Despite the key indices shedding 900 points on the Sensex, pharma shares continued to advance led by rally in stocks such Aurobindo Pharma, Divis Lab.
In the morning trade, share of Arurobindo Pharma hit a upper circuit of Rs. 594.60 per share on the BSE. This is after the company's IV facility in Hyderabad has been classified as Voluntary Action Indicated (VAI), the company informed in its filing to the exchanges.
Aurobindo Pharma also got the final approval from the US drug regulator for manufacturing and marketing Fluoxetine Tablets, 10 mg and 20 mg. Fluoxetine tablets are generic version of Eli Lilly's Prozac® tablets, the company added.
In fact some of the stocks from the pack including Sun Pharma, Divis Pharma, Dr. Reddy's have again hit 52-week high.
Nifty Pharma hit an intra-day high of 9561 against previous close of 9149.