Markets globally and in India as well are struggling as Covid-19 cases are going up globally and that is a major concern. Nifty Pharma however stayed clear of markets bears to emerge as hope amid the gloomy picture.
After a gap-down start, at around 12.58pm, Nifty Pharma was trading at 12,017.25 up 110.05 points or 0.92%, hitting a day’s high of 12,053.55 so far during intraday trade on Wednesday.
Cipla surged ~2% at Rs791.00 per piece. Cipla Therapeutics, a division of Cipla USA, Inc., an affiliate of Cipla and SIGA Technologies, Inc. (SIGA), a commercial-stage pharmaceutical company focused on the health security market, announced entering into a strategic partnership to deliver sustained innovation and access to novel antibacterial drugs, particularly against biothreats.
Auro Pharma stretched the winning streak. It was trading 1.35% higher at Rs857.60 per piece.
Alkem Lab also gained 1.17% at Rs2,627.95 per piece. Alkem Laboratories has agreed to partner with Tata Memorial Centre (TMC) to establish an advanced Radiotherapy Facility as a part of the Homi Bhabha Cancer Hospital and Research Center (HBCHRC), Muzaffarpur.
Sun Pharma also advanced ~1% at Rs593.40 per piece.
Cadila rose 0.72% at Rs434.25 per piece. Cadila Healthcare Ltd and its unit Zydus Pharmaceuticals (USA) Inc. said announced that they have reached an agreement with Celgene Corp. (Celgene), a wholly owned unit of Bristol Myers Squibb relating to patents for Revlimid (lenalidomide).
Divis Lab gained 0.69% at Rs3,520.00 per piece. Lupin and DR Reddys also advanced 0.67% and 0.57% respectively. Biocon was trading 0.55% higher while Torrent Pharma was flat.