Nifty Pharma stocks were trading 1% higher during Monday’s trade, amid buying activity seen in the domestic indices. The sector surged over 1% in the morning but fell back in mid-day trade before recovering ground late in the afternoon.
and Sun Pharma
spurred the sector with substantial gains while Alkem Lab
and Auro Pharma
At around 2.55 pm, Nifty Pharma was trading at 12,003.00 up
0.63%, touching a high of 12,103.10 during intraday trade on Monday.
Divis Lab led the gains by trading 2.29% higher at Rs3,440.15 per piece on Monday. Sun Pharma gained ~1% at Rs600.10 per piece. Alkem Lab surged 1.80% at Rs2,771.10 per piece.
Auro Pharma gained 1.37% at Rs866.95 per piece. Aurobindo Pharma has received the board of directors approval for the transfer of all equity shares held in Lyfius Pharma to Aurobindo Antibiotics Private Limited. Also, the company will transfer equity shares held in Qule Pharma to Aurobindo Antibiotics.
Additionally, Aurobindo Pharma has received approval for the transfer of business undertaking comprised in Unit-10, on a going concern basis, to APL Healthcare Limited, a wholly-owned subsidiary of the company.
Biocon, Dr Reddys and Torrent Pharma were flat. Lupin, Cipla and Cadila were trading in the red as the sector had 7 advances and 3 declines.