Pharma Stock Rise, Dr.Reddys Jump 5pc

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Shares of Pharma companies were moving in the bullish territory during the afternoon session, in the otherwise weak market on Monday.

The Nifty Pharma index was trading higher by 1.82 percent at 8,444.35 at around 3-pm. Meantime, Sensex slipped near 399 points and the Nifty dropped 110 points.

Shares of Dr.Reddys Laboratories demonstrated a surge by 5.22-pc, Aurobindo pharma added2.62 percent, Glenmark Pharmaceuticals rose 2.18-pc and Lupin rose 2 percent as the top index gainers in the Nifty Pharma shares.

Shares of Dr. Reddy’s Laboratories rose today after the pharma company posted a loss of Rs.569.7-crore in the Q3FY20, as against a net profit of Rs485.2cr, while its revenue advanced to 14-pc, year-on-year to Rs.4,384cr in Q3FY20.

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In addition, Cipla, Piramal Enterprises, Divis Lab, Cadila Health care and Sunpharma have recorded gains in the Nifty Pharma index between 1 to 1.80 percent in range. However, Biocon shares slipped marginally by near half percent at Rs293-per share.

Meantime, benchmark Sensex dropped at 41219-level, up 393 points and the NSE Nifty scaled down by 119 points at 12128-mark.Get more information stock market tips visit our website

In the 50-scrip of the Nifty, only 14 shares witness buying pressure, while the rest 36 stocks see increased selling.

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