Nifty Pharma stocks continued to outperform amid the bearish indices on Monday. The Index stretched last week’s winning streak to advance after a gap-up start on Monday.
Divis Lab led the gains followed by
Cadila and
Sun Pharma while
Auro Pharma dragged the most.
At around 1.14 pm, Nifty Pharma was trading at 13,536.25
up 67.00
points or 0.50%, after touching a high of 13,580.50 and low of 13,408.20 during intraday trade on Monday.
The sector has been doing well in recent times with huge demand in Covid-19 drugs and vaccines due to rising cases in India.
Divis Lab surged 1.7% at Rs4,131.00 per piece to lift the performance of the sector. Cadila, Torrent Pharma and Sunpharma also advanced around 0.6% to support the sector.
DR Reddy’s and Alkem Lab also gained over 0.5% while Lupin and Cipla also traded in the green.
Auro Pharma sank 1.03% at Rs970.70 per piece to drag while Biocon also dropped 0.36% on Monday.
Many Pharma companies have also been in news due to revision in acquisition in ABCD Technologies LLP (to be renamed as IndoHealth Services LLP).