Nifty Healthcare sheds over 125 points; Lupin, Sanofi, Torrent Pharma among major losers

Alkem Lab and Natco Pharma gained over 2%. Fortis was also trading 1% higher.

Aug 11, 2021 01:08 IST India Infoline News Service

Businessman sleeping with bear with down trend graph
The Nifty Healthcare stocks remained bearish despite some recovery in the afternoon trade on Wednesday. The Index shed with Lupin sinking 6% post Q1 earnings. Sanofi and Dr. Lal Pathlabs were also under pressure and Cadila was also struggling ahead of Q1 earnings. Torrent Pharma also was bearish amid gloom in the sector.

Natco Pharma lifted spirits by surging over 2% while Alkem Lab also gained nearly 2%. Fortis was also trading 1% higher.

Indices opened in the green and later fell into red zone, before trimming losses in the afternoon. At around 1.55 pm, BSE Sensex was trading at 54,487.18 down 67.48 points or 0.12% and Nifty50 at16,266.60 down 13.50 points or 0.08%.

Nifty Healthcare was trading at 8,923.90 down 112.85 points or 1.25%, touching a low of 8,819.70 during intraday trade on Wednesday.

Lupin was 6.2% lower at Rs1,050.65 per piece. It reported a 5-fold jump in its consolidated net profit at Rs 542.46 crore for the quarter ended June 30, 2021. Sanofi shed 3% at Rs8,930.00 per piece. Torrent Pharma dropped 2.8% at Rs2,941.45 per piece. 

Lalpath Labs, Auro Pharma, Biocon and Sun Pharma were also lower between 2.3% to 1.75%. 

Cadila was 1.67% lower at Rs566.80 per piece ahead of announcement of earnings. 

Pfizer, Dviis Lab, Apollo Hiospitals were around 1% lower. Abbot India, IPCA Lab, Laurus Lab, Dr Reddy's, Cipla and Glenmark also traded in the red

Alkem Lab surged 2.4% at Rs3,641.85 per piece. Natco Pharma followed by gaining 2.25% at Rs1,005.00 per piece. Fortis also advanced above 2% at Rs237.45 per piece. 

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