Nifty Pharma defies bull run; Aurobindo Pharma slumps 6% post Q1 result; Cadila top gainer

Aurobindo Pharma Q1 PAT declines 2% to Rs770cr.

Aug 13, 2021 11:08 IST India Infoline News Service

The Nifty Pharma continued its downward trend even on Friday led by broad-based selloffs in heavyweight stocks. As Indian markets marks fresh record highs on the last day of this week's trading session, the Nifty Pharma witness sharp selling pressure due to Cipla, Biocon and Dr Reddys bearish performance dragging the sector most.

During early trading deals, at around 11:10 AM, the Nifty Pharma was trading at 14,083 down 50.05 points or 0.35%, after touching a high of 14,153 and low of 13,930.30 during intraday trade.

Aurobindo Pharma was the worst-hit tumbling by 6% at Rs776.40 per piece. The pharma company reports weak operational performance in June quarter. Its Q1 PAT declines 2% to Rs770cr.

Dr Reddy's slipped nearly 1% on the index while Cipla and Biocon recorded a marginal drop. Dr Reddy's Lab extended its losses after June 2021 quarterly results.

Sun Pharma trades flat.

On the other hand, Cadila Healthcare was the top gainer soaring more than 1.5% post Q1 results. The major pharma company's net profit rises 29% yoy to Rs587cr in June quarter. Revenue was up by 14%. Alkem and Lupin was doing well surging nearly 1% each.

Divis Lab and Torrent Pharma jumped marginally.

According to the Health Ministry, India’s Cumulative COVID-19 Vaccination Coverage recorded nearly 53cr and more than 57 lakh vaccine doses administered in last 24 hours. India achieves its highest ever Recovery Rate of 97.46% where 40,120 Daily New Cases reported in last 24 hours.

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