Nifty Pharma Index was under pressure on Wednesday for the second consecutive day amid volatile trade. However, Healthcare stocks surged over 1% on the back of the best ever performance from
Apollo Hospitals Enterprises (AHEL) post Q2 earnings.
Metropolis Healthcare was also bullish.
Torrent Pharma and
Biocon were also in the fast lane.
IPCA Labs, Lupin, Glenmark, Star, Auro Pharma, and Divis Lab were under pressure.
Sensex wiped off opening losses due to weak Asian peers. At around 11.12 pm, BSE Sensex was trading at 60,367.58 up 45.21 +points or 0.07% and Nifty50 at 18,002.25 up 3.05 points or 0.02%.
Nifty Pharma was trading at 13,739.90
down 58.90
points or 0.43%
and Healthcare at 8,846.20
up 96.70
points or 1.11
%. Shares AHEL continued at their upward march, with the stock hitting a fresh record high of Rs5,844 per piece on the NSE on Wednesday. The company stock skyrocketed 13.5% at Rs5,782.95 per piece after the company reported a strong set of numbers for the quarter ended September 2021 (Q2FY22).
Apollo Hospitals consolidated net sales grew by 34.6% to Rs3,717cr in Q2FY22 from Rs2,760.72cr posted in Q2FY21. Profit before tax stood sharply higher at Rs382.99cr in Q2FY22 as compared to Rs65.60cr recorded in Q2FY21, registering a 483% jump.
Metropolis jumped 3.6% at Rs3,260.00 per piece to lift the performance of the Healthcare Index. Torrent Pharma also rose 1.5% at Rs2,830.45 per piece to outperform.
Biocon advanced 1% higher at Rs373.15 per piece. The company subsidiary Biocon Biologics, and Viatris launched interchangeable biosimilars SEMGLEE (insulin glargineyfgn) injection, a branded product, and Insulin Glargine (insulin glargine-yfgn) injection, an unbranded product, to help control high blood sugar in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes, in the US.
IPCA Labs dragged the most at Rs2,110.95 per piece, down 2%. Lupin was 1.5% down at Rs917.60 per piece. Glenmark was 1.3% lower at Rs510.65 per piece. Auro Pharma, Star and Divis Lab also shed over 1%.