Pharma stocks were in focus on Tuesday after Prime Minister Narendra Modi interacted and visited Covid-19 facility centres in some 6 companies. Investors sentiment globally has been lifted due to progress in Covid-19 vaccine.
At around 10.56 am, Nifty pharma trades at 11,977.85 up 138.70 points or 1.17%. The index has surged to an intraday high of 11,977.85.
On the index,
Sun Pharma was the lead gainer surging by nearly 4% and was trading at Rs530.10 per piece.
Aurobindo Pharma and Biocon were also in the fast lane advancing by 2% and 1.6% respectively.
Meanwhile,
Lupin and Cipla recorded near 1% gain each.
Stocks like
Torrent Pharma, Alkem Lab, Divis Lab and Dr Reddy's Lab surged marginally.
However,
Cadila Healthcare wiped off last week's record highs gain despite PM Modi reviewing its Covid-19 vaccine development facility. Cadila plunged by nearly 1% and was trading at Rs447.25 per piece becoming the sole underperformer on the index.
On November 28, PM reviewed the vaccine development and manufacturing process of 3 facilities. These are - Zydus Biotech Park in Ahmedabad, Bharat Biotech in Hyderabad and Serum Institute of India in Pune.
For Zydus Biotech Park where Zydus Cadila is developing DNA-based vaccine, Modi said, "I compliment the team behind this effort for their work. Government of India is actively working with them to support them in this journey."
Later on November 30, PM also interacted with 3 teams working on developing & manufacturing vaccine for COVID-19. These teams were from Gennova Biopharmaceuticals Ltd Pune, Biological E Ltd Hyderabad and
Dr Reddys Laboratories Ltd Hyderabad.