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India’s largest drug maker Sun Pharmaceutical Industries is getting ready to start the trials on a few drugs that have emerged as potential treatment candidates for Covid-19. This includes an anti-coagulant and anti-inflammatory drug nafamostat and another plant-based dengue drug candidate that was developing along with government research institutes.

stock was up 3.5 per cent on BSE on Friday.

On Friday, said that it received the nod from the country’s drug regulator to initiate a clinical trial with nafamostat mesilate in Covid-19 patients. These will be phase II clinical trials on about 40 patients. This drug is approved in Japan for improvement of acute symptoms of pancreatitis as well as for treatment of DIC (Disseminated Intravascular Coagulation).

Basically, it is an anti-coagulant drug that has potential anti-inflammatory and anti-viral activities against Covid-19.

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have seen strong gains this week with the index surging nearly 11 per cent in the last three trading sessions (starting May 23). In comparison, the Nifty50 is up 5 per cent.

The gains come after huge selling pressure and consequent under-performance of since the start of March. The financial sector, banks and non-banking finance companies (NBFCs), are seen to be most impacted due to the Which is why, the lost 41 per cent between February 28 and May 22, compared to a 19 per cent decline in Nifty50 (see table). Some individual bank stocks had seen bigger losses, ranging 45 – 52 per cent; IndusInd Bank was down nearly 70 per cent, during this period.

“There were some institutions, which were selling financial stocks over the last month and a half.

The bond market is signalling a rocky road ahead for both and its British subsidiary, (JLR), as they struggle with sales. The yield on JLR bonds has more than doubled since the pandemic blew out of proportion in early March and is refusing to cool down.

JLR bonds are trading at record yield of 13.2 per cent — one of the highest in the automotive industry, nearly three times that of and 10 times that of This, the analysts said, will make it tough for JLR to raise additional funding to plug the hole in its cash flows due to plant closures. The British company has already sought a dole from the UK government worth £1 billion to tide over the financial crisis.

Analysts say if the JLR is forced to borrow at its current bond yield,

The initial public offering (IPO) market is expected to remain moribund even as share sales in large listed firms rake in billions of dollars. Investment bankers say the IPO market freeze could extend till the end of this year despite several concessions given by market regulator Securities and Exchange Board of India (Sebi). On the other hand, there is healthy appetite for shares in listed companies with leadership position in their respective sectors, they add.

Last month, Sebi decided to extend the validity by six-month for whose validity expire between March 1 and September 30. The move is set to benefit about a dozen companies, who were cumulatively looking to raise about Rs 15,000 crore. Some of these companies include Shriram Properties, Bajaj Energy, Angel Broking, and Indian Renewable Energy Development Agency.

Investment bankers said while the extension is a welcome move, many companies have

Wealth managers are advising clients to park thein money in US-oriented offshore investment products for exposure to and healthcare businesses that are likely to benefit from the disruptions and challenges caused by the Covid-19 pandemic.

“Following the outbreak of Covid-19, the rate of digital transition has increased significantly in the past two months. Investors are also now more receptive to international products, as the weak returns have reduced the home bias,” said Ankur Maheshwari, chief executive officer of Equirus

Experts say the large stimulus package expected in US will help revive that country’s economy.

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Over a one-year period, the international category of funds has given returns of 6.8 per cent, whereas domestic-oriented large-cap funds have seen negative returns of

Foreign portfolio investors (FPIs) are once again stepping on the gas when it comes to pulling out of Indian In the past fortnight, they have yanked out $1.7 billion amid disappointment over the Rs 20-trillion stimulus package and rising Covid-19 cases, despite multiple lockdown extensions.

The two-week rolling average for daily flows is currently at (negative) — $205 million — worst since March-end, when foreign institutional investment selling was at its peak due to major global risk aversion.

Since mid-April, FPI investment rally had improved, following aggressive stimulus measures announced by global central banks. While global liquidity conditions are benign, experts say are preferring to invest in countries which have been more effective in combating Covid-19 and with better stimulus measures.

“Several countries have started easing Covid-19-related containment measures. In some cases, despite uptrend in infections.