India Markets: Dr Reddy's halts semaglutide, IndiGo warned, DMart profit rises
Indian blue-chips face mixed headwinds as Dr Reddy's halts a key weight-loss drug supply, IndiGo draws a regulator's warning, while DMart posts steady quarterly profit.
Dr Reddy’s Laboratories has halted commercial supplies of its generic semaglutide injection until at least October. The drugmaker identified unspecified impurities in the active pharmaceutical ingredient during a manufacturing scale-up process. For investors, the delay represents a critical missed opportunity in the lucrative global market for GLP-1 weight-loss drugs, ceding ground to competitors during a peak demand period.
InterGlobe Aviation, the parent of budget carrier IndiGo, disclosed a warning letter from the Directorate General of Civil Aviation following a recent audit. The regulator flagged deviations from standard operating procedures, including breaches of the Aircraft (Carriage of Dangerous Goods) Rules, 2026. The filing raises immediate compliance questions for India’s largest airline, though the specific operational and financial penalties remain unclear.
Avenue Supermarts, which operates the DMart supermarket chain, posted an 11.3% year-on-year rise in consolidated net profit for the June quarter. Profit reached Rs 860.6 crore, up from Rs 773 crore in the same period last year. The steady growth underscores the retailer's ability to maintain profitability despite competitive pressures in the Indian retail sector.
State-run power giant NTPC is pushing forward with a major capacity expansion, with its board approving a Rs 20,456.70-crore investment for the 1,600 MW Lara Super Thermal Power Project Stage-III in Chhattisgarh. The capital outlay aligns with NTPC's broader strategy to modernize its fleet. The utility is actively seeking technology solutions to enable its sub-critical thermal plants to operate at lower loads, facilitating a smoother integration of intermittent renewable energy into the grid.
HDFC Bank is reallocating its workforce, moving employees from backend operations to customer-facing roles. Managing Director and CEO Sashidhar Jagdishan noted in the bank's latest annual report that technology-driven efficiencies have freed up operational capacity. The shift signals the lender's focus on leveraging digitization to drive frontline growth without proportional increases in total headcount.
