New Delhi: Yatin Mota says ZOMATO’s stock has risen due to the purchase of funds. The company has got a boost with Shiprocket becoming Unicorn. ZOMATO even after the block deal buying of funds on behalf of the fund is underway.
This stock was bought by Franklin, MOSL, HDFC MF Funds in July. Shiprocket raised $33 million. Shiprocket is a Zomato backed company. In December 2021, Zomato completed its acquisition of Shiprocket.
How many shares you need to buy
Axis Mutual Fund has bought 11.188 shares in ZOMATO. While ICICI Pru held 37,932 shares, UTI held 38 lakh shares, HDFC Mutual Fund Ltd. has bought 99.13 lakh shares, Nippon 702 crore shares, Franklin 2.54 crore shares and Motilal Oswal has bought 1.30 crore shares. If we look at the performance of this stock, ZOMATO has given a return of 19 percent to the investors in 1 week. Whereas in 1 month it has seen an increase of 28 percent.
Let us know what is the reason for the decline in pharma stocks in US?
Yatin Mota says that the pharma stocks have lost their mood due to the agreement on Ranitidine. Teva, Perrigo, Sun, DRL all these pharma companies will tie up with Joseph Bayer. The companies will enter into an agreement for about $5 million. The trial was to start from 22 August. Withdrawal of case against cancer and Gentech makers due to pre-trial settlement.
What was Joseph Bayer’s allegation?
Joseph Bayer had accused these pharma companies of causing cancer from the Zantac generic. They say that the cancer-causing NDMA element has been found in the Zantac generic.
Pressure on drug prices in America
Prices remain under pressure. A new law has been made to prescribe low-cost medicines.
Which stocks fell?
Shares of US pharma company TEVA have lost 9 percent due to the agreement on Ranitidine, while PERRIGO has seen a decline of 5.3 percent and TARO has seen a decline of 3.6 percent.
