The domestic equity benchmarks trimmed some losses but traded with modest cuts in afternoon trade. The Nifty traded below the 25,200 level. PSU bank, IT and metal shares declined while media, pharma and FMCG stocks advanced. At 13:27 IST, the barometer index, the S&P BSE Sensex, slipped 277.84 points or 0.34% to 82,277.60. The Nifty 50 index declined 105.15 points or 0.42% to 25,174.70. In the broader market, the S&P BSE Mid-Cap index declined 0.35% and the S&P BSE Small-Cap index rose 0.34%. The market breadth was negative. On the BSE, 1,808 shares rose and 2,065 shares fell. A total of 121 shares were unchanged. Economy : Indian service providers signaled that the strong start to the second fiscal quarter continued into August, with business activity expanding to the greatest extent since March as growth of incoming new business ticked higher. Moreover, payroll numbers rose solidly as companies remained upbeat regarding the economic outlook. Another positive development included a slowdown in output charge inflation, which was helped by cost pressures retreating to their lowest in four years. At 60.9 in August, the seasonally adjusted HSBC India Services Business Activity Index was inside expansion territory for the thirty-seventh straight month. Moreover, rising from 60.3 in July, the headline figure indicated the strongest rate of expansion since March and one that was well above its long-run average. According to panel members, growth was underpinned by productivity gains and positive demand trends. The current run of new order growth was also stretched to 37 months in August. The rate of increase quickened marginally from July and was the strongest since April, as more than one-quarter of panelists reported an improvement and only 5% indicated deterioration. August data showed another substantial increase in Indian private sector output. At 60.7, the HSBC India Composite Output Index matched July's reading and therefore remained comfortably above its long-run average of 54.6. Service providers signaled the strongest increase in business activity since March, while goods producers posted the weakest rise in production for seven months. A similar trend was seen for new orders, with the service sector posting a quicker increase as manufacturing saw a slowdown. At the composite level, sales rose substantially during August, though at the weakest pace since May. Trends for input prices were consistent at manufacturing companies and their services counterparts, as both saw cost pressures receded in August. The aggregate rate of inflation retreated to a six-month low. August survey data showed that prices charged for Indian goods and services rose to a lesser extent than in July. Manufacturers continued to note the quicker increase. Gainers & Losers: Asian Paints (up 2.83%), Hindustan Unilever (up 1.42%), Grasim Industries (up 1.41%), Sun Pharmaceutical Industries (up 0.63%) and UltraTech Cement (up 0.55%) were major Nifty gainers. Wipro (down 2.86%), Coal India (down 2.78%), Oil & Natural Gas Corporation (down 2.68%), Hindalco Industries (down 1.81%) and Mahindra & Mahindra (down 1.78%) were major Nifty losers. Stocks in Spotlight: Adani Enterprises shed 0.72%. The company announced that its step-down subsidiary, Adani Global Pte (AGPTE), Singapore has incorporated a wholly owned subsidiary named, Adani Energy Resources (Shanghai) Co. (AERCL), domiciled in Shanghai, China on 2 September 2024. Natco Pharma rose 0.28%. The pharma major said that its wholly owned Canadian subsidiary, Natco Pharma (Canada) made an investment of $8 million in biotechnology company, eGenesis for developing safe and effective human-compatible organs for transplant. eGenesis is engaged in using its multiplex gene editing and genome engineering platform to transform solid organ and therapeutic cell transplantation for the treatment of serious diseases. Rama Steel Tubes soared 12.24% after the company announced a strategic collaboration with Onix Renewable for provide steel structures for latter's solar projects. G R Infraprojects fell 0.37%. The company announced that it has entered into share purchase agreement with REC Power Development and Consultancy (RECPDCL) for acquisition of Tumkur-II REZ Power Transmission (TRPTL). MOIL rose 0.90%. The company achieved its best ever August production of 1.24 lakh tonnes of manganese ore in August, 2024. Route Mobile slipped 0.43%. The company informed that it has received a GST demand notice amounting to Rs 5.34 crore from the Office of Assistant Commissioner of State Tax Maharashtra. Global Markets: European and Asian market tumbled on Wednesday, following a sharp tech selloff on Wall Street, coupled with resurgent concerns about U.S. growth, drove investors away from riskier assets. Recent data from China revealed that its economy is still struggling to gain traction, leading to renewed calls for more stimulus from Beijing. The sluggish Chinese outlook, the world's largest oil importer, further exacerbated the decline in oil prices due to expectations of weakening demand. September has historically been a challenging month for stocks, but analysts attributed the current rout to a confluence of factors, including tepid U.S. manufacturing data. U.S. stocks closed sharply lower overnight after the holiday, with AI leader NVIDIA tumbling nearly 10% as investors tempered their enthusiasm about artificial intelligence. The return from the Labor Day holiday saw a widespread air of portfolio de-risking across capital markets. Growth concerns were the dominant theme, leading to a sell-off in cyclical-sensitive assets and aggressive hedging. The Dow Jones Industrial Average fell 1.51%, the S&P 500 slid 2.12% and the Nasdaq Composite dropped 3.26%. All three indexes notched their worst days since the global sell-off on Aug. 5. US manufacturing contracted at a moderate pace in August. The Institute for Supply Management (ISM) said its manufacturing PMI rose to 47.2 last month from 46.8 in July, which was the lowest reading since November. The PMI remained below the 50 threshold for the fifth straight month. Powered by Capital Market - Live

The frontline indices traded in a narrow range with modest losses in early afternoon trade. The Nifty hovered below the 25,150 mark. Metal shares witnessed selling pressure for the third consecutive trading session. At 12:30 IST, the barometer index, the S&P BSE Sensex, dropped 397.54 points or 0.49% to 82,157.90. The Nifty 50 index slipped 142 points or 0.56% to 25,137.85. In the broader market, the S&P BSE Mid-Cap index declined 0.38% and the S&P BSE Small-Cap index rose 0.20%. The market breadth was negative. On the BSE, 1,753 shares rose and 2,069 shares fell. A total of 128 shares were unchanged. Economy : Indian service providers signaled that the strong start to the second fiscal quarter continued into August, with business activity expanding to the greatest extent since March as growth of incoming new business ticked higher. Moreover, payroll numbers rose solidly as companies remained upbeat regarding the economic outlook. Another positive development included a slowdown in output charge inflation, which was helped by cost pressures retreating to their lowest in four years. At 60.9 in August, the seasonally adjusted HSBC India Services Business Activity Index was inside expansion territory for the thirty-seventh straight month. Moreover, rising from 60.3 in July, the headline figure indicated the strongest rate of expansion since March and one that was well above its long-run average. According to panel members, growth was underpinned by productivity gains and positive demand trends. The current run of new order growth was also stretched to 37 months in August. The rate of increase quickened marginally from July and was the strongest since April, as more than one-quarter of panelists reported an improvement and only 5% indicated deterioration. August data showed another substantial increase in Indian private sector output. At 60.7, the HSBC India Composite Output Index matched July's reading and therefore remained comfortably above its long-run average of 54.6. Service providers signalled the strongest increase in business activity since March, while goods producers posted the weakest rise in production for seven months. A similar trend was seen for new orders, with the service sector posting a quicker increase as manufacturing saw a slowdown. At the composite level, sales rose substantially during August, though at the weakest pace since May. Trends for input prices were consistent at manufacturing companies and their services counterparts, as both saw cost pressures receded in August. The aggregate rate of inflation retreated to a six-month low. August survey data showed that prices charged for Indian goods and services rose to a lesser extent than in July. Manufacturers continued to note the quicker increase. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 3.93% to 14.39. The Nifty 26 September 2024 futures were trading at 25,209.85, at a premium of 72 points as compared with the spot at 25,137.85. The Nifty option chain for the 26 September 2024 expiry showed maximum Call OI of 45.4 lakh contracts at the 25,000 strike price. Maximum Put OI of 76.7 lakh contracts were seen at 25,000 strike price. Buzzing Index: The Nifty Metal index slipped 0.95% to 9,165.25. The index fell 2.55% in three consecutive trading sessions. Hindalco Industries (down 2.08%), National Aluminium Company (down 1.86%), Hindustan Zinc (down 1.72%), Vedanta (down 1.4%), NMDC (down 1.24%), Hindustan Copper (down 1.05%), Steel Authority of India (down 0.92%), Jindal Stainless (down 0.85%), Adani Enterprises (down 0.69%) and Tata Steel (down 0.69%) declined. Stocks in Spotlight: Natco Pharma shed 0.01%. The pharma major said that its wholly owned Canadian subsidiary, Natco Pharma (Canada) made an investment of $8 million in biotechnology company, eGenesis for developing safe and effective human-compatible organs for transplant. eGenesis is engaged in using its multiplex gene editing and genome engineering platform to transform solid organ and therapeutic cell transplantation for the treatment of serious diseases. G R Infraprojects slipped 0.47%. The company announced that it has entered into share purchase agreement with REC Power Development and Consultancy (RECPDCL) for acquisition of Tumkur-II REZ Power Transmission (TRPTL). MOIL advanced 1.07% after the company achieved its best ever August production of 1.24 lakh tonnes of manganese ore in August, 2024. Route Mobile declined 0.17%. The company informed that it has received a GST demand notice amounting to Rs 5.34 crore from the Office of Assistant Commissioner of State Tax Maharashtra. Powered by Capital Market - Live

Natco Pharma announced that its wholly owned Canadian subsidiary, Natco Pharma (Canada) Inc. has made an investment of US$ 8 million in eGenesis, Inc., a biotechnology company at the forefront of xenotransplantation focused on developing safe and effective humancompatible organs for transplant. In March 2024, eGenesis announced the world's first porcine kidney transplant in a living patient. The transplant was authorized by the U.S. Food & Drug Administration (FDA) under the Expanded Access pathway. eGenesis is pioneering a genome engineering-based approach in the development of safe and effective transplantable organs to end the global organ shortage and transform the treatment of organ failure. The eGenesis Genome Engineering and Production (EGEN') Platform is the only technology of its kind to comprehensively address cross-species molecular incompatibilities and viral risk via genetic engineering to improve the lives of patients in need of a transplant. eGenesis is advancing development programs for kidney transplant, acute liver failure, and heart transplant.Powered by Capital Market - Live

eGenesis is engaged in using its multiplex gene editing and genome engineering platform to transform solid organ and therapeutic cell transplantation for the treatment of serious diseases. The company plans to acquire 4,06,29,761 shares on investing $8 million in eGenesis. The acquisition is expected to be completed on 30 September 2024. In March 2024, eGenesis announced the world's first porcine kidney transplant in a living patient. The transplant was authorized by the U.S. Food & Drug Administration (FDA) under the expanded access pathway. eGenesis is pioneering a genome engineering-based approach in the development of safe and effective transplantable organs to end the global organ shortage and transform the treatment of organ failure. The eGenesis Genome Engineering and Production (EGEN) Platform is the only technology of its kind to comprehensively address cross-species molecular incompatibilities and viral risk via genetic engineering to improve the lives of patients in need of a transplant. eGenesis is advancing development programs for kidney transplant, acute liver failure, and heart transplant. Rajeev Nannapaneni, vice chairman and CEO of Natco Pharma, said, 'We agree with the vision of eGenesis that xenotransplantation technology has the potential to end the global transplant shortage and transforming the treatment of organ failure by eliminating waitlist mortality.' Natco Pharma is engaged in the business of pharmaceuticals which comprises research and development, manufacturing and selling of bulk drugs and finished dosage formulations. The company has manufacturing facilities in India which caters to both domestic and international markets including regulated markets like United States of America and Europe. The company's consolidated net profit surged 59.05% to Rs 668.5 crore in Q1 FY25 as against Rs 420.3 crore reported in Q1 FY24. Revenue from operations was at Rs 1,362.6 crore in Q1 FY25, up 19.47% from Rs 1140.5 crore posted in Q1 FY24. Shares of Natco Pharma shed 0.31% to Rs 1,524.05 on the BSE. Powered by Capital Market - Live

Natco Pharma Ltd rose for a third straight session today. The stock is quoting at Rs 1570.8, up 1.25% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.09% on the day, quoting at 24833.9. The Sensex is at 81102.86, up 0.06%. Natco Pharma Ltd has added around 19.18% in last one month. Meanwhile, Nifty Pharma index of which Natco Pharma Ltd is a constituent, has added around 7.56% in last one month and is currently quoting at 22546.1, down 0.25% on the day. The volume in the stock stood at 10.92 lakh shares today, compared to the daily average of 12.32 lakh shares in last one month.The PE of the stock is 18.07 based on TTM earnings ending June 24.Powered by Capital Market - Live

Natco Pharma has fixed 23 August 2024 as record date for second interim dividend for FY 2024-25. The dividend will be paid from 30 August 2024. Powered by Capital Market - Live

Natco Pharma announced that the 41th Annual General Meeting (AGM) of the company will be held on 30 September 2024.Powered by Capital Market - Live

Natco Pharma announced that the Board of Directors of the Company at its meeting held on 12 August 2024, inter alia, have recommended the dividend of Rs 3 per equity Share (i.e. 150%) , subject to the approval of the shareholders.Powered by Capital Market - Live

Revenue from operations was at Rs 1,362.6 crore in Q1 FY25, up 19.47% from Rs 1140.5 crore posted in Q1 FY24. The company said that the growth in revenue and profits were driven primarily by exports formulation business. Total income jumped 21.59% year on year to Rs 1,410.7 crore in the quarter ended 30 June 2024. Profit before tax in Q1 FY25 stood at Rs 803.6 crore, up 60.72% as against Rs 500 crore reported in the same period a year ago. The company's revenue from API stood at Rs 39.2 crore (down 47.8% YoY), income from domestic formulations was at Rs 102.2 crore (down 22.81% YoY) and revenue from crop health sciences (CHS) came in at Rs 15.6 crore (down 65.1% YoY) during the period under review. On the other hand, revenue from exports formulations jumped 36.86% YoY to Rs 1,210.10 crore during the quarter. Meanwhile, the company's board declared an interim dividend of Rs 3 per equity share in FY25, subject to approval of shareholders. The record date for the same is fixed on Friday, 23 August 2024. The payment of the dividend will start from 30 August 2024. Natco Pharma is engaged in the business of pharmaceuticals which comprises research and development, manufacturing and selling of bulk drugs and finished dosage formulations. The company has manufacturing facilities in India which caters to both domestic and international markets including regulated markets like United States of America and Europe.Powered by Capital Market - Live

Net profit of Natco Pharma rose 59.05% to Rs 668.50 crore in the quarter ended June 2024 as against Rs 420.30 crore during the previous quarter ended June 2023. Sales rose 19.47% to Rs 1362.60 crore in the quarter ended June 2024 as against Rs 1140.50 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales1362.601140.50 19 OPM %59.0646.30 - PBDT847.70543.50 56 PBT803.60500.00 61 NP668.50420.30 59 Powered by Capital Market - Live