Pharma Shares Outperform After RBI Eases Lending; Lupin, Cadila Hit 52-Week High

On liquidity support measures released by the central bank of the country at a time when saving lives has become a priority, Nifty scaled to over 14600 levels. Among sectoral indices, on easy lending to the health care sector and it beign now falling in the priority sector, the index today has been up over 3 percent in trade. Also, the index hit a fresh 52-week high of 13728.

Pharma Shares Outperform After RBI Eases Lending; Lupin, Cadila Hit 52-Week High

Individually, the top gainers from the pack include Sun Pharma, Lupin, Cadila Health, Aurobindo Pharma and Torrenr Pharma. In fact some of the stocks like Sun Pharma hit their 52-week high price of Rs. 679, surging over 5%. Lupin on the other hand was up over 12% again hitting new 52-week high of Rs. 1188.7. Cadila Healthcare on the other hand is some percentage points away from its 52-week high , but still trading higher by over 5%.

Aurobindo Pharma is up over 2% and Torrent Pharma also trading with gains of 4%.
The RBI has extended the Rs. 50000 crore on tap facility as part of which fresh lending support will be extended to an array of entities including manufactures, importers/suppliers of vaccines and priority medical devices; hospitals/dispensaries; pathology labs; manufacturers and suppliers of oxygen and ventilators; importers of vaccines and covid-related drugs; logistics firms and also patients for treatment, RBI said.

All loans will be classified as priority sector loans, till repayment or maturity. Banks can disburse these loans to borrowers directly or through intermediary financial entities regulated by the RBI.

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