the open offer can be between 60-100% vs the theoretical ratio of 51%. As per the Sep-2021 shareholding pattern, FIIs hold a 21.5% stake in the company, DII holds a 7.6%, HNIs (upto Rs 2 lakh nominal value) hold 7.2% and other retail shareholders hold 12.7% stake. We expect institutions could tender 40- 50% of their holdings and the overall acceptance ratio to be between 75-85%. Existing Promoter i.e. the Nanda Family are not selling any shares and continues to remain fully invested in the Company. Assuming that the open offer is completed in 3 months and there is full acceptance of shares, an investor can earn an annualized return of ~40%.”

“We continue to remain bullish on the prospects of the company over the medium term and even if the price falls post the open offer investors need not panic and can continue to hold on to the stock given the MNC pedigree. Kubota’s plan to acquire a majority stake in Escorts lends credence to its commitment to this partnership. Kubota is likely to leverage India’s low-cost base in sourcing products like farm implements, construction equipment and components which could drive strong growth for Escorts in the medium to long term” said HDFC Securities.

Buy Escorts Ltd with a target price of Rs. 2000

Buy Escorts Ltd with a target price of Rs. 2000

According to the brokerage’s call “The company continues to be net debt-free with sufficient available liquidity for growth. Also, the Kubota induction as a majority promoter and outlook of recovery in railway/construction space is encouraging. We expect Escorts Revenue/EBITDA/PAT to grow at 9/6/6% CAGR over FY21-FY24, led by improvement in domestic volumes and increased exports. At the current price, the stock trades at 18.6x Sep-23 EPS estimate which is not expensive given its strong medium term prospects post-Kubota becoming the majority stakeholder.”

“We believe investors can buy the stock in the band of Rs 1800-1830 and add on dips to Rs 1650-1680 band (17x Sep-23E EPS) for a base case fair value of Rs 2000 (20.5x Sep-23E EPS) over the next 2 quarters. Investors can offer their shares in the open offer expected over the next few months at Rs 2000. Post the completion of the offer we expect the stock price to react downwards, but over the medium term, the open offer price may be exceeded” the brokerage claimed.

Disclaimer

Disclaimer

The stock has been picked from the brokerage report of HDFC Securities Limited. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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Motilal Oswal Recommends To ‘Buy’ This Pharma Stock For +30% Upside, While The Equity Market Is Down For Omicron Coronavirus

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Target Price

Target Price

The Current Market Price (CMP) of Solara Active Pharma is Rs. 1169. The brokerage firm, Motilal Oswal has estimated a Target Price for the stock at Rs. 1520. Hence the stock is expected to give a 30% return, in a Target Period of 1 year.

Stock Outlook
Current Market Price (CMP) Rs. 1169
Target Price Rs. 1520
1 year returns 30.00%

Company performance

Company performance

The company’s sales stood at Rs. 16.2 b, in FY 2021, and Motilal Oswal is expecting Rs. 23.6 b sales in FY22 and Rs. 27.5 b sales in FY 23. on the other hand, adjusted PAT was Rs. 2.2 b in FY 21; the firm is anticipating Rs. 3.6 b PAT in FY 22, and a Rs. 4.5 b PAT in FY 23. On account of reduced demand, Ibuprofen prices had corrected by 20-25% over the past 5-6 months, affecting the operating margins from this product. However, prices at the API level are now stable.

Comments by Motilal Oswal

Comments by Motilal Oswal

Maintaining a buy rating Motilal Oswal said, “SOLARA is progressing well on building a niche product pipeline and broadening its presence in the regulated and ROW markets.” The brokerage firm added, “Additionally, SOLARA is progressing well on ramping up the production of Isobutyl Benzene, a key RM used in the manufacturing of Ibuprofen. This would offset the drop in profitability, to some extent, over the near-to#medium term.”

About the company

About the company

Solara Active Pharma Sciences is a dynamic, entrepreneurial, and customer-oriented API manufacturer. They have 140+ scientists working at their 2 R&D Centers, and 5 API manufacturing facilities armed with global approvals and 2 dedicated R&D facilities.

Disclaimer

Disclaimer

The above stock was picked from the brokerage report of Motilal Oswal. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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Motilal Oswal Recommends To ‘Buy’ This Pharma Stock For +30% Upside, While The Equity Market Is Down For Omicron Coronavirus

Personal Finance

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Target Price

The Current Market Price (CMP) of Solara Active Pharma is Rs. 1169. The brokerage firm, Motilal Oswal has estimated a Target Price for the stock at Rs. 1520. Hence the stock is expected to give a 30% return, in a Target Period of 1 year.

Stock Outlook
Current Market Price (CMP) Rs. 1169
Target Price Rs. 1520
1 year returns 30.00%

Company performance

Company performance

The company’s sales stood at Rs. 16.2 b, in FY 2021, and Motilal Oswal is expecting Rs. 23.6 b sales in FY22 and Rs. 27.5 b sales in FY 23. on the other hand, adjusted PAT was Rs. 2.2 b in FY 21; the firm is anticipating Rs. 3.6 b PAT in FY 22, and a Rs. 4.5 b PAT in FY 23. On account of reduced demand, Ibuprofen prices had corrected by 20-25% over the past 5-6 months, affecting the operating margins from this product. However, prices at the API level are now stable.

Comments by Motilal Oswal

Comments by Motilal Oswal

Maintaining a buy rating Motilal Oswal said, “SOLARA is progressing well on building a niche product pipeline and broadening its presence in the regulated and ROW markets.” The brokerage firm added, “Additionally, SOLARA is progressing well on ramping up the production of Isobutyl Benzene, a key RM used in the manufacturing of Ibuprofen. This would offset the drop in profitability, to some extent, over the near-to#medium term.”

About the company

About the company

Solara Active Pharma Sciences is a dynamic, entrepreneurial, and customer-oriented API manufacturer. They have 140+ scientists working at their 2 R&D Centers, and 5 API manufacturing facilities armed with global approvals and 2 dedicated R&D facilities.

Disclaimer

Disclaimer

The above stock was picked from the brokerage report of Motilal Oswal. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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