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    531349   INE922B01023

PANACEA BIOTEC LIMITED

(531349)
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Indian shares rise on lower virus cases, vaccines boost; financials jump

07/05/2021 | 12:40am EDT

BENGALURU, July 5 (Reuters) - Indian shares kickstarted the week higher on Monday, with financial stocks seeing strong gains, as falling COVID-19 infections and indications of more availability of vaccines raised hopes of a sustained reopening of the economy.

By 0347 GMT, the blue-chip NSE Nifty 50 index and the benchmark S&P BSE Sensex were up 0.43% each at 15,790.70 and 52,711.21, respectively. Both the indexes shed 0.87% last week.

The Nifty Bank index added 0.74%, boosted by top lenders HDFC Bank and Axis Bank.

Panacea Biotec soared 9% after the biotechnology firm got the Indian drug regulator's nod to make the Russian Sputnik V vaccine.

The Economic Times reported that Moderna's COVID-19 vaccine was likely to reach India this week and will be available in few major government hospitals by July 15.

Meanwhile, India's Bharat Biotech said over the weekend that its vaccine, Covaxin, showed 93.4% efficacy against severe COVID-19 in late-stage trials.

Investors now await the Markit composite and services PMI (Purchasing Managers Index) data — an indicator that helps predict economic trends in the rapidly developing services sector — due later in the day.

Among other shares, DMart owner Avenue Supermarts rose 2.4% after the supermarket chain posted a 31% rise in June-quarter revenue, while agrochemical firm India Pesticides jumped 18.2% in its market debut.

Asian markets extended their rally and took global equities to a record high after a U.S. jobs report signalled that the economic recovery remained intact. (Reporting by Shivani Singh in Bengaluru; editing by Uttaresh.V)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AVENUE SUPERMARTS LIMITED -8.00% 4897.8 Delayed Quote.92.64%
MODERNA, INC. 3.28% 334.84 Delayed Quote.210.34%
PANACEA BIOTEC LIMITED -1.74% 265.95 End-of-day quote.11.11%
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Financials
Sales 2021 6 248 M 83,1 M 83,1 M
Net income 2021 -1 477 M -19,6 M -19,6 M
Net Debt 2021 7 632 M 102 M 102 M
P/E ratio 2021 -7,36x
Yield 2021 -
Capitalization 16 290 M 216 M 217 M
EV / Sales 2020 2,52x
EV / Sales 2021 2,96x
Nbr of Employees 2 473
Free-Float 14,0%
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Managers and Directors
Rajesh Jain Joint Managing Director & Executive Director
Sandeep Jain Joint Managing Director & Executive Director
Vinod Goel Group CFO, Secretary & Compliance Officer
Devender Gupta CFO & Head-Information Technology
Soshil Kumar Jain Chairman