Pharma stocks in heavy demand; zoom up to 20 pc

Pharma stockson Tuesday gained up to 20 per cent after the government relaxed export curbs on some pharma ingredients and medicines.

Shares of Morepen Laboratories zoomed 19.94 per cent, Nectar Lifesciences 19.93 per cent, Marksans Pharma 19.91 per cent, Vivimed Labs 19.38 per cent and RPG Life Sciences 18 per cent on the BSE.

Likewise, Aurobindo Pharma jumped 16.52 per cent, Laurus Labs gained 15.24 per cent, Indoco Remedies 13.94 per cent, Dr. Reddy's Laboratories 13.94 per cent and Torrent Pharmaceuticals 13.68 per cent.

AstraZeneca Pharma India stock jumped 12.08 per cent, Sun Pharmaceutical Industries 10.96 per cent, IPCA Laboratories 10.06 per cen, Jubilant Life Sciences 10 per cent and Natco Pharma 9.59 per cent.

The BSE Healthcare index jumped 8.95 per cent to close at 13,504.01.

"The government eased curbs on exports of 24 active pharmaceutical ingredients (APIs) and their formulations, which lifted the pharma index," Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd said.

The government on Monday relaxed export curbs on 24 pharma ingredients and medicines, including vitamin B1 and B12, according to an official notification.

The move assumes significance as certain pharma companies have raised concerns over these restrictions.