Eli Lilly’s Foundayo seen generating billions, challenging Novo’s Wegovy

by Hansraj Agrawal | Apr 2, 2026 | Business

Eli Lilly’s newly approved weight-loss pill, Foundayo (orforglipron), is expected to generate billions in sales and emerge as a strong competitor to Novo Nordisk’s oral Wegovy.
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Antranik Tavitian

Eli Lilly’s newly approved weight-loss pill is expected to generate billions in sales as soon as this year, with analysts betting it will quickly narrow Novo Nordisk’s head start in the oral market.

Strong sales projections for new drug

Brokerages estimate 2026 sales of Lilly’s orforglipron, branded Foundayo, with the wide range reflecting both an expectation of strong demand and uncertainty around the early stages of the launch.

Among the more bullish forecasts on Wall Street is Bernstein, which estimates the drug could generate $2 billion to $2.5 billion in its first full year. Citi analysts are even more upbeat, projecting about $2.8 billion in 2026 revenue and seeing peak annual sales exceeding $40 billion.

More conservative estimates include those from Guggenheim Partners, which projects around $1.5 billion for 2026.

Competitive landscape shifts in obesity market

But, even at the lower end, the pill is expected to reshape the competitive landscape.

UBS estimates that Lilly’s drug and Novo’s oral version of Wegovy together will generate about $5 billion in 2026, signaling the emergence of a sizable new oral class.

Foundayo comes with easier manufacturing and fewer dosing restrictions, positioning it as a strong challenger to Novo.

Strong demand for oral options and scalability advantages could help Foundayo become the leading pill option, especially internationally, J.P. Morgan analysts said, forecasting sales to surge to $6 billion by 2027.

Launch dynamics and market outlook

However, early uptake may be tempered by launch dynamics.

Bernstein analysts noted that free sampling, lower initial dosing and pricing adjustments could weigh on near-term revenue even as prescription volumes ramp up. Weekly new-patient starts will be closely watched by the market as a key indicator of trajectory, they added.

The launch also comes as Novo’s oral Wegovy benefits from first-mover advantage and brand recognition, helping it capture early adopters in the market.

In the long term, analysts see oral drugs expanding the reach of obesity treatments. Morningstar estimates obesity pills could account for about a third of a projected $180 billion global market by 2034.

Published on April 2, 2026

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INR strengthens over 1.5% after RBI measures; Rebounds under 93/$ mark during intra day moves

by Hansraj Agrawal | Apr 2, 2026 | Share Market

Last Updated : Apr 02 2026 | 5:04 PM IST

The Indian rupee logged one of its steepest single-day gains in many years and settled 156 paise higher at 93.14 (provisional) against the US dollar on Thursday after the Reserve Bank stepped in with a slew of measures to restrict banks from onshore forward markets. INR hit a high of 92.82 at one point of time. The dollar index regained momentum above 100 mark on Thursday, after a sharp drop in the previous session. Trump speech has created a sense of uncertainty, driving investors back to safe haven dollar. Meanwhile, domestic markets staged a gap-down opening, with benchmark indexes Sensex and Nifty declining around 2 percent in early trade, as U.S. President Donald Trump’s address to the nation on the war in the Middle East damped hopes for a swift resolution to the conflict. The domestic unit, however, remained under pressure due to the unabated withdrawal of foreign capital, a strengthening dollar, and rising crude oil prices amid a volatile geopolitical situation. At the interbank foreign exchange, the rupee opened at 94.62 and registered a sharp single-day surge of 188 paise to touch an intra-day high of 92.82 against the greenback. At the end of the session, the rupee was quoted at 93.14 (provisional) against the dollar, higher by 156 paise, or 1.6 per cent, from its previous closing level.

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Apr 02 2026 | 5:04 PM IST

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BMW surges, Audi slumps as India’s luxury EV market splits in FY26

by Hansraj Agrawal | Apr 2, 2026 | Business

BMW India more than doubled its EV sales to 3,537 units in FY26

India’s luxury passenger EV market is splitting sharply in FY26, with BMW scaling to record highs even as Audi’s volumes have collapsed, exposing a widening gap in how automakers are executing their electric strategies, industry observers said.

The sharp change in the numbers as seen on the Vahan portal shows BMW India more than doubled its EV sales to 3,537 units in FY26, up from 1,580 units a year earlier, lifting its market share to a commanding 65 per cent from 47 per cent.

In contrast, Audi’s volumes fell sharply to just 17 units from 131 in FY25, marking one of the steepest declines in the segment.

The contrast, in many ways, captures the rise of BMW and the fall of Audi in India’s luxury EV market, analysts said.

The gap with other competitors has also widened. Mercedes-Benz India, the segment’s traditional leader in overall luxury vehicles, saw its EV sales decline 10 per cent on-year to 1,047 units, with its market share dropping to 19 per cent from 34 per cent.

The decline reflects a combination of supply constraints and pricing pressures. Industry observers said a shift in buyer preference at the top end, where diesel-powered models continue to dominate, has also limited the addressable market for high-end EVs.

Entry-level iX1

In contrast, BMW has been able to drive EV volumes through competitively priced entry-level offerings such as the iX1, which accounts for a significant share of its sales. Analysts said BMW’s ability to position EVs closer to their internal combustion counterparts has reduced the friction for first-time luxury EV buyers.

Volvo, the third-largest player, reported a 5 per cent decline in EV volumes to 382 units, with its share slipping to 7 per cent from 12 per cent. While the XC40 Recharge continues to perform steadily, industry observers said the brand is facing increasing competition from newer and more aggressively positioned offerings.

Tesla, entering the market with 342 units, has emerged as a new disruptor. While still in a limited rollout phase, its tech-first positioning is drawing interest from buyers, particularly those considering premium EVs from traditional luxury marques, analysts said.

Winner-takes-most

Taken together, the data suggest the market is not expanding evenly but tilting towards a winner-takes-most dynamic, where early scale advantages are translating into disproportionate gains, analysts said.

BMW’s outperformance is not accidental. Analysts point to its “power of choice” strategy — offering petrol, diesel, and electric powertrains on shared platforms — as a key advantage, allowing it to scale EV volumes in line with demand without overcommitting to a single architecture.

This has been supported by local assembly and aggressive pricing, which have helped narrow the gap between internal combustion and electric models. Entry-level products such as the iX1 have lowered the barrier for entry, while a broad portfolio spanning entry-level SUVs to flagship limousines has enabled BMW to tap multiple customer segments, industry observers said.

Chauffeur-driven

At the top end, models such as the i7 are also seeing increasing traction, particularly among chauffeur-driven buyers, reflecting a gradual shift in usage patterns.

The divergence, therefore, is not just about demand, but about how effectively each automaker is translating strategy into scale. BMW has focused on localisation, pricing, and portfolio breadth, while competitors are balancing premium positioning with the need to build EV volumes, analysts said.

Yet, the broader luxury car market tells a different story. Mercedes-Benz retained its leadership in total passenger vehicle sales with 18,145 units in FY26, while BMW ranked second with 17,299 units, highlighting a structural shift as EVs begin to reshape competitive dynamics.

EV penetration within the luxury segment remains modest at 2.71 per cent, down from 3.08 per cent a year earlier, indicating that the transition is still at an early stage, infomed sectorial experts.

Published on April 2, 2026

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Ganesh Consumer Products shares up after promoter lifts stake

by Hansraj Agrawal | Apr 2, 2026 | Business

Shares of Ganesh Consumer Products Limited were trading higher on Thursday. The company disclosed that its promoter and Managing Director Manish Mimani purchased 2,95,314 equity shares through open market transactions on the NSE on March 31, 2026.

As of 12.28 PM, the stock was trading at ₹174.51, up 0.11 per cent from its previous close of ₹174.32, after touching an intraday high of ₹177.38. The stock opened at ₹173.50 and has seen a traded volume of 0.78 lakh shares with a traded value of approximately ₹1.36 crore so far in the session. Total market capitalisation stands at ₹705.25 crore.

The disclosure, filed under Regulation 7(2) of SEBI’s Prohibition of Insider Trading Regulations, 2015, revealed that Mimani’s stake rose to 5.74 per cent, while overall promoter and promoter group holding increased from 64.08 per cent to 64.81 per cent following the transaction valued at approximately ₹4.99 crore.

Despite today’s mild uptick, the stock remains under pressure on a broader timeframe. It has declined roughly 22.93 per cent year-to-date and sits well below its 52-week high of ₹309.95 touched on October 6, 2025. The 52-week low of ₹152.00 was recorded as recently as March 16, 2026.

The Kolkata-based packaged staple food company, listed on NSE and BSE on September 29, 2025, operates seven manufacturing plants with a combined daily capacity of approximately 1,432 MT. It is the largest player in wheat-based products in Eastern India under its flagship “Ganesh” brand. Order flow currently shows a marginal sell-side tilt at 51.92 per cent versus 48.08 per cent on the buy side.

Published on April 2, 2026

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Powerica shares list at 5-7% discount on BSE, NSE

by Hansraj Agrawal | Apr 2, 2026 | Business

Powerica shares made a weak debut on the stock exchanges on Thursday, and closed 1.2 per cent below the issue price after posting some intraday gains.

On the NSE, the stock listed at a 7.3 per cent discount at ₹366 compared to the offer price of ₹395, and on the BSE, it opened at a 5 per cent discount at ₹375.

The stock then settled at ₹390 on both NSE and BSE,, remaining below its issue price despite the upward movement.

Shivani Nyati, Head of Wealth at Swastika Investmart, said the weak debut signals muted sentiment and possible supply pressure despite a reasonably subscribed IPO.

Nyati noted that while the company benefits from an established generator business and global partnerships with Cummins and Hyundai, elevated debt of ₹1,214 crore remains a concern, though partial repayment through IPO proceeds should support the balance sheet.

In the near term, Nyati expects the stock to remain volatile, with the ₹360–₹370 zone acting as support and ₹375–₹395 as a key resistance band. She advised a cautious approach, recommending holding the stock only for those with higher risk appetite while avoiding aggressive fresh buying unless it sustains above ₹395.

Dr Ravi Singh, Chief Research Officer (Research), Master Capital Services, advised investors with a long-term view can consider holding the stock, while those with a cautious approach may wait for some price stability before making fresh investments.

The ₹1,100-crore initial public offering of Powerica saw a decent response from investors, with an overall subscription of 1.53 times. The IPO was priced in the range of ₹375 to ₹395 per share and comprised a fresh issue of up to ₹700 crore along with an offer-for-sale of up to ₹400 crore by promoters, including the Naresh Oberoi Family Trust and Kabir and Kimaya Family Private Trust.

Ahead of the public issue, the company raised ₹329.40 crore from anchor investors, allocating 83,39,239 equity shares at ₹395 apiece. Participation from prominent institutional investors such as SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Kotak Mutual Fund and others, along with insurance players like Kotak Mahindra Life Insurance, Edelweiss Life Insurance and Reliance Nippon Life Insurance, highlighted institutional interest in the offering.

Proceeds from the fresh issue are slated to be used primarily for debt repayment and general corporate purposes. Powerica operates as an integrated power solutions provider with a generator set business driven by Cummins-powered DG sets and large generators developed in collaboration with Hyundai. The company also has a presence in the wind energy segment as an independent power producer and EPC contractor.

As per its prospectus, Powerica owns and operates 12 wind power projects in Gujarat with a total installed capacity of 330.85 MW. It is also in the process of developing an additional 52.70 MW project, which will take its total capacity to 383.55 MW.

ICICI Securities acted as the book-running lead manager for the issue, while MUFG Intime India served as the registrar.

Published on April 2, 2026

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