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Pharma shares jump as Nifty Pharma climbs 1.65% on Monday
Tatva Chintan Pharma Chem surged 20% to a fresh 52-week high of ₹1,714.10 on the BSE after strong Q1 results.
Pharma stocks rose sharply in India on Monday even as sentiment in the broader market stayed weak, with strong buying pushing the Nifty Pharma index up 1.65%. LiveMint Markets said the rally was powered by momentum across the sector.
Torrent Pharmaceuticals and Mankind Pharma led gains on the Nifty Pharma index, each rising more than 3%. Multiple large pharma names, including Cipla, Divi's Laboratories, Laurus Labs, Alkem Laboratories and Sai Life Sciences, climbed more than 2%, while Zydus Lifesciences, Aurobindo Pharma and Ajanta Pharma gained over 1%.
Among other pharma companies, LiveMint Markets reported that RPG Life Sciences, Thyrocare Technologies, Hester Biosciences, Onesource Specialty Pharma and Neuland Laboratories shares surged as much as 7%. Separately, Tatva Chintan Pharma Chem shares jumped 20% to hit a fresh 52-week high of ₹1,714.10 on the BSE after strong Q1 results.
The move came despite declines in wider Indian benchmarks, with the BSE Sensex down 671.29 points, or 0.86%, to 77,480.16 and the NSE Nifty 50 down 169.40 points, or 0.70%, to 24,164.75. LiveMint Markets attributed the cautious mood to weaker global conditions tied to the escalating US-Iran war and surging crude oil prices.
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