Technically, the term 'Golden Cross' has bullish implications with short-term support seen moving higher. Apart from Sun Pharma, Aurobindo Pharma and Divi's Labs too witnessed this formation recently.
Jefferies is optimistic on India's CRDMO sector, given its evolution from quasi-chemical firms into strategic partners for innovators; check more details
In the past six months, the Divis Labs stock has outperformed the market by surging 18 per cent, as against 1.4 per cent fall in the BSE Healthcare index and 7 per cent rise in the BSE Sensex.
Divi's Laboratories share price rose after the company announced that it has inked a long-term manufacturing and supply agreement with a global pharmaceutical company.
Divi's posted a 12 per cent growth in revenues over the year-ago quarter. Although revenue growth has moderated after four consecutive quarters of top line growth in the 18-25 per cent range
All 20 Nifty Pharma constituents settled in the green. Among others, Ipca Laboratories was up 4.59 per cent, Lupin was up 4.19 per cent, Cipla was up 3.28 per cent, Sun Pharma was up 3.41 per cent
The PCR (Put Call Ratio) of these 3 stocks is above 1, implying presence of higher open positions in Puts as against Calls, shows the NSE options data.
Among existing gainers, Divi's Lab and Shriram Finance seem poised for further gains, whereas losers IndusInd Bank and Nestle too look promising on technical charts; check key levels.
Solara Active Pharma Sciences, Indoco Remedies, Dishman Carbogen Amcis, Krishna Institute of Medical Sciences, Divi's Lab, Strides Pharma, Narayana Hrudayalaya and Vijaya Diagnostic were up 5 per cent
Stock Market Live updates on August 5: Indian bourses are staring at a bear attack on Monday after heavy sell-off in global peers. The GIFT Nifty futures also indicated a gap-down start,
