Update on Indian equity market:
\nOn Thursday, the Nifty50 touched an all-time high before closing flat at 13,982 on the penultimate trading day of 2020. Surprisingly, the index has given 15% returns in a year where the world was struggling with the pandemic, the best since 2017! Within the index, HDFC (1.3%), SUN PHARMA (1.1%), and DIVISLABS (1.0%) led the gainers while SHREECEM (-2.4%), TCS (-1.5%), and ULTRACEMCO (-1.4%) were the highest losers. Among the sectoral indices, REALTY (1.2%), MEDIA (0.9%), and METAL (0.7%) led the gainers offset by PSU BANK (-0.5%), FMCG (-0.4%), and IT (-0.3%).
\nExcerpts of an interview with Mr. Srinivas Sadu, Managing Director and CEO, Gland Pharma Ltd (Gland) published on CNBC-TV18 dated 30th December 2020:
\nThe business model of Gland is focused on B2B (Business to Business) in over 60 countries and the company will focus on growing in the same space.
\nHe said that the order book is strong for the next year. The company has also planned several launches to aid in growth. The year 2020 was different as the product mix was different due to the pandemic.
\n1QFY21 was affected due to the pandemic. The company managed to sell a lot of ICU related products in the US and other markets.
\nThe company has a strong presence in anti-infectives. 30% of the revenues are contributed by this segment. The company also has 20-30% of the APIs (Active Pharmaceutical Ingredient) backward integrated.
\nAs a part of the growth strategy, the company is not shying away from mergers and acquisitions provided that it has to fit in the growth strategy of the company.
\nConsensus Estimate: (Source: market screener and investing.com website)
\nThe closing price of Gland was \u20b9 2,380\/- as of 31-Dec-2020. It traded at 39x\/ 32x\/ 26x the consensus EPS estimate of \u20b9 61\/ 74\/ 93 for FY21E\/ FY22E\/ FY23E respectively.
\nThe consensus target price of \u20b9 2,330\/- implies a P\/E multiple of 25x on FY23E EPS of \u20b9 93.
\nDisclaimer: \u201cThe views expressed are for information purposes only. The information provided herein should not be considered as investment advice or research recommendation. The users should rely on their own research and analysis and should consult their own investment advisors to determine the merit, risks, and suitability of the information provided.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Update on Indian equity market: On Thursday, the Nifty50 touched an all-time high before closing flat at 13,982 on the penultimate trading day of 2020. Surprisingly, the index has given 15% returns in a year where the world was struggling with the pandemic, the best since 2017! Within the index, HDFC (1.3%), SUN PHARMA (1.1%), […]<\/p>\n","protected":false},"author":10,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[641,85],"tags":[643,642],"_links":{"self":[{"href":"http:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/1600"}],"collection":[{"href":"http:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"http:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/comments?post=1600"}],"version-history":[{"count":1,"href":"http:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/1600\/revisions"}],"predecessor-version":[{"id":1601,"href":"http:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/posts\/1600\/revisions\/1601"}],"wp:attachment":[{"href":"http:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/media?parent=1600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/categories?post=1600"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.assetmultiplier.co.in\/blog\/wp-json\/wp\/v2\/tags?post=1600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}