Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Equity Bottom-Up

<ul>
<li>51 companies recorded insider acquisitions in September 2026 — the broadest monthly cohort in recent months.</li>
<li>We highlight large and small cap companies that experienced significant insider buying during September 2026, as reported on the stock exchanges.</li>
<li>We also present key sectors which saw insider buying during the month along with names which have moved significantly above/below the insider buying price.</li>
</ul>


51 companies recorded insider acquisitions in September 2026 — the broadest monthly cohort in recent months.
We highlight large and small cap companies that experienced significant insider buying during September 2026, as reported on the stock exchanges.
We also present key sectors which saw insider buying during the month along with names which have moved significantly above/below the insider buying price.


Insider Activity: Who Is Buying Their Own Stock During the Market Correction? – September 2026

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Event-Driven

HealthCare Global Enterprises / Event-Driven

<ul>
<li>The Supreme Court has questioned medicine markups and sought government consideration of wider margin restrictions; a universal 16% cap is not yet established.</li>
<li>Earnings exposure depends on drug billing, procurement economics, and contract terms, while restrictions on captive pharmacy purchases could create a separate volume risk.</li>
<li>Investors should distinguish recoverable earnings pressure from weaker pricing power, then assess whether expansion returns justify existing valuation assumptions.</li>
</ul>


The Supreme Court has questioned medicine markups and sought government consideration of wider margin restrictions; a universal 16% cap is not yet established.
Earnings exposure depends on drug billing, procurement economics, and contract terms, while restrictions on captive pharmacy purchases could create a separate volume risk.
Investors should distinguish recoverable earnings pressure from weaker pricing power, then assess whether expansion returns justify existing valuation assumptions.


Supreme Court Drug-Pricing Scrutiny in India: Which Hospital Earnings Are Actually Exposed?

Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>Insilico Medicine entered into outlicensing agreement for ISM8969 with Hygtia Therapeutics for upfront and milestone payment of $66M. Daiichi Sankyo’s Enhertu got its sixth indication approval in China.</li>
<li>Shionogi will pick up Pfizer’s 11.7% stake in HIV-focused ViiV Healthcare for $2.1B. Alteogen signed an exclusive license agreement with GSK’s subsidiary Tesaro for ALT-B4 for upfront payment of $20M.</li>
<li>HK inno.N completes enrolment for Phase 3 clinical trial for its once-weekly GLP-1 obesity drug candidate, IN-B00009. Sun Pharmaceutical has received approval for generic version of semaglutide injection in India.</li>
</ul>


Insilico Medicine entered into outlicensing agreement for ISM8969 with Hygtia Therapeutics for upfront and milestone payment of $66M. Daiichi Sankyo’s Enhertu got its sixth indication approval in China.
Shionogi will pick up Pfizer’s 11.7% stake in HIV-focused ViiV Healthcare for $2.1B. Alteogen signed an exclusive license agreement with GSK’s subsidiary Tesaro for ALT-B4 for upfront payment of $20M.
HK inno.N completes enrolment for Phase 3 clinical trial for its once-weekly GLP-1 obesity drug candidate, IN-B00009. Sun Pharmaceutical has received approval for generic version of semaglutide injection in India.


APAC Healthcare Weekly (January 25) – InSilico, Daiichi, Shionogi, Alteogen, HK Inno, Sun Pharma

<ul>
<li>InnoCare Pharma granted global rights to Zenas BioPharm to develop and commercialize an experimental drug, orelabrutinib for multiple sclerosis and other autoimmune conditions. The deal is worth of $2B+.</li>
<li>Daiichi Sankyo submitted application for additional indication of Enhertu as first-line therapy for HER2 positive breast cancer in Japan. Celltrion got FDA clearance for its Eylea biosimilar, Eydenzelt.</li>
<li>Mesoblast announced gross revenue of $22M from Ryoncil for the quarter ended September 30, 2025, up 66% QoQ. Lupin will invest $250M for new pharmaceutical manufacturing plant in Florida.</li>
</ul>


InnoCare Pharma granted global rights to Zenas BioPharm to develop and commercialize an experimental drug, orelabrutinib for multiple sclerosis and other autoimmune conditions. The deal is worth of $2B+.
Daiichi Sankyo submitted application for additional indication of Enhertu as first-line therapy for HER2 positive breast cancer in Japan. Celltrion got FDA clearance for its Eylea biosimilar, Eydenzelt.
Mesoblast announced gross revenue of $22M from Ryoncil for the quarter ended September 30, 2025, up 66% QoQ. Lupin will invest $250M for new pharmaceutical manufacturing plant in Florida.


APAC Healthcare Weekly (October 12) – InnoCare, Daiichi Sankyo, Celltrion, Mesoblast, Lupin

<ul>
<li>The Indian hospital sector is entering an aggressive expansion phase with top hospitals adding 32% to their bed base by FY27E, supported by brownfield and stronger return ratios.</li>
<li>With medical tourism offering 67–91% cost arbitrage versus global peers and insurance penetration gradually deepening, hospitals are positioned to capture both domestic and international demand profitably.</li>
<li>From being seen as defensive and “boring,” hospitals are transforming into high-growth, cash-generating businesses. Robust balance sheets and rising ARPOBs suggest that hospital chains are entering a golden growth cycle.</li>
</ul>


The Indian hospital sector is entering an aggressive expansion phase with top hospitals adding 32% to their bed base by FY27E, supported by brownfield and stronger return ratios.
With medical tourism offering 67–91% cost arbitrage versus global peers and insurance penetration gradually deepening, hospitals are positioned to capture both domestic and international demand profitably.
From being seen as defensive and “boring,” hospitals are transforming into high-growth, cash-generating businesses. Robust balance sheets and rising ARPOBs suggest that hospital chains are entering a golden growth cycle.


Thematic Report on Indian Hospitals - Boring but Beautiful?

United Arab Emirates

Aster DM Quality Care is an India-based integrated healthcare provider, offering multi-specialty healthcare services through a network of hospitals, clinics, pharmacies, and diagnostic centers across several Indian states. The company focuses on providing primary, secondary, tertiary, and quaternary care, with specialized centers of excellence in various medical fields. It was founded in 1987 as a single doctor clinic in Dubai, with India operations commencing in 2001, and is headquartered in Bengaluru, Karnataka, India.

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Aster DM Quality Care (ASTERDM IN)

Insider Activity: Who Is Buying Their Own Stock During the Market Correction? – September 2026

Insight on insider buying in Sep 2026 — the broadest monthly cohort in recent months -highlighting key sectors along with names which have moved...

Sreemant Dudhoria

Supreme Court Drug-Pricing Scrutiny in India: Which Hospital Earnings Are Actually Exposed?

As the Supreme Court targets hospital drug markups, which earnings are actually exposed? Read our breakdown of true margin risks beyond headline...

Nimish Maheshwari

APAC Healthcare Weekly (January 25) – InSilico, Daiichi, Shionogi, Alteogen, HK Inno, Sun Pharma

InSilico entered outlicensing deal. Daiichi’s Enhertu got China approval for 6th indication. Shionogi will pick up Pfizer’s stake in ViiV...

Tina Banerjee

APAC Healthcare Weekly (October 12) – InnoCare, Daiichi Sankyo, Celltrion, Mesoblast, Lupin

InnoCare stuck outlicensing deal with Zenas Bio. Daiichi Sankyo filed for label expansion of Enhertu in Japan. Celltrion got FDA nod for Eylea...

Tina Banerjee

Thematic Report on Indian Hospitals - Boring but Beautiful?

Indian hospitals are aggressively expanding, with strong growth potential driven by medical tourism and insurance penetration, transforming into...

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Insider Activity: Who Is Buying Their Own Stock During the Market Correction? – September 2026

Insight on insider buying in Sep 2026 — the broadest monthly cohort in recent months -highlighting key sectors along with names which have moved...

Sreemant Dudhoria

Supreme Court Drug-Pricing Scrutiny in India: Which Hospital Earnings Are Actually Exposed?

As the Supreme Court targets hospital drug markups, which earnings are actually exposed? Read our breakdown of true margin risks beyond headline...

Nimish Maheshwari

APAC Healthcare Weekly (January 25) – InSilico, Daiichi, Shionogi, Alteogen, HK Inno, Sun Pharma

InSilico entered outlicensing deal. Daiichi’s Enhertu got China approval for 6th indication. Shionogi will pick up Pfizer’s stake in ViiV...

Tina Banerjee

APAC Healthcare Weekly (October 12) – InnoCare, Daiichi Sankyo, Celltrion, Mesoblast, Lupin

InnoCare stuck outlicensing deal with Zenas Bio. Daiichi Sankyo filed for label expansion of Enhertu in Japan. Celltrion got FDA nod for Eylea...

Tina Banerjee

Thematic Report on Indian Hospitals - Boring but Beautiful?

​Indian hospitals are aggressively expanding, with strong growth potential driven by medical tourism and insurance penetration, transforming into...

Nimish Maheshwari

Indian hospitals are aggressively expanding, with strong growth potential driven by medical tourism and insurance penetration, transforming into...