Shares in pharma companies, which have in the past witnessed a very lacklustre movement surged in trade today.
Aurobindo Pharma gained as much as 3.5 per cent, while Sun Pharma jumped 3.77 per cent and Cadila Health was up 3.4 per cent.
Most of the pharma sector stocks were trading with gains. Over the last few weeks, we have seen substantial decline in pharma shares on worries over US FDA and subdued margins from the US business.
Some pharma stocks like Glenmark have fallen to 52-week lows as well. Analysts believe that there is unlikely to be a swift recovery in pharma shares and it is likely to be a slow and gradual recovery.
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