Daily Brief India: Emcure Pharmaceuticals, HDFC Bank and more

• Emcure Pharmaceuticals raised around US$240m in its India IPO. Subscription rates were strong.
• Emcure Pharmaceuticals (EP) is an Indian Pharmaceutical company engaged in the developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.
• We have looked at the company’s past performance in our earlier note. In this note, we talk about the trading dynamics.

• HDFC Bank is the largest private sector bank in India known for its strong track record of compounding book value and EPS
• The recent merger with Housing Development Finance Company initially received positive market reaction but has since caused a decline in HDFC Bank’s stock price
• Despite the stock underperformance, the merger offers potential cross-selling opportunities and a bright future for HDFC Bank

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.