Pharma stocks show revival
DSIJ Intelligence / 16 Oct 2017
The pharma stocks witnessed broad-based upsurge, wherein investors seemed to see value buys in mid-cap and small cap stocks.
A long awaited resurgences was seen in the pharma and healthcare stocks, with Suven Life Sciences leading the pack and moving up by around 12%.
The S&P BSE Healthcare index was at 14,212.75, trading higher by 155.61 points or 1.11% on Monday at 14:53 IST. Suven Life Sciences was trading at Rs. 216.80 per share, up by Rs. 19.30 or 9.77%. The stock has seen a volume spurt with a rise of 490.81% compared with 5-day average volume at 03:00 IST. The stock also a new 52-week high of Rs 229.00.
The pharma stocks witnessed broad-based upsurge, wherein investors seemed to see value buys in mid-cap and small cap stocks. Among them were Bliss GVS Pharma was up by 4.60% at Rs. 164.75 per share; Lincoln Pharmaceuticals was up by 3.01% at Rs 191.50 per share; Granules India was up 2.94% at Rs. 140.10; Panacea Biotec was up by 2.42% at Rs. 226.35.
Meanwhile, the stock of Glenmark Pharmaceuticals, moved on the back of the news that the company's US subsidiary has been granted final approval by the USFDA for Aprepitant Capsules. The stock of Glenmark was trading at Rs. 612.00 per shared, higher by 1.46%.
Blue chip pharma stocks like Sun Pharma and Dr. Reddy Labs also showed positive movement. Sun Pharma was trading at Rs. 548.55, up by 2.59%, while Dr. Reddy Labs was at Rs. 2,396 per share, higher by 1.88% on Monday.
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