- 27 minutes ago
Stock markets faced downward pressure as rising crude oil prices and simmering US-Iran tensions weighed on investor sentiment, dragging Nifty down to 23,779 amid steep declines in IT and metal shares. In corporate developments, Jaguar Land Rover announced 4,000 job cuts in the UK over two years to save 2.3 billion dollars amid tariff pressures and cyberattack impacts. Meanwhile, the domestic pharmaceutical sector witnessed robust momentum driven by weight loss and diabetes treatments, with Eli Lilly's Mounjaro recording over 500 percent sales growth and RPG Life Sciences preparing to launch its GLP-1 drug. Ashok Leyland highlighted strong growth in defense, with revenues tripling to over 1,200 crore rupees alongside a new production facility planned in Saudi Arabia. Market expert Abhishek Basumallik shared an optimistic outlook on the pharmaceutical and chemical sectors while advising caution regarding cyclical peaks in the automotive space and evaluating the surge of new public offerings.
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NewsTranscript
00:03very good afternoon dear viewers you're watching the business today's show with me
00:07sakshi patra this is where i get you all the stock market closing action
00:10on the lal street but first up let's take a look at what's hot in the corporate and the financial
00:15world stock markets remain under pressure as rising crude oil prices and simmering us iran
00:23tensions weigh on the investor sentiment since it stumbles 500 points to trade near 76 000 mark
00:28while the nifty slips 150 points to trade at around 23 750 led by it and metal stocks that are
00:36losing
00:36sheen fuel price high pressure mounts again as india's average crude oil import prices cross
00:47hundred dollars a barrel hitting a three-month high amid global oil volatility petrol consumption
00:52has risen 7.9 percent and diesel demand has jumped 6.4 percent in august
01:03but petrol vehicles lose their top spot in indian passenger vehicles for the very first time as cng
01:10hybrid vehicles and electric vehicles together now own a 41.9 percent share in the month of august the
01:17kind of sales that we've seen right ahead of petrol's 40.85 percent stake also overall auto retail sales
01:25have hit a record level of 24.23 lakh units sold in the month of august
01:34maruti suzuki hikes car prices by up to 20 000 rupees on select models citing rising input costs and
01:40inflationary pressures this marks the company's third price hike in f527 taking the total increase to 80 000 rupees
01:53rpg life sciences to launch its glp1 drug in october as it eyes india's growing obesity and weight
02:00management market in an exclusive conversation with business today television md ashok nair sees the market
02:06reaching 4000 crores in the next three to four years
02:15we'll straight away look at how the markets are shaping up at this point in time viewers we are still
02:19looking at 23 745 on the nifty we're at the low point of the day six tenths percent of a
02:24loss on the
02:25nifty and you can clearly see across the board there are several sectors that are creating this pressure
02:30led by it metal stocks real estate and even the oil and gas and psu banking index all of them
02:37are
02:37up to one one and a half percent of a dip that we can see across the board but it
02:41index is the one that
02:42has lost the ground the most about two and a half percent of a cut coming in there on the
02:46gaining side
02:47you only have the pharma index that's hovering about half watt percent higher along with this we are
02:52looking at the small cap stocks slightly up into the green at this point in time the top gainers are
02:57on your screens viewers you can look at apollo hospitals aisha motors tata consumer as the stocks
03:03that are gaining ground maruti suzuki max healthcare power grid and sipla some of the other names that
03:08are gaining ground but let me quickly now welcome our guest on board we have abhishek basumalik the
03:12co-founder and fund manager at srirama managers pms joining in for a fresh take on the markets welcome
03:17to you abhishek good to have you with us well yet again 23 800 has been breached on the lower
03:22side
03:23we are hovering below 23 750 again it's the simmering tensions between us iran and the rising
03:29crude oil prices that are weighing on heavy on the sentiments at large but do you significantly see
03:35pressure building up on the downside can we see a much deeper correction or are you are we likely
03:41to see a bounce back from these levels abhishek what do you pencil in good afternoon to you and
03:46your viewers i i honestly don't see that markets uh should go much further down i think we are seeing
03:54five six weeks of uh uh you know sort of downtick in the markets so i i don't think there's
04:03too much
04:03of downside left a few few percentage points here or there uh i think there's not too much of negative
04:10reaction also uh to the fresh uh you know war that is restarted uh in in between iran and us
04:20so nothing i mean it's just uh probably a time where the market is digesting uh whatever corporate
04:29results and things that were there and uh it's biding its time so expect things to be volatile but i
04:36don't
04:37expect markets to be significantly down from here okay let's uh take a big breaking news coming in on
04:44your screens viewers this is with regards to jaguar land rover which has announced big layoffs at the
04:49company jlr will be cutting 4 000 jobs in the uk over next two years reports are indicating that
04:57voluntary retirement will be offered and job cuts will save jlr 2.3 billion uh dollars over the next
05:04two years jlr has also talked about how they have been hit by tariffs by the cyber attacks and
05:10chinese companies competition rising as well and that's where the pressure has come in from look at
05:16tata motors and tata motors passenger vehicles talk right now about 1.3 percent low at this point in
05:22time remember tata motors owns the jlr company and therefore a clear reaction that could be seen there
05:27as well but jlr has announced big layoffs coming in of course the company had been facing enough and
05:33more pressures uh from the time the cyber attacks had come in the company felt it difficult to overcome
05:39the impact that was seen of course the tariff pressures and the rising competition from chinese
05:45majors is also something that they are watching out for clearly and the impact now being seen on the jobs
05:51that are being slashed there uh we were talking about the auto space as a whole abhishek how would you
05:57look at what's happening in the entire arena uh so far uh when we talk about uh the kind of
06:03um push
06:04that the entire space was getting was since uh september of last year 2025 when the gst cuts were announced
06:11that really lifted the sentiments across the auto space for investors uh substantially there were the stock
06:18prices rising uh but yet again the recent tariff pressures the recent competition rising from chinese
06:25companies uh how are you looking at what's happening in the auto space and what would you pay attention
06:30to so uh in addition to all this i think what we've also seen is that uh the automakers are
06:41very
06:41very bullish over the next three four years so you look at india you look at i think hyundai
06:46haruti kia everyone has come in and said that we will launch x number of vehicles over the next uh
06:54you know four years and that x is between say 10 to 25 30 new models now uh i tend
07:02to become very
07:03sort of skeptical when an entire industry starts uh uh talking such bullish things because uh it sort of
07:13starts signaling the fact that uh you could be very close to a cyclical top right there is there is
07:21this possibility that uh you know people are getting carried away by the shorter term trend and and
07:28typically that is what happens uh when you see uh in these kinds of cyclical uh industries right so
07:35an auto is a very classical cyclical industry so uh i would be you know slightly uh cautious
07:41uh nothing alarming immediately but you need to be cautious uh when you're investing in auto
07:48companies right now globally i think we are headed for a regime of uh you know higher interest rates
07:56so that should also be slightly negative for the auto uh you know vehicles personal vehicles market
08:02okay it's better to be a bit cautious better to be a bit cautious in the auto sector there could
08:10be
08:10more headwinds coming in once we do get a clearer picture as to whether the u.s fed will be
08:16raising
08:16the rates and whether that will be a phenomena across the world even in india as well that will
08:21be a watch out for factor too uh we'll shift focus to the sugar space as well remember viewers we've
08:26been highlighting for you how sugar prices have been on a surge with supply concerns mounting across
08:32india and brazil a strong el nino could definitely further hit production while e20 is boosting the
08:38demand uh with the ethanol blending the supply demand balance is tightening and commodity expert kunal
08:44shah has talked about how sugar prices rising uh more sharply from here could be seen let's listen
08:49into what he had to say uh sugar prices are likely to remain firm and can shoot up further because
08:57of
08:57this strongest el nino year we are going to see the production in brazil also likely to drop india's
09:04production also likely to drop uh and uh because of the e20 mandate uh crushing is going to be higher
09:11the demand is going to be higher and the supply side is very tight so uh on international front i
09:17see
09:18silver uh sugar going up to around 24 dollar or 24 to 25 dollar from here uh 17 and a
09:25half dollar 18
09:26dollar okay so sugar prices may remain firm even as we enter the festive season keep an eye out on
09:32that
09:33space viewers we'll shift gears and we'll talk about the pharma space pharma market is in fact seeing a
09:39major shift with the newer diabetes and weight management therapies now gaining rapid traction
09:43pharma tracks august 2026 report now shows monjaro emerging as the country's top selling brand
09:49and sales surging over 500 so what is driving this explosive growth and does it signal a broader shift
09:57towards diabetes and weight management therapies we have with us neetujandra sharma joining in with the
10:02more details on the same uh neetuj give us an understanding of what pharma track data shows
10:08uh the mat sales at 1256 cross that's up 502 percent um it is now the number one brand in
10:15the mat rankings
10:16what does it tell us about the pharma market and the trends that we are witnessing in the weight loss
10:21management drug space uh yes actually so basically the pharma track report shows that the key highlights of
10:27this report what we can see is that the august data shows that the overall indian pharma market
10:31basically uh growing about 10.4 percent while the anti-diabetic market segment grew about 15.2 percent
10:38in value so what we have seen that the diabetes segment has uh grown faster than the than the overall
10:44market it is basically uh showing that there are a lot of uh products and the options available for
10:50patients in the anti-diabetic and obesity space and as far as uh munjaro is concerned it's the
10:56innovator drug from drug maker li li a lot of patients are choosing that and it contains basically
11:03ters epitide which can manage obesity as well as diabetes so that is the reason what we are seeing and
11:09you know while more and more products are becoming available going forward the competition in this
11:14segment is certainly going to rise absolutely so you've been getting us all of those trends i think
11:19the one key question everybody wants to know is that why are glp1 drugs becoming more popular in
11:25india they were initially launched to manage diabetes but are they particularly rallying because of
11:31heightened demand for weight management yes actually so basically one thing we need to understand that
11:37the burden of diabetes as well as obesity is rising in india but in parallel we are also seeing that
11:43there are a lot of products available for managing these conditions and at the same time there is a lot
11:49of awareness among patients and indian populations regarding indian population regarding these drugs
11:54so you know a lot of people are opting for these drugs and going to the doctors for getting them
12:00prescribed when there is one caveat we need to understand that these are only prescription drugs
12:05and these can only be prescribed by registered medical practitioners so certainly the competition is
12:10rising and there is a lot of you know wider coverage of patients in this particular segment so we are
12:16seeing it this competition rising going forward sakshi okay thanks a lot nito for getting us those
12:22details in fact when we are talking about glp1 obesity drug market it's in fact emerging as a major
12:27opportunity for a lot of indian pharma companies now it is rpg life sciences which is all set to launch
12:33its
12:33glp1 drug in october the company in fact expects the domestic market to grow to around 4 000 crores over
12:40the
12:40next three to four years and it is also targeting a meaningful share within this market let me
12:45uh get you this exclusive conversation and a slice of that with rpg life sciences md ashok nair
12:53we will be launching our glp uh in the month of october and glp1 of course is a significant
13:00development for the pharma industry sakshi so with increasing focus on improving patient outcomes
13:05there are already 20 brands in the market with a shift to the recent domestic launches so our
13:12patient our approach remains patient centric and we will evaluate entry into the space on because we
13:16are strong in some of the super specialities and having said that the glp1 revolution still in this
13:22early chapters as science advances the category will expand through the oral therapies next generation
13:28and a broader disease applications so for indian companies entering this space the real challenge
13:34is not whether glp1 will matter it already does the challenge is how responsibly innovatively and
13:40meaningfully the industry can help bring its benefit to the patients who need them most okay so what kind
13:46of investment will be required to build this business going forward from here since you're talking about
13:51both oral and injectables business as well so we are already tied up with a research innovator with
13:58whom we had done a co-development we didn't look at co-development we did share our uh cost with
14:05that
14:05so that we can't i can't share with you how much it is that is something which is will get
14:11uh shortly and
14:12that is i said that we'll be launching it in october okay and sir since there's a lot of competition
14:18that's increasing in this space again a lot of price points are being discussed how are you looking at
14:23strategically positioning when you launch this drug from your end so see let's our strength has
14:29always been in super specialities in nephrologist in rheumatologist and other nation super speciality
14:35focus so we believe that by launching this and with an innovation in the release form we should
14:41be able to i am not looking that i want to be a 500 crore in the bracket this portfolio
14:45i i i'll be happy
14:47even if we get a sizable share from out of this and i'm sure with my specialities and with what
14:53we
14:53do we will surely get a share of it and i strongly believe this is a market which will grow
14:58in the
14:58india in the next three to four years at four thousand crore so even getting a five percent share
15:03out of it will be good enough for all of us let me get abhishek's view on the entire pharma
15:09story and
15:10how it is developing abhishek when we started off this year pharma sector emerged as one of the
15:15consensus buys you've talked about it quite a bit on the channel as well how are you looking at the
15:20pharma story from here on is a lot of good news a lot of opportunities already in the price or
15:25is
15:25there still a lot more to go considering how more and more indian companies are betting big on newer
15:30opportunities something that they have not done before but are looking at opportunities over the
15:35next three to four years case in points the glp1 weight loss management drugs and many other
15:40forays that the companies are looking at how would you look at your approach to the pharma space
15:44i'm very very positive on pharma simply because multiple factors one obviously glp1 is a very big
15:52uh you know breakthrough and globally uh initially you know first couple of years uh for something
15:59like this it will take time for people to adopt and once they see a lot more people around them
16:05taking it uh then more and more people start uh you know the the kind of stigma or uh you
16:13know
16:13mental challenges that are associated with taking weight loss drugs uh in general uh sort of goes
16:19away and then you'll find especially in countries like india where we have a lot of diabetes where we
16:26have a lot of obesity uh these kinds of drugs will pick up a lot uh and similar case globally
16:32as well
16:32i mean obesity is is huge across the world so this is going to pick up for for sure
16:39other than glp1 of course there is a huge patent uh cliff that's coming right so uh you know that
16:47that's something that the indian companies uh i'm sure are taking steps and we have uh done a lot of
16:54work on that so they're taking steps to be uh uh first in line when generics come out so a
17:01big
17:01opportunity for the indian pharma in the next three to four years okay so big opportunities for the
17:07pharma sector bullish view uh for this sector from every shake also over the next three to five years
17:12you are likely to see many more opportunities emerging let me again shift focus to uh one of
17:18the conversations that we've had and this is with ashore clayland the company is betting big on two
17:23key growth areas one is defense and the international markets the company has said that its defense
17:29business has tripled in just three years while strong demand in the gccs is prompting um a fresh
17:36manufacturing investment in saudi arabia as well in fact we've seen business today's karan dhar
17:41catching up with ashore clayland's md and ceo shenu agarwal to understand the company's expansion
17:46plans let's listen into a slice of that conversation we are very proud ourselves of being a part of
17:53nation security and we have been selling defense trucks and buses for a long period of time and we
17:59have a great relationship with all the forces defense is one area which has grown tremendously
18:07for us three years ago our top line on defense was very small about 400 crores and now we have
18:14taken it up to 1200 plus crores so we have tripled it in last three years we think there is
18:20huge
18:20potential in defense for us not just in newer platforms for trucks and buses but we are also
18:26considering uh some new segments within defense where we can enter now that whole planning is
18:34going on but our ambition is in defense is very high so we will once that plan is complete i'll
18:40come
18:41back to you and give you more details but yes defense has worked out very well for us in the
18:45past
18:46we are very proud of being in the defense business and we think there is huge opportunity for us to
18:51grow it further uh tell us about your rasal khayma plant uh in the gulf and uh how significant is
18:57it
18:57and which are the markets that you will be looking at uh you know for exports uh from that particular
19:02plant so rasal khayma has been a great investment for us it has been a great facility for us
19:10uh the installed capacity of rasal khayma is roughly around 6 000 units which is 500 a month
19:18uh but we are operating it at 700 to 800 a month and that we are doing because the demand
19:24is so high
19:24for our products in gcc region now rasal khayma also is catering to not only just catering to gcc but
19:31also catering to some of the north african markets where they need that upgraded product that we build in
19:37rk now since the demand of for for ashokalan and trucks and buses is outpacing the capacity we have
19:44decided to put up a new plant in that region in gcc in saudi and that plant will have a
19:50capacity of
19:507500 to begin with but can be expandable to 15 000 also
19:56all right let's quickly look at how the markets are shaping up 23 760 and we might just be able
20:03to
20:03see some cash impact towards the last few minutes of trade that might show up but let's also discuss
20:10with abhishek the kind of divergence that we are seeing in the markets in terms of what's happening
20:15in the secondary markets that listed space that reflects that's reflected by the nifty the nifty
20:20bank the nifty 500 cents the small caps and the mid caps as well but what's happening in the primary
20:27market space is there's a clear rush that people are looking at to tap any kind of liquidity that
20:33exists uh in this week alone viewers we have 12 ipos that are opening for subscription that might
20:39raise over 7 000 odd crores so i'm going to be discussing that with you abhishek to try and
20:44understand is that the reason for also the underperformance that we are seeing in the
20:49secondary markets are you seeing a clear shift of liquidity from secondary to primary markets
20:54with so many ipos opening up on a single day at least there'll be one day in this entire new
20:59week
21:00wednesday uh 9th when 10 ipos will be open for subscription so that's the kind of uh you know
21:07choice that people will have and not everyone will have the bandwidth to invest in each of the ipos
21:12that will be coming in so how are you gauging this entire ipo rush so i think this is uh
21:18you know
21:19this is something that we've seen in the past as well that whenever markets tend to do a little bit
21:24you know little well uh we are seeing of s and ipos coming in and uh when you have many
21:33of these
21:34coming in together there is a tendency for uh you know by investors to take money away from the
21:41secondary market to put in uh into these ipos so there is a lot of these ipo flipping games which
21:47continue we can't do anything about it that's the way the market operates and that's the way it will be
21:53so not you know you can't really do anything but other than just being aware that this is going to
21:58happen are there any ipos that have you know interested you at all are you looking at advising
22:04clients for some of the ipos don't look at ipos unless they have at least two three quarters of
22:09earnings post ipo uh you know but what would you say to companies like esds software i mean two days
22:17of a history the stock is uh given uh you know over 100 returns about 150 rally from the ipo
22:23price
22:24within two days what do you have to say about such stories then
22:27no very good for people who actually invested in the ipo uh i would i would actually be questioning
22:35if i were the promoter i'd be questioning the investment banker in terms of the pricing
22:39uh and other than that i think you know these kinds of one-off things will happen
22:44uh but uh there will also be companies which will be down 30 40 percent 50 percent 80 percent in
22:51a
22:52year's time so if you're investing for a slightly longer horizon uh it's okay i mean uh if it's really
23:00a great company uh it will be great even two quarters from now let it do with self by uh
23:06being
23:07listed by being in the public domain or a couple of quarters and then we'll see
23:13okay uh we are at 3 30 p.m viewers and you have the cas impact playing out 23 779
23:20is where the nifty has shut shop about 118 points lower you did see some improvement towards the end
23:26of the session uh you know just right last one minute when we have shown up uh in the cas
23:32impact
23:32but pharma and small caps the only two pockets that remained into the green rest of them slipped
23:37with the real estate down by 1.7 percent metals down 1.2 percent it uh the big laggard today
23:442.3
23:45percent of a lower index um you know action that we've seen today on the nifty however where the
23:50pressure has emerged clearly from is among stocks like it names infosys down by 3.8 percent today
23:56tech mahindra 2.4 percent down wipro down 1.9 percent uh you've also seen some other names
24:02like sbi live tata steel uh geo financial services ultra tech cement as the big laggards in the session
24:08but let's now shift focus to taking some of your queries with abhishek we have our first query for
24:14you uh coming in from mumbai this is sandhya who's writing in and wants to know since the
24:19it stocks are declining is it the right time to invest in it stocks if you have a three to
24:26five
24:26year horizon uh it's not a bad idea but i would suggest uh investing in a basket of it stocks
24:33not
24:33picking individual uh names if you are not uh very conversant with uh the businesses etc of individual
24:40companies a basket of it companies actually may uh you know do reasonably well in a three to five year
24:47horizon let's also take the next question this one is from bengaluru vijay patel uh says that
24:53among pharma hospitals and diagnostic companies uh which uh you know looks better for the long term
24:59since you're bullish on the pharma sector as a whole which pocket is more uh you know likely to benefit
25:05more uh pharma is very diverse so if you can pick the stocks pharma would probably do the best
25:13uh followed by diagnostics again uh it's very fragmented so consolidation is happening uh likely
25:22again to do well uh with more and more awareness of people hospitals is uh slightly challenging because
25:29uh it's prone to government interventions and policy interventions ideally it should also do well and
25:36i'm i'm sure it will but it does have the risk of government suddenly coming in
25:42and putting in price caps and whatnot uh which can disrupt the business models of some of these uh
25:49you know hospitals so you have to be very careful and nimble if you are investing in hospitals so i
25:54would if i had to rank i'll put pharma first diagnostics next and the hospitals last okay uh let's take
26:02another one this one is from nikhil he nikhil agarwal he's from pune and he asks you which sector
26:08uh looks attractive for investment right ahead of the festive season
26:14very difficult to call i mean uh on horizon but right now when i'm looking at uh you know uh
26:20across
26:20the board i think uh pharma looks good uh you look at uh chemicals uh you know a lot of
26:27these chemical
26:28names are picking up significantly because uh china is uh putting in a lot of uh constraints on on
26:36on companies there so uh chemical prices are shooting up uh which is having a beneficial effect
26:43of on chemical companies in india so that's a very interesting place to be in uh i think short term
26:50autos could do well uh but longer term you need to be a little bit you know careful like we
26:57discussed
26:58uh what else uh nothing in consumption consumption not at all uh consumption i mean uh not too much i
27:11would say i mean you you can look at the likes of you know nika and uh uh trent and
27:17uh these kinds of
27:18v2 retail and uh those kinds of value retail uh stores as well uh but no i'm not very bullish
27:26on
27:26them then they're likely to do uh okay all right okay we leave you at that abhishek thank you so
27:32much
27:33for being with us and for sharing all these insights on the markets and the opportunities as well the
27:37nifty viewers is at 23,779 118 points lower is where we have seen the markets end at in case
27:45you too have
27:46any questions about your investments in stock markets in mutual funds your sips your gold related
27:52questions then please do send us your questions on the number that's flashing on your screens we'll
27:56be happy to get top market experts to guide you on your stock queries many thanks for tuning in
28:01we'll be back to track the markets tomorrow morning at 9 05 a.m
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