Nifty Pharma index hits 7-week high

Divi's Lab biggest gainer with over 50% rise in one month

The Nifty Pharma index hit a seven-week high of 9,629.7 on Thursday on the back of positive news flow for Divi’s Laboratories and Dr Reddy’s Laboratories. 

The US Food and Drug Administration’s (FDA’s) clearance to the facilities of Dr Reddy’s Laboratories, and minor observations in audit inspections at plants of Divi’s Labs boosted their stock prices. While Dr Reddy’s gained the highest, 7.4%, on Thursday, Divi’s Lab gained 5% to end at Rs 2,486 and Rs 990, respectively on the National Stock Exchange. 

Divi’s Labs has also been the highest gainer in the past one month, registering a gain of