Nifty Pharma stocks trade higher; Cadila, Alkem Lab outperform; Auro Pharma hits new low

Cadila and Alkem Lab surged over 2.5% to push the sector while Auro Pharma hit new 52-week low on Wednesday.

Aug 18, 2021 03:08 IST India Infoline News Service

Nifty Pharma stocks were trading higher amid bearish markets in the afternoon trade on Wednesday. The Index was among the top gainers during early trade but trimmed gains later in the day. Cadila and Alkem Lab surged over 2.5% to push the sector while Auro Pharma continued to touch new lows.

BSE Sensex and Nifty50 scaled fresh all-time highs on Wednesday before turning bearing in the afternoon. At around 3.00 pm, BSE Sensex was trading at 55,531.97 down 260.3 points or 0.47% and Nifty50 at 16,541.80 down 72.80 points or 0.44%.

Nifty Pharma was trading at 14,076.40 up 35.15 points or 0.25%, after  touching a high of 14,184.15 and low of 14,024.70 during intraday trade.

Cadila stock gained 2.6% at Rs543.90 per piece. The drug major informed that it received tentative approval from the US-based drug regulator to market lenalidomide capsules in the multiple strengths.

Alkem Lab was also nearly 2.6% higher at Rs3,798.25 per piece to give the sector a boost. Torrent Pharma gained 1.2% while Biocon was also nearly 1% higher. Cipla and Divis Lab were also trading in the green. 

Shares of Aurobindo Pharma hit a fresh 52-week low of Rs716 per piece on Wednesday, The stock was selling 1.1% down at Rs723.60 per piece. The stock of the pharmaceutical company has declined over 12% in the past three trading days after the company reported a disappointing operational performance in the June 2021 quarter (Q1FY22),

Sun Pharma was 0.25% lower while DR Reddy's and Lupin were trading flat. 

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