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The Nifty50 has comfortably surpassed 17,000-17,100 in July and now market action will be guided by auto sales, PMI numbers and GST collection figures for cues as well as the outcome of the MPC meeting scheduled for August 5.

Cipla is on track to launch key products, such as gAdvair, gAbraxane, gRevlimid and three peptide products over FY23-24, it said, adding that the US sales run-rate will improve from H2FY23, and barring COVID-19, sales performance in India continues to be robust. The brokerage firm expects a revenue CAGR of 13 per cent, an EBITDA CAGR of 21 per cent and a PAT CAGR of 28 per cent over FY22-24E.

A total of 325,466 shares changed hands on the counter till time (IST).

The Nifty Pharma index was trading 0.26 per cent down at 12743.3.

Strides Pharma Science Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 3026.83 Crore) operating in Pharmaceuticals sector.

As of 30-Jun-2022, promoters held 74.99 per cent stake in the company, while FIIs held 8.59 per cent and domestic institutional investors had 6.33 per cent.

The stock has the potential to cross its psychological level of Rs 1000 in the near term. If it breaks Rs 1000 then we can expect Rs 1200 as the next susceptible level. On the downside, Rs 800 is the major support level.

Fortis Healthcare, Alkyl Amines Chemicals, Goodyear India and RCL Retail will have their annual general meetings (AGM) today. The boards of Easy Trip Planners will meet today to consider the Employees Stock Option Plan. Monday is the record date for dividends by Rossell India, Saksoft and Shilchar Technologies among others.

"Going forward, we believe earnings will continue to set the direction for the markets. The latest earnings disclosures by companies point to a healthy outlook for the markets in contrast to consensus analyst expectations. This gives us confidence that H2 will likely be better than H1. Markets have already digested several macroeconomic negatives."

“The pillars of growth which are domestic consumption, private sector capex and the make in India theme, will continue to drive the domestic economy and henceforth the markets and the profitability of corporates. We are talking about consumer discretionary, financials which benefit from the growth in credit, etc, and capex based on government and private sector spending.”