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Peaks and valleys in the pharma industry-Dr.Reddy’s share rises

by 5paisa Research Team 20/10/2021

Dr. Reddy's Vascepa share gains resume
Dr. Reddy's gVascepa Rx was up 34% monthly and the market share reached 5.5%. Hikma's Rx was up by 2% and the market share touched 14%, during the last 4 months. Vascepa's share came down to 80%, the lowest till date, per the latest weekly data. Dr. Reddy increases Suboxone share: Dr. Reddy's market share in the Suboxone market had remained stable for over a year and it started to move up in July-2021.Dr. Reddy's market share reached 19.8%.

Lupin’s rise in Albuterol HFA market. 
Lupin gains 67bps in Albuterol HFA. Lupin's Albuterol HFA Rx was up 5% last month with a stable total market Rx. Lupin rose by 14.7% which is a 67bps increase. Cipla lost 25bps share. Cipla's market share loss is for the first time since the product was launched. This may indicate that the stock is nearing its peak. Lupin shoots down by 320bps in market share in Famotidine oral solution market; the market share loss was at the slowest since the competitors launched products in May. Lupin's market share stands at 74.8%. 

Semglee market share gains move up by 2%
Seamless (Biocon's Insulin Glargine) Rx was up by 2% and market share remained steady at 4%. 
Updates on other Biosimilars
Biocon's Pegfilgrastim Rx was up by 13% m/m and resulted in 93bps of market share gains however Trastuzumab Rx decreased by 18% and reduced by 185bps share. Alembic loses share in Olmesartan, gains in Valsartan Alembic's Olmesartan Rx was down 13% and reached a market share of 10.2% (down 151bps), while Valsaratan Rx was up 3% with a market share of 20.3% (+44bps). The albuterol market seems to be stabilizing. Sun's Absorica generic Rx was up 10% YoY. Sublocade Rx trend continues to move up. Dr. Reddy's Suboxone share moved up in recent weeks. Sublocade prescriptions have gradually moved up in the last few months. Alvogen lost some Suboxone market share to Dr. Reddy's in recent weeks. The latest weekly data shows Vascepa's market share at 80%.Dr. Reddy's gVascepa share gains 142bps share. Lupin continues to lose share in Famotidine but gradually. Alembic lost 151bps share in Olmesartan during last. Alembic saw a slight market share uptick in Valsartan. The Mesalamine 1.2gm market was quite stable. The Mesalamine 1.2gm market was stable. The dry-eye market was unchanged.Ilumya Rx was down by 3% m/m.Cipla's Cinacalcet Rx was steady vs the previous month. Solos prescriptions were up 6% m/m. Biocon's Semglee market share gains have stalled in the last few weeks. Biocon's Pegfilgrastim Rx up 13% m/m.Amgen lost Pegfilgrastim share to peers in the last month.Biocon Trastuzumab Rx down 18% m/m.Biocon-Viatris's Trastuzumab Rx share falls to 15.3% from 17.2%. Biocon-Viatris's market share (for August) by IQVIA sales is 5.9% in Trastuzumab. Lupin's Glumetza share is largely stable.
 

Peaks and valleys in the pharma industry-Dr.Reddy’s share rises
Dr. Reddy's Vascepa share gains resume
Dr. Reddy's gVascepa Rx was up 34% monthly and the market share reached 5.5%. Hikma's Rx was up by 2% and the market share touched 14%, during the last 4 months. Vascepa's share came down to 80%, the lowest till date, per the latest weekly data. Dr. Reddy increases Suboxone share: Dr. Reddy's market share in the Suboxone market had remained stable for over a year and it started to move up in July-2021.Dr. Reddy's market share reached 19.8%.

Lupin’s rise in Albuterol HFA market. 
Lupin gains 67bps in Albuterol HFA. Lupin's Albuterol HFA Rx was up 5% last month with a stable total market Rx. Lupin rose by 14.7% which is a 67bps increase. Cipla lost 25bps share. Cipla's market share loss is for the first time since the product was launched. This may indicate that the stock is nearing its peak. Lupin shoots down by 320bps in market share in Famotidine oral solution market; the market share loss was at the slowest since the competitors launched products in May. Lupin's market share stands at 74.8%. 

Semglee market share gains move up by 2%
Seamless (Biocon's Insulin Glargine) Rx was up by 2% and market share remained steady at 4%. 
Updates on other Biosimilars
Biocon's Pegfilgrastim Rx was up by 13% m/m and resulted in 93bps of market share gains however Trastuzumab Rx decreased by 18% and reduced by 185bps share. 
Alembic loses share in Olmesartan, gains in Valsartan 
Alembic's Olmesartan Rx was down 13% and reached a market share of 10.2% (down 151bps), while Valsaratan Rx was up 3% with a market share of 20.3% (+44bps). 
The albuterol market seems to be stabilizing. Sun's Absorica generic Rx was up 10% YoY. Sublocade Rx trend continues to move up. Dr. Reddy's Suboxone share moved up in recent weeks. Sublocade prescriptions have gradually moved up in the last few months. Alvogen lost some Suboxone market share to Dr. Reddy's in recent weeks. The latest weekly data shows Vascepa's market share at 80%.Dr. Reddy's gVascepa share gains 142bps share. Lupin continues to lose share in Famotidine but gradually. Alembic lost 151bps share in Olmesartan during last. Alembic saw a slight market share uptick in Valsartan. The Mesalamine 1.2gm market was quite stable. The Mesalamine 1.2gm market was stable. The dry-eye market was unchanged.Ilumya Rx was down by 3% m/m.Cipla's Cinacalcet Rx was steady vs the previous month. Solos prescriptions were up 6% m/m. Biocon's Semglee market share gains have stalled in the last few weeks. Biocon's Pegfilgrastim Rx up 13% m/m.Amgen lost Pegfilgrastim share to peers in the last month.Biocon Trastuzumab Rx down 18% m/m.Biocon-Viatris's Trastuzumab Rx share falls to 15.3% from 17.2%. Biocon-Viatris's market share (for August) by IQVIA sales is 5.9% in Trastuzumab. Lupin's Glumetza share is largely stable.
 

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Jindal Stainless (Hisar) commissions Phase I of brown-field expansion at speciality products division.

Jindal Stainless (Hisar) commissions Phase I of brown-field expansion at speciality products division.
by 5paisa Research Team 20/10/2021

This capacity expansion takes the total precision strip production capacity to 48,000 TPA from the existing 22,000 TPA.

Jindal Stainless (Hisar) has announced that it has commissioned 26,000 tons per annum (TPA) capacity Precision Strip Mill as part of the first phase of its latest brown-field expansion plan at its Specialty Products Division (SPD).

The capacity expansion of precision strips will further strengthen the company’s presence in segments like auto, process industry, and oil and petrochemical. It will also be augmenting supplies to aerospace and electric vehicles. This capacity expansion takes the total precision strip production capacity to 48,000 TPA from the existing 22,000 TPA. 

The total capital expenditure for the brownfield expansion is estimated at Rs 450 crore over the next two years. As part of the expansion, the company plans to increase its total precision strip capacity to 60,000 tons per annum by the end of Q2FY23 with an estimated capital expenditure of Rs 250 crore.

The capacity expansion at SPD is part of the company’s plan to leverage its leadership position in speciality and value-added products. After this expansion, the operational capability will expand and products up to 650 mm width would be manufactured. This expansion will further help the company consolidate its leadership position in the international markets as well.

Managing Director of Jindal Stainless (Hisar), Abhyuday Jindal stated in a filing with the exchange, “The latest capacity addition to JSHL’s Specialty Products Division portfolio will strengthen our product mix in the value-added segment and double our share in the global production to 8%. The capacity enhancement is expected to boost JSHL’s revenues by 8-10%.” 

Jindal Stainless (Hisar) is an integrated stainless-steel manufacturer with facilities starting from melting, casting, and hot rolling to cold rolling and other value additions. It has a melting capacity of 800,000 TPA. The company’s Specialty Product Division (SPD) caters to the high-end precision and speciality stainless steel requirements of reputed Indian and international customers. This division serves the niche requirements in thinner sections for specific applications in various stainless-steel grades.

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BSE 500: These shares gained with price volume breakout when Sensex tumbled.

BSE 500: These shares gained with price volume breakout when Sensex tumbled.
by 5paisa Research Team 20/10/2021

The stocks rising with increasing volumes can be considered to reflect a continuation of the trend.

The frontline indices tumbled on Wednesday with BSE Sensex losing 456 points and Nifty 50 slipping by 152.15 points.

BSE 500 index slipped by more than 1% on Wednesday on a closing basis. Shriram City Union Finance was the top BSE 500 index gainer, up by nearly 8%. Idea helped push the BSE Telecom index by gaining more than 7%.

The Nifty continued to trade with weakness on Wednesday, witnessing a follow-through decline. However, Nifty opened in the green. There was some minor recovery in the last few minutes of the trading session. A long bearish candle was formed in Nifty on the daily chart. This indicates a reversal in the market.

IRCTC and Deepak Nitrate featured amongst the top BSE 500 losers. IRCTC was down by more than 17% while Deepak Nitrate slipped by more than 11% on Wednesday on a closing basis. Other BSE 500 top losers on Wednesday remained Cera Sanitaryware, Navin Fluorine, Dixon Technologies, Jubilant Foods and Aarti industries.

While the overall markets remained weak there were few BSE 500 stocks that managed to outperform. Few of the BSE 500 components gained with rising volumes on a closing basis.

Here is the list of top 10 BSE 500 gainers on Wednesday that saw a price volume breakout:

  

Sr No   

Stocks   

LTP   

Price gain (%)   

Volume change (times)   

1  

Mahindra Lifespace Developers   

289.95  

7.37  

3.03  

2  

IDEA   

10.7  

7  

2.13  

3  

Shriram City Union Finance   

2368  

7.78  

2.03  

4  

CG Power   

136.85  

4.99  

1.83  

5  

Sterlite Technology   

284.7  

4.1  

2.2  

6  

Bharti Airtel   

708.1  

3.96  

2.59  

7  

Equitas Holdings   

127.4  

3.49  

1.58  

8  

Balmar Lawrie   

133.5  

3.05  

6.65  

9  

Vinati Organics   

2061.15  

2.79  

1.79  

10  

SBI   

501.2  

2.66  

1.67  

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Top 10 Small-cap losers.

Top 10 Small-cap losers.
by 5paisa Research Team 20/10/2021

In the last two days, Nifty Small-cap 100 has seen a sharp cut. It is down by almost 6% from its recent high.

The small-cap stocks are one of the best performers in all the trailing periods in the last eighteen months. In March 2020, the market slipped down very sharply due to coronavirus concerns and subsequent lockdown. Small-cap stocks that were not doing well were the ones most affected by the downfall of the market.

Investors who saw the courage and invested or entered during downfall were the ones who are earning maximum profits as small-cap stocks are on average giving return in triple-digit.

Nevertheless, in the last two days, Nifty Small-cap 100 has seen a sharp cut. It closed at 11,202.10 in today’s trade and is down by almost 6% from its recent high. From March 2020 to October 2021 Nifty Smallcap 100 has increased by almost 235%. In the recent fall, the stocks that are supporting the index up are IRB Infra, Sterlite Techno, Indian Bank, Tanla Platforms and CDSL. IRB Infra and Sterlite Techno are up by 3.89% at Rs 212.2 and 3.42% at Rs 282.82 respectively, which closed in the green mark in today’s trade. Stocks pulling down the Nifty Small-cap Index are listed below in the table.

The index opened 15.5 points higher than the previous close, the day high on 20th October 2021 is 11,496.65 whereas, day's low is 11,122.35.

List of top 10 stocks of Nifty Smallcap 100 which were hit severely in two-day fall and closed red in today’s trade: 

Company Name  

High   

Low  

Last price  

Previous Close  

Change  

Change%  

Rallis India  

295  

279.90  

282.45  

304.10  

-21.65  

-7.12%  

Balrampur Chini Mills  

370.25  

330.05  

344.30  

369.90  

-25.75  

-6.96%  

Bajaj Electricals   

1279.75  

1150.00  

1188.15  

1273.75  

-85.6  

-6.72%  

Chambal Fertilisers and Chemicals  

369.00  

334.00  

343.10  

367.60  

-24.5  

-6.66%  

IEX  

844.00  

756.55  

789.45  

845.35  

-55.9  

-6.61%  

PNB Housing Finance  

570.00  

547.65  

547.65  

576.45  

-28.8  

-5.00%  

Amber Enterprises India  

3635.75  

3335.00  

3428.20  

3602.20  

-174  

-4.83%  

Carborundum Universal  

  

876.00  

825.00  

835.70  

876.15  

-40.45  

-4.62%  

Sonata Software   

1024.90  

899.00  

917.65  

961.20  

-43.55  

-4.53%  

KEI Industries   

993.00  

922.45  

985.80  

942.55  

-43.25  

-4.39  

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Craftsman Automation still a good buy? Brokerage houses predict 40.87% upside, price target of Rs.3055

by 5paisa Research Team 20/10/2021

Craftsman Automation, founded in 1986 in Coimbatore, has become one of the leading names in precision manufacturing in various fields and engineering organization.

It is expected that the demand and sales of medium and heavy commercial vehicles along with two-wheeler will increase in FY22 as there is an upward trend seen in the economic activity as well as easing of lock-down rules and this would in-turn lead to a strong economic growth. The M& HCV are estimated to show a turn for the better in FY23. Even though the scarcity of semiconductors still pose a problem and creates challenges for the passenger car productions, the slack will be taken up by growth in the other areas mentioned. Analysts expect a growth of 17% in FY22 and 24% in FY23.

Key points in Q2 report:

1. The Stellantis order won by Craftsman worth Rs.2 billion will begin at the end of FY23.

2. The company also won a first of its kind order for tractor transmissions.

3. A decision to replace machines has been made which will help in n increasing productivity and efficiency.

The Net Income of the company saw a drastic increase from Rs.367 million in FY20 to Rs.968 million in FY21. According to analysts, this uptrend is going to continue and estimated Net Income of Rs.1575 million has been estimated for FY22.

The amount of profits are also estimated to increase given the investment in newer machines which will lead to higher and more efficient productivity, and also duet to the better storage solutions implemented by the company.

A revenue growth of 54.03% was reported in the second quarter of FY22 and the revenue was 31.21% higher than the June quarter of FY22. The highest revenues were recorded in the Automotive Powertrain vertical, standing at Rs.292 crore. The PAT also rose by 118.83% YoY compared to the quarter ended September 2020.

The Earnings per share value of the company stood at Rs.23.65 as compared to Rs.11.35 in the same quarter of FY21 and RS.11.39 in the previous quarter of FY22, leading to a 107.64% QoQ uptrend. The inventory days have shown an increasing trend since FY19 and a further increase is expected by 11.67%. A higher inventory days value shows how that the company is not able to turn their inventory into sales at the rate at which it was before. This can be attributed to the pandemic and shortage of supplies currently.

Mutual funds in totality have increased their holdings from 7.64% to 8.24% in Q2 of FY22 and so have the FII and FPI.

A 74% growth in earnings as well as a 20% Revenue CAGR for FY21-23 has been predicted by analysts.

A BUY call has been given for the share of this company by many brokerage firms with the price target set at Rs.3055.

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Difficult quarter for Rallis India, profit declines 31.4% QoQ

by 5paisa Research Team 20/10/2021

Rallis India, a subsidiary of Tata Chemicals, focuses on the Farm essentials vertical. Rallis is one of the top crop care companies in the country and covers more than 80% of India’s districts.

According to the Q2 FY21 results, the company reported a 32.53% YoY decline in consolidated PAT to Rs.564 million from the corresponding quarter, last year; and a 31.4% decline QoQ.

A very small growth of 0.4% was shown in the Revenue, standing at Rs.7278 million from Rs.7250 million in Q2 FY21. The EBITDA Margin fell by 420bps, from 16.1% to 12.1% which indicates that Rallis is not able to pass on the increasing costs it is facing to its customers by proportionately increasing the prices. The employee costs and other expenses have shown an increase of 13.8% and 8.4% YoY, respectively.

The shortcomings in the report can be mainly attributed to the fact that the un-seasonal and late monsoons this year, destroyed crop quality and was also not in the least favorable to agri input companies in this quarter. The seed business saw a sharp decline of 65% due to the changing patterns of cropping all over the country. The raw material problems are proving to be an additional burden on the company and preventing optimum operational efficiency and growth.

Looking on the positive side, during this September ending quarter, the company has launched three new products under the heads- crop protection and crop nutrition. Also, the Ankleshwar project of debottlenecking for two A.Is was commissioned.

After the Q2 results were announced, the share price of the company dipped sharply by 7.12% on the National Stock Exchange. It opened at Rs.287 which is at a high discount to its closing price on 19th October i.e. Rs.304.

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