After underperforming for a long time the pharma sector seems to be on a recovery path. | |
| Most of the pharma stocks were up on Friday on the Bombay Stock Exchange (BSE). Dishman Pharma led the rally by gaining 10 per cent at Rs 238.4. Ranbaxy was up 6.5 per cent at Rs 432. |
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| Aventis rose by Rs 130 to touch Rs 1,950. Orchid Chemical registered a 7.9 per cent growth at Rs 302. Lupin and Novartis were up 5.36 per cent and 5.31 per cent at Rs 911.8 and Rs 556 respectively. |
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| "There has been very high activity in the sector, of late," said Sarabjit Kaur Nangra of Angel Broking. On Fridays rally was set off by news of Aurobindo Pharma taking over Milpharma of UK. |
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| "The expectation of Cipla announcing a bonus issue in the board meeting tomorrow is also keeping the sentiments high on the sector," said a broker. |
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| Dishman, the day's biggest gainer in pharma, is also reported to be planning to enter into a joint venture with a Japanese firm. |
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