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Nifty Pharma Stocks Gain; Divi's Labs Hits New High

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As a result of GDP data, policy announcements, business results, and other macroeconomic indicators, the Nifty Pharma index has been performing positively.

 

At 12.50 p.m., the Nifty Pharma index was trading at 14,014.00, up 78.55 points or 0.56 percent. During Monday's early trading session, the index hit an intraday high of 14,071.30 and a low of 13,849.30.

The vaccine availability across India and manufacturing of the Sputnik vaccine has begun in India, which has boosted market enthusiasm in pharma equities.

Nifty Pharma Stocks Gain; Divi's Labs Hits New High

Divis Labs, the biggest performer, rose 1.67percent to Rs4,187 per piece followed by Biocon was the rising 1.49 percent to Rs387.85 apiece.

The consolidated earnings of Divi's Laboratories climbed to Rs502.02 crore in Q4FY21, up from Rs388.23 crore in Q4FY20. Revenue increased to Rs1,788.19 crore from Rs1,389.71 crore the previous year. Today, the pharma firm reaches a fresh all-time high of Rs4,284.20 per share.

Torrent Pharma and Alkem Laboratories were also up, while Lupin and Dr Reddys were also up somewhat. Sun Pharma had a good day, rising 0.20 percent helping to strengthen the index.

Heavyweight, on the other hand, dragged the index down. Cadila Healthcare, the top underperformer fell 0.57 percent to Rs 617 per share.

 

The NIFTY Pharma Index is intended to reflect India's pharmaceutical sector's behavior and performance.

Read more about: nifty pharma
Story first published: Monday, May 31, 2021, 13:02 [IST]
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