Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessStocks

Pharma stocks gain led by Sun Pharma, Biocon; Aurobindo Pharma hits new 52-week high

Cipla, Dr Reddy's Labs, Divis Labs and Torrent Pharma added 1-2 percent each.

July 10, 2020 / 10:34 AM IST

The Indian stock market is trading flat as virus cases continue to surge. Sensex is down 31.67 points or 0.09 percent at 36706.02 while the Nifty shed 6.30 points or 0.06 percent and is holding above the 10800 mark.

Among the sectors, the pharma index added over a percent led by Sun Pharma which gained 3 percent. It was also the top index gainer.The other performers included Biocon which gained 2 percent.

Capture

Aurobindo Pharma share price hit fresh 52-week high of Rs 828.45 per share on BSE after the company received US FDA nod for Chlorpromazine Hydrochloride injection used to reduce psychotic symptoms - hallucinations and delusions.

The other gainers included Cipla, Dr Reddy's Labs, Divis Labs and Torrent Pharma which added 1-2 percent each.

Dr Reddy’s Labs in a filing to the exchanges said that it has received US FDA nod for Prasugrel Hydrochloride tablets used to prevent formation of blood clots.

Research and brokerage firm ICICI Securities has a buy on Aurobindo Pharma with target of Rs 920 per share. It feels that things are looking much more promising at the beginning of FY21 for the company with respite for unit IV, a strong set of Q4 numbers and stable outlook.

Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Sandip Das
first published: Jul 10, 2020 10:34 am

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347