Mon, Jul 1, 2024 2:11 PM
The S&P 500 Just Did Something It Has Only Done Once in History
A Flip by Shubhangi Gupta
Emcure Pharmaceuticals, the 13th largest pharmaceutical company in India, is set to go public with an IPO priced at INR 1,008 at the upper end, a 10% discount to its listed peers on an LTM PE basis. The company has a strong brand presence in India with 70.7% share of specialist prescriptions, and a diversified product portfolio across generics, branded generics, and patented products.
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ICICI Lombard's shares surged 2% to an all-time high of Rs 1,860 after CLSA upgraded the stock to 'outperform' and raised the target price to Rs 2,000, indicating a 7% upside. The stock has risen 27% this year, outperforming the Nifty 50 index. CLSA analysts raised premium growth estimates by 2% in FY25, citing 31% year-on-year growth in motor premiums.
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India plans to offer only short-term visas to Chinese technicians who will be allowed into the country for not more than six months to help with the implementation of projections related to the flagship production-linked incentive (PLI) scheme.“The idea is to fast-track visas for Chinese technicians as well but visas between three and six months will be issued so that they can teach Indian work."
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