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Biocon shares rise 2% after USFDA approval for Yesintek single-dose prefilled autoinjector

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Biocon shares rise 2% after USFDA approval for Yesintek single-dose prefilled autoinjector
Shares of Biocon rose 2% to Rs 420.25 on the BSE on Tuesday, after the company’s subsidiary in the United States received supplemental U.S. Food and Drug Administration (FDA) approval for Yesintek 45 mg/0.5 ml single-dose prefilled autoinjector and Yesintek 90 mg/ml single-dose prefilled autoinjector.

According to a regulatory filing by the company on the BSE, the Yesintek single-dose prefilled autoinjector offers patients with another important treatment option. This new delivery format supports more tailored treatment approaches across different care settings and patient needs.

“This supplemental approval enhances Biocon’s comprehensive portfolio of immunology products in the United States and reaffirms the company’s commitment to improving access to affordable medicines for patients around the world,” the company said, as per the regulatory filing.

Yesintek is indicated for the treatment of moderate to severe plaque psoriasis and active psoriatic arthritis in adult and pediatric patients who are six years of age and older, and moderate to severely active Crohn’s disease and ulcerative colitis in adults, thereby treating a range of debilitating autoimmune conditions that affect tens of thousands of Americans.

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Biocon Q1 Results

The company reported a net profit of Rs 141 crore in the June quarter of FY27. It reported a 10% year-on-year increase in consolidated operating revenue to Rs 4,336 crore, driven by strong growth in the Biopharma business. Biopharma revenue grew 17% YoY, driven by momentum from recent biosimilar and generic product launches across key markets.


Consolidated EBITDA stood at Rs 902 crore, with a margin of 21%, supported by improved profitability in the Biopharma business, which helped offset continued challenges in the Services business.

Biocon Share Price

Shares of Biocon have gained nearly 3% in the last three months. However, the shares have slipped over 7% over the last six months.

The shares of the drugmaker have declined over 9% in 2026 so far. In the longer term, Biocon shares have fallen over 4% over one year, but have delivered 19% returns over three years and 39% returns over five years.

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Hindustan Copper, Vedanta, other metal stocks slip up to 2% after sharp gains. Should you buy the dip or avoid?

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Hindustan Copper, Vedanta, other metal stocks slip up to 2% after sharp gains. Should you buy the dip or avoid?
Shares of metal companies dropped up to 2% on Tuesday, after recording sharp gains in the previous session, with analysts advising investors to view profit-booking-led corrections as buying opportunities.

Nifty Metal dropped half a per cent amid an overall bearish market sentiment on Tuesday, with NMDC shares falling more than 2% to lead losses. Hindustan Copper shares lost over 1%, after rallying around 8% in the previous session.

Today’s fall in metal stocks comes as metal prices corrected after hitting multi-month highs the previous day. Copper prices fell as the market digested a string of disappointing economic data from China, and the US-Iran truce expired without a longer-term peace deal. This comes a day after the red metal hit its highest in more than six months on Monday amid worries around availability on the London Metal Exchange, where inventories are at their lowest since February.

Gold and silver prices also declined in the domestic market, although the precious metals extended gains in the international market.

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Also read | Gold slips below Rs 1.55 lakh/10 gm on MCX, but global prices extend gains. What’s next?

Should you buy metal stocks?

Metal stocks are reacting to a decent recovery in underlying metal prices, said Sunny Agrawal, Head of Fundamental Research at SBI Securities. He noted that copper, aluminium, zinc and silver prices are up by 6%, 4%, 8% and 12% respectively over the last month.
“Investors can selectively participate in a few names like Nalco and Hindustan Zinc. Traders should adhere to stop loss to factor in sudden correction in the underlying metal prices which is a function of many factors including dollar index, global demand supply etc,” Sunny Agrawal from SBI Securities said.

Technical view

One of the better ways to assess the outlook for a basket of stocks is to study the corresponding sectoral index, as it provides a broader representation of the underlying group, said Hitesh Rathi, Technical Analyst at Angel One. “In this context, the Nifty Metal index had been trending lower since May this year, with the sectoral index forming a 100% bearish pole on its 0.25% × 3 point and figure chart. This resulted in a correction of over 10% in the index, translating into a sharper decline across several metal stocks,” he explained, adding that the technical setup now appears to be turning constructive.

The sectoral index seems to have established a strong support zone in the 12,500–12,400 band, underscored by the formation of a weak breakout on its daily 1% renko chart, he added. Following this development, the index has already rallied by over 5% in a relatively short period, indicating a meaningful improvement in momentum.

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The combination of a well-defined support zone and the bullish breakout formation suggests the presence of strong demand at lower levels and points towards a potential reversal in the broader trend, according to the analyst. “That said, given the sharp upmove witnessed recently, chasing momentum at current levels may not offer the most favourable risk-reward proposition. Instead, any retracement towards the 12,800–12,700 band should be viewed as an opportunity to accumulate select metal stocks, with the broader sectoral setup now turning increasingly constructive,” Rathi concluded.

Also read | Paytm block deal: Vijay Shekhar Sharma’s Resilient Asset likely sells nearly 2 crore shares worth Rs 2,949 crore

(With inputs from agencies)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Huber+Suhner H1 2026 slides: record orders offset by margin pressure

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Huber+Suhner H1 2026 slides: record orders offset by margin pressure

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Aussie shares flat as health stocks, BHP limit losses

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Aussie shares flat as health stocks, BHP limit losses

Australia’s share market has ended the session slightly lower, despite outsized gains in BHP and healthcare stocks ultimately shielding broader market weakness.

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Artisan Floating Rate Fund Q2 2026 Commentary

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Artisan Floating Rate Fund Q2 2026 Commentary

Artisan Partners is a global investment management firm that provides a broad range of high value-added investment strategies in growing asset classes to sophisticated clients around the world. Since 1994, the firm has been committed to attracting experienced, disciplined investment professionals to manage client assets. Artisan Partners’ autonomous investment teams oversee a diverse range of investment strategies across multiple asset classes. Strategies are offered through various investment vehicles to accommodate a broad range of client mandates.
This site is intended for use with US institutional investors which includes corporate and public retirement plans, foundations, endowments, trusts and their consultants. Note: This account is not managed or monitored by Artisan Partners, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use the firm’s official channels.

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Colgate-Palmolive shares fall over 2% after Investor Day. What Goldman Sachs and other brokerages are saying

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Colgate-Palmolive shares fall over 2% after Investor Day. What Goldman Sachs and other brokerages are saying
Shares of Colgate-Palmolive slipped 2.35% on Tuesday following its Investor Day 2026 presentation. Investors appeared cautious as management outlined strategic priorities that balance aggressive brand investments with long-term profitability goals, causing the stock to slide to an intra-day low of Rs 1,965 on the BSE.

Should you buy, sell or hold the stock?

In an analyst note reported by ET Now, Goldman Sachs maintained its Neutral rating on Colgate Palmolive with a target price of Rs 2,050, implying a modest upside from current levels. The brokerage highlighted that Colgate’s strategy is aggressively pivoting toward volume recovery, premiumization, and category expansion. ET Now reported that while heavy step-ups in brand spending and advertising intensity could weigh on operational margins over the short term, structural cost savings from the company’s ‘Funding the Growth’ initiative will help cushion profitability.
Motilal Oswal maintained its Buy rating on Colgate Palmolive with a target price of Rs 2,500, implying a 27% upside from current levels. The brokerage noted that the core investment thesis remains intact as Colgate continues to lead and drive category expansion in India. It highlighted strong traction in science-led innovations like Colgate Strong Teeth with Arginine and rapid scaling in premium offerings such as Visible White Purple. Motilal Oswal expects sales to reach Rs 66.5 billion in FY27E and Rs 71.2 billion in FY28E, supported by steady volume execution and segment leadership.

Nuvama maintained its Buy rating on Colgate Palmolive with a target price of Rs 2,350, implying a 22.5% upside from current levels. The brokerage highlighted the company’s persistent focus on driving oral care penetration and expanding market reach. It noted that 45% of rural Indians still do not brush daily and 76% of urban Indians do not brush twice a day. Nuvama added that management’s decision to allocate roughly 16% of revenues toward brand building underscores a strategy centred on long-term category expansion over short-term margin maximisation, backed by a distribution footprint across 7.1 million stores.

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Colgate management commentary

Managing Director Prabha Narasimhan emphasised that Colgate is best placed to lead and expand the oral care category in India. “Our strategy is clear: drive growth ahead of profitability,” management stated, pointing out that premium toothpaste share has expanded 2.5 times compared to 2021 levels and direct retail coverage now reaches 1.7 million outlets.


(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times.)

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Nomura Mid Cap Growth Fund Q2 2026 Commentary

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Nomura Mid Cap Growth Fund Q2 2026 Commentary

Nomura Mid Cap Growth Fund Q2 2026 Commentary

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U.S. Health Insurers Raise Outlooks Despite Q2 Cost Rises, Shifting Membership

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U.S. Health Insurers Raise Outlooks Despite Q2 Cost Rises, Shifting Membership

U.S. Health Insurers Raise Outlooks Despite Q2 Cost Rises, Shifting Membership

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Welspun Living shares surge 8%; stock gains 14% in 3 days. What’s driving the rally?

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Welspun Living shares surge 8%; stock gains 14% in 3 days. What’s driving the rally?
Shares of Welspun Living surged 7.77% to Rs 181.17 in Tuesday’s trading session, extending their winning streak to a third consecutive day. The stock has gained nearly 14% over the past three sessions, driven by strong investor sentiment following the company’s robust Q1FY27 performance, announced on August 13.

The home-textile major reported a strong start to FY27, with revenue growth, a sharp jump in profitability and improving operating margins strengthening the outlook for the business.

Following the strong quarterly performance, brokerages Motilal Oswal Financial Services and JM Financial retained their ‘Buy’ ratings on the stock, citing improving business fundamentals and further earnings growth potential.

Welspun Living’s consolidated profit for the June quarter jumped 85% year-on-year (YoY) to Rs 161 crore, compared with Rs 87 crore in the same quarter last year. Revenue from operations increased 24% YoY to Rs 2,795 crore, compared with Rs 2,261 crore in the year-ago period.

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JM Financial maintains ‘Buy’ rating


JM Financial remains positive on Welspun Living and has maintained its ‘Buy’ rating following the company’s stronger-than-expected Q1FY27 performance.
The brokerage highlighted that consolidated EBITDA of Rs 320 crore was well ahead of its estimate of Rs 280 crore. The outperformance was supported by better operating leverage and an improved product mix. EBITDA margin expanded by 151 basis points YoY to 11.5%, pointing to an improvement in the company’s operating efficiency.Motilal Oswal sees further upside

Motilal Oswal Financial Services has also reiterated its ‘Buy’ rating on Welspun Living, with a target price of Rs 215, indicating further upside from the stock’s current levels. The brokerage expects Welspun Living to sustain double-digit revenue growth as home-textile volumes recover. It also expects EBITDA margins to move towards 13%, aided by a better business mix and a recovery in flooring margins.

Motilal Oswal expects the core home-textile business to clock around 15% CAGR between FY26 and FY28. Bath is expected to lead growth with a high-teens expansion, followed by Bed and Rugs & Carpets. The emerging business is projected to grow at around 17%.

Stock performance

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Welspun Living shares have delivered a strong performance over the past year, gaining around 45%. The stock currently has a market capitalisation of approximately Rs 15,886 crore. In Tuesday’s session, the stock touched a fresh 52-week high of Rs 182, reflecting the strong momentum following the Q1 results.

Technical indicators remain positive

On the technical front, the stock’s 14-day Relative Strength Index (RSI) stood at 57.4. An RSI below 30 is generally considered to indicate an oversold zone, while a reading above 70 is considered overbought. The broader trend also remains bullish, with Welspun Living trading above all eight tracked simple moving averages (SMAs).

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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Ferguson shipyard to cut a quarter of its workforce as it awaits promised orders

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breaking news graphic

The first, MV Glen Sannox, was finally delivered in November 2024, while MV Glen Rosa is due for completion by the end of this year.

The shipyard recently completed sub-contracting work for BAE Systems for new Type 26 frigates and currently has no confirmed future orders.

In March, before the Holyrood election, the Scottish government announced plans to directly award the shipyard contracts for four future vessels.

It said the vessels – two small CalMac ferries, a fisheries research ship and a marine protection vessel – would provide a “bridge to the future” for the yard.

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The then Economy Secretary Kate Forbes said the government had “done a lot of the upfront work in terms of scoping out, securing some of the legal advice about what is possible”.

But she added that engagement with the Competition and Markets Authority would be required.

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