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Healthcare index nears all-time high, Sun Pharma zooms

According to Motilal Oswal Financial Services, pharma sector will post 28% year-on-year growth in EBITDA

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Shares of pharmaceutical companies are in limelight with , , and Aanjaneya Lifecare are trading at their lifetime highs on the Bombay Stock Exchange ().

The BSE Healthcare index — which tracks the movement of pharma shares on the BSE —the largest gainer among the sectoral indices is up 70 points or 1% at 6,845, trading nears to its lifetime high of 6,871 touched on January 2011.

The index has outperforming by gaining 16.6% year-to-date, compared with 12.5% rise in the benchmark index Sensex.

Sun Pharma Industries is trading higher by 2% at Rs 607, extending its yesterday’s over 2% gain after a favourable verdict from the US Supreme Court in its patent case against Novo Nordisk.

According to Motilal Oswal Financial Services, pharma sector will post 28% year-on-year growth in earnings before interest, taxes, depreciation, and amortization (EBITDA) led by strong performance by Sun Pharma on the back of improvement in the profitability of , and Cadila led by acquisitions, Glenmark Pharma and Torrent Pharma on a low base.

The research firm expects the sector will post a topline growth of 13.5% on year-on-year basis (excluding one-offs) and adjusted profit after tax (PAT) is expected to grow by 12.5% on YoY.

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